When you are a real estate developer, you have your eyes on the bottom line: making sure your investment in property pays off in the end. Often, developers think that by purchasing a property without consulting an attorney, they will save money. However, that's often not the case.
In fact, working with a real estate attorney before purchasing a property for development or redevelopment often will save developers from facing costly delays or facing unforeseen issues that make a development not a good investment.
Here are five ways working with a real estate attorney can save you when planning a development:
- An experienced real estate attorney will know how Santa Rosa municipal officials handle real estate development issues. How does Santa Rosa approach zoning rules or rezoning? Variance requests? Environmental impact mediation? How will the process be different if you purchase a property in Rohnert Park or Cotati? These are all issues where working upfront with a real estate attorney will give you better information on how to plan your development to avoid construction delays and ensure you are buying the right type of property for your development plans.
- A real estate attorney can advise you on how any right of way or easements affect the property value. Real estate attorneys also can help you to find out how right of ways or easements have been used in the past or how you use them to enhance a potential property property.
- A real estate attorney can ensure that your development process is well documented. This will show that you followed the correct procedure to adhere to local laws. This will help you if you face any development disputes with neighboring property owners or community member concerns.
- A real estate attorney can review any property purchase agreements to ensure the terms and conditions are fair and can advise you on any risks or liabilities you need to be aware of because of the language of the agreement. Also, a real estate attorney can make sure the deed information, property description and purchasing conditions are legally accurate.
- Establishing a relationship with a skilled real estate attorney can help you with any title disputes or trespassing issues you may face to complete the development.
- Having a relationship with a real estate attorney also can make future developments go smoothly, again saving costs in the end, as the attorney will better understand your business needs and how you approach property development.