Real Estate Developer
Definition of "Real estate developer"
A developer is a person that designs or creates something that could be a concept, structure, product or service. An idea can be turned into something real, tangible and the person that does that is called a developer. The process followed by a person in order to create something can be called “development process” and the person is the developer.
As an example, a developer can be an individual that builds software. You might also find them under specific names such as programmers or software developers more. Web developers deal with web design and web development tasks. Content developers are usually individuals that create content fit to be published in a magazine or uploaded on a website.
Developers in real estate
Real estate development is the act of buying land, creating new buildings and selling the property for a profit. The person that coordinates the process is called a real estate developer. A real estate developer coordinates the whole process from the beginning to the end. From the initial project faze up until a building is created, the whole development process is imagined, initiated, orchestrated, and controlled by the real estate developer.
There is a whole process associated with creating a new building: deciding where to put it, borrowing money for the project, buying land, receiving permission for the building, design, build, finding buyers or tenants to occupy it and manage it. While there are many different counterparts that specialize in each individual step the real estate developers coordinate the whole process. Architects, city planners, inspectors, engineers, contractors, lawyers, surveyors, leasing agents are all coordinated by a real estate developer.
Developers in real estate are also risk-takers that invest a considerable amount of money in an attempt to gain a profit if the building is a success. In order for it to succeed, the real estate developer would have to rent out the building/facility or sell for a profit. This ultimately makes the real estate developer the person in charge, a risk manager, a person engaged in a business that can lead to high returns, but it can also cause severe losses.
Popular Real Estate Terms
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A method of purchasing real estate whereby a maximum amount of leverage is used. Normally the seller will finance the down payment necessary to acquire a mortgage. Thus, the purchaser is ...
Point at which a housing development becomes a neighborhood. After an initial housing development is sold and the new owners become established, the neighborhood stage begins. The ...
Sometimes, a perplexing legal term (a genuine headscratcher) emerges when buying or selling a property. You know you should know it, but its precise definition escapes you. Today's special ...
An opening with a hinged cover allowing access from one level to another in a structure. Often installed in a roof or the floor of a building to allow the entrance of people and materials ...
Structure or part thereof, such as a building, that obstructs or overlaps another property. Infringement on the property or rights of another individual or business. ...
In any field, from the corner store or long-term rentals, the potential gross income is the expected revenue earned from a sale or the rendering of services. The potential gross income ...
An agreement by which a mortgage is made subject to a junior mortgage. For example, a loan on a vacant lot is made subject to a subsequent construction loan. ...
A horizontal beam connecting together two rafters supporting the roof. The collar beam is located at the point substantially higher than the wall plate connecting the rafters. The high ...
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