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
Null or void something; Revoke or destroy; rescind or set aside; abandon; abolish; repeal; surrender; waive; terminate. In real estate, to void a buy or sell order, price, or quantity. The ...
Once of a set of timbers used in the construction of a building or for esthetic purpose, the land around a property for beautification. ...
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Any of several types of legal joinders whereby one or more parties unites with or joins other parties in a legal action or proceeding even though the party may not be a direct part of the ...
One who agrees to pay the debts of another in the event that the debtor does not pay. The creditor can demand payment from the surety as soon as the debt becomes due. Although a surety ...
Something that has been built and physically exists at a specified location, such as a building, garage, etc. Something consisting of related parts, such as the organization and terms of ...
Same as term contract for deed: Method of selling and financing property whereby the buyer obtains possession, but the seller retains the title. ...
The right of possession and use of property without undue disturbance by others or adverse claims of others to title or interest. ...
Loss of property from nonfulfillment of some duty or condition. In some cases, forfeiture is required by a court order, whereas in other cases the nonfulfillment of a contractual debt is ...
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