Developer


Definition of "Developer"

Lan Doan
Lan Doan Coldwell Banker Residential Brokerage - Princeton Junction Office

Individual who creates property improvements by making homes, shopping centers, and other commercial buildings for a profit on an area of land. The developer organizes and plans the development and supervises its construction as well as managing all the business elements of the project.

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Popular Real Estate Terms

Development Loan

Loan used by a developer for the purposes of paying development costs. A development loan is paid by unit sale proceeds. See also construction loan. ...

General Contractor

Contractor who signs a contract with a property owner or developer and assumes comprehensive responsibility for completing a construction project. A ...

Building Owners And Managers Association International (BOMA)

Founded in 1908 and located in Washington, DC, BOMA has 7,500 members and 10 regional groups and 6 state groups. It consists of managers, owners, inve ...

Gap Loan

Temporary financing meeting a developer's financial difference between a construction loan and a permanent mortgage. ...

Master Deed

Filed by a condominium developer or converter for the purpose of recording all of the individual condominium units owned within a condominium developm ...

Take-out Loan

Form of financing that replaces or "takes-out" a construction loan to a developer. The take-out loan is a permanent mortgage loan which replaces the ...

Popular Real Estate FAQ

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Paid advertorials are articles written by public relations professionals that have just one goal in mind - to get you to buy a home. I\'m sure you\'v ...

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When you are prequalified, the lender gives you an estimate but does not formally commit to giving you a loan. ...

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A lock in guarantees a certain interest rate for a certain period of time. ...

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A lien is a claim against a property. ...

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A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which the lender has agreed to the loan. ...

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