Your boss has asked you to look into purchasing a plot of land on which to build an office. Your company does not want a real estate broker involved, and he trusts you to get the job done. You go to the local hall of records and ask to see the land maps. You spot a few possible locations and contact the owners to see if they are interested in selling. Luckily, the first one you contact is ready and anxious to sell. The asking price is too good to be true, and you enter into a contract. After the deal is closed, construction begins; that is, until an inspector informs you that the zoning for this property is not for office buildings. Now you realize why the price was so cheap. Discuss the following:
What should you have done before signing the contract to avoid this issue?
What can you do now to remedy the situation?
How can you accomplish this?