Sorry, I don't buy it. These are pretty sophisticated people. I used to buy land and develop stores for a major retailer - ten or more acres at a time. and I can assure you there were sufficient conditions in the agreements to kill the deal if zoning, SPA or building permits were not obtained. I simply can’t believe these guys don’t do the same thing. It's standard practice, you get control of the land (contract) then you pursue the necessary approvals - which are definitely a condition of the deal. Honestly the value of the land it totally dependent on its use and the purchaser's ability to use it accordingly.