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 commerce and business, margin as a general term is defined as by the difference between the amount of money spent on a product and the selling price of it. The margin usually appears as ...
The clear, open and active occupancy of real estate. For example, notorious possession is one of the tests for adverse possession. ...
The definition of abatement is a reduction of penalties or a tax deduction for individuals or businesses. It can often be accessed upon an overpayment of taxes, if the company or individual ...
How many days, months, or years are required before a new building has the desired occupancy ratio. The occupancy rate influences the amount financial institutions are willing to lend. ...
The Ellwood method based on a multiplier of mortgage-equity to determine the value of income-producing property. ...
The total destruction, razing, tearing down, breaking into pieces or pulverizing of a structure on a building site. Demolition usually occurs when clearing a building site either as ...
A form of life or disability insurance where a mortgagor insures a mortgage in the event of death or disability. The principal covered by mortgage insurance declines as the mortgage is ...
(1) Subunit integral to a larger unit. (Usually associated with furniture). (2) Permanent fixture or appliance which is not intended to be portable and cannot easily be removed. A home has ...
Borrower's right to redeem his property by immediately paying off the loan balance and any related costs. ...
Have a question or comment?
We're here to help.