The steps required to take a real estate development project from the idea stage to completed construction are numerous and treacherous. Real estate development is not something you learn from an online course or from a late-night infomercial…and it certainly is not for the faint of heart.
Real estate development projects seldom, if ever, go exactly as planned. Whether it’s lot yield, zoning, financing, partners, contractors, municipalities or covenants, there is always something that will come up in the process. Thus, while the financial benefits of real estate development can be incredibly lucrative, those financial rewards don’t come easy.
How Epiphany Law Can Help
When it comes to real estate development, nothing can match having an experienced attorney by your side. At Epiphany Law, we understand the political process. We also understand when to play nice and when to play hardball. We understand holding costs, finance and the need to meet project deadlines. In short, we have been there, done that.
If this is your first or hundredth real estate development project, you’ll find that the experienced attorneys at Epiphany Law will make the process less frustrating and more financially rewarding. Contact us today.
Questions & Answers
Q: What are the typical steps in real estate development?
A: While no project is “typical”, there is a systematic approach to development that can be utilized. Generally, the first step is the Concept Stage followed by feasibility analysis. Assuming the concept works out, the next steps are planning and financing. Assuming you pass those hurdles, the final steps are construction and sales.
Q: How long does the development process take?
A: That answer depends upon a multitude of factors, especially the size and complexity of the development. However, even a small project is going to take months; a large project will generally be years. Remember, along the way your dealing with lots of governmental bureaucracy and the government is anything but swift.
Q: What are restrictive covenants?
A: Restrictive covenants are simply a set of rules that will apply to the property that you will be developing and, hopefully, selling to others. For example, if you were developing residential lots, you would probably not want a trailer home or pig farm to be able to be put on a lot you sold. restrictive covenants allow the developer to control the project even after parts have been sold.