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
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 ...
Direct line of descent as from father to son. An example of a lineal hereditament would be passing of the title of real property by virtue of a will to the first-born son. ...
The maximum pre-approved amount that an individual or business can borrow without preparing a new credit request. It is a safety buffer in the event funds are needed for unexpected ...
Also called "Grey Shell, "Bare Shell," and "Artic Shell," a Cold Shell could be described as the more radical version of a Vanilla Shell. So, what does precisely the Cold Shell definition ...
Rental income received from property that exceeds the costs of owning and maintaining the property. ...
Proportionate share of an item to total items in the population. ...
A judgment of a court issued as a final order after hearing all the evidence and material directly related to some matter before its consideration. A final degree considers al the rights to ...
Provision in an agreement in which its renewal is a matter of course at the end of its initial term. ...
An antenuptial agreement is, as the terms composition states, an agreement that happens before the nuptials, or, in other words, the wedding. The antenuptial agreement is more commonly ...
Have a question or comment?
We're here to help.