How do I legally structure a deal to be the middleman in selling a subdivision?

[Roman Sari]

I know the seller of an approved 6-house subdivision (shovel-ready) which he wants $1.2M for. He is willing to sell it to me for $1.0M. My friend pitched the idea of us being the middlemen and selling it forward to an out of state relative who is willing to buy it for $1.2M and is aware we will make a profit being the middlemen, signing an NDNC. 

I'm not able to double close the property because of the 30% downpayment the seller is asking. How would I structure this deal? Should I just leave it alone? Any other thoughts?

[Chris Seveney]

I will lend you the $1M for a $50k fee until it closes. 

[Steve Vaughan]

Quote from @Roman Sari:

I know the seller of an approved 6-house subdivision (shovel-ready) which he wants $1.2M for. He is willing to sell it to me for $1.0M. My friend pitched the idea of us being the middlemen and selling it forward to an out of state relative who is willing to buy it for $1.2M and is aware we will make a profit being the middlemen, signing an NDNC. 

I'm not able to double close the property because of the 30% downpayment the seller is asking. How would I structure this deal? Should I just leave it alone? Any other thoughts?

I'd probably purchase an assignable exclusive option to buy.  Most developers are familiar with Options.

You would record this or a Memorandum of Option, then be paid at closing for the difference between your option price vs buy price, minus additional closing costs.

In my area title insurance and transfer taxes are based on PP.  A $200k price increase would cost an additional 1.8% - $3600. 

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