Legal Question in Real Estate Law in District of Columbia

Re: Buying from Developer that doesn't yet own title to the land they're building on

Yes, it should be a source of concern and a reason for further inquiries on your part such as: When does the builder expect to obtain good title and from whom? Is this project the builder's first condo development and if not, have similar purchase arrangements for the land been used by this developer in the past? Have any prior projects failed to go forward or, perhaps, were not properly brought to completion by the builder? What does the builder's overall financing picture look like, healthy or, perhaps, somewhat anemic?