Land subdivision after the sale

[Tatiana Gershanovich]

Here is the scenario: We have a house with a big chunk of land. The goal is to subdivide the land, sell the house with only part of the land and keep the remaining. At the same time we don't want to wait while subdivision is approved (can take 1-1.5 years here). So, ideally we would sell the house to a retail buyer with some kind of agreement that only certain amount of land will belong to the house and we will be working to subdivide the land.

Has anybody done something like this? How did you structure it?