Resale Deed Question

[Bret Blackburn]

I have submitted a bid on a lot that was struck off at a tax delinquent auction. The attorney who represents the taxing entity and I have been in discussions regarding my proposal. Apparently, I'm not the highest bid. However, they want the property developed/built on sooner than the higher bidder is willing to complete. They are saying they will accept my bid(much lower than I could buy any kit for in the area) with conditions. The attorney mentioned they would like to put a stipulation in the deed that I need to have the build complete within 12 months after the right of redemption period(6 months) is over. We discussed delays in weather, permits, builder issues, etc. He is drafting an agreement for my attorney to look over. I ask how they could enforce it, he did mention it would take someone monitoring it and they would have to be willing to pay the court costs, etc.

I have an interest in the property for multiple reasons.

1. My bid is lower for the lot than anything I could buy in the area

2. I already own a rental within a block

3. There is major redevelopment starting in the area and property values are on the uptick

My intent for the property was to hold for a short term and resell or build a rental on the property. My issue with building is that I wanted to wait until the development was further along. I'd like to build something harmonious with the what is going on, but it's a little early in the process to see how things will look.

The resale deed states"GRANTEE hereby agrees to and this Deed is conditioned upon the construction of a habitable structure on the property described herein by the end of November 2018"

I would love to hear any feedback from the forum.  I'm meeting with my attorney today to discuss, but thought I'd ask for advice from the experts as well