Help with terms for sale of raw land

[John P.]

I am selling approximately 30 acres for about $1m to an experienced developer/investor. He plans to have the property re-zoned from 1/2 acre lots to 1/3 acre lots. We have generally agreed on price and a timeline for getting the zoning done and are working to get this to a writing.  I am not represented by a Realtor any longer as my Realtor (the only land specialist in the area) proved to be incompetent but that's a story for a different day.  So all is good and now the buyer is suggesting that the payments be made about 1/3 up front, and 1/3 at 18 months and the last third at 36 months. He tells me this is a common "takedown" for this type of sale.  This buyer had made an offer last year, when I had my realtor, and it was a straight purchase so I assumed this would be too.  I am selling to him for a very fair price and yes I want to sell it but if it doesn't sell now then so be it. The price isn't so amazing that I feel I want to bend to much to make it happen.  Also, I don't need the money. However, for other reasons I would love to sell it and be done with it.  Overall I want the deal to be fair to both of us as I find most deals go smoother, and with better feelings, when things are fair to all concerned. I feel like by his terms I get no benefit for agreeing to the delayed payment but if things go to crap then he walks away and I don't sell the rest of the land.  It seems to me I should get something for agreeing to getting paid over time. I am curious what you experts think. I want to be reasonable. I am an attorney but do not have significant real estate or contract experience.  Again, any feedback/thoughts/suggestions would be appreciated.