What's the best way to structure a counter offer to protect myself while completing improvements and construction of shop while we are in "pending" status?

I've been inspired by listening to BP podcast #311 with J Scott on how to prepare for the pending market correction.

If your market area has been decreasing, don’t run your comps on recent sales, look at everything listed in the area, look at pending sales, on the market and look at pictures to see what you will need to do to be the best property at the lowest price.

A lot of us (80%) who are high paid professionals who start drinking Kool-Aide will be financially free in 4-7 years pending taking action.

The 5 lender's chosen for the first round were:Flag StarCapital OneAmerican ExpressBank Of AmericaChaseI was also told that any applications that came back as Pending or Declined to not stress over as F&G would go back and attempt to clarify/correct any problems.

What can be built over the Storm Drain easementAny other limitations/factors/etcThe land has been on the market for 55 days and had a pending sale a month ago that fell through.

Find as many comparable homes in your market.Many - myself included - recommend a 5-5-5 strategy:5 homes currently listed on the market5 homes pending (under contract)5 homes recently soldIf you're not an agent, you may not have the ability to find homes currently under contract but you can at least look at what sold recently and what's currently active.

New Listing (1944) Sold (542) Rented (169) Leased (2) Terminated (223) Expired (1847) Back On Market (250) Extended (456) Pending (684) Price Increase (200) Price Decrease (1789) Withdrawn (199) Better deals are on the way.

If the numbers are even close to what I saw on Trulia it would be a great investment (pending renovation).  

Last but not least, there was a divorce pending and the judge had ordered the house sold.