Construction agreements come with certain obligations that land developers are required to fulfill, and they must always be in writing. That way, they are clearly understood by everyone involved. Once it’s signed, it becomes a binding agreement, and failing to meet those terms can result in delays in the project and possible legal action.
Role of a Land Developer
A land developer can be the owner, or they can be a hired contractor to which the development responsibilities have been handed. Either way, his or her main responsibility is to build any new property or construction on a piece of land. Depending on the situation, someone will eventually become the owner of any structure that is on that land, and usually its purpose is to make a profit.
Sometimes the owner will sell certain lots for the purpose of building homes or any commercial property (such as office buildings and shopping malls). The land is meant to be used as an investment, and it is the developer’s responsibility to build according to the owner’s specifications.
Some developers will form their own construction company, which will do whatever work that needs to be done on the land. It can also be used for any other outside work so they can finance the development or make additional revenue.
On the other hand, some developers will simply subcontract the work to other qualified people or companies who are willing to do it for the right price. And other developers are contractors themselves. Regardless of the situation, he or she is obligated to perform the work that is specified in the contract, and each phase of the project must be completed within a specific period of time.
Responsibilities of Land Developers
It is always the responsibility of the land developer to complete the project in a timely manner, and he or she must make every effort to complete each phase of the project in the time specified in the contract. Additionally, the contractor must be paid in the manner in which both parties have agreed.
It’s also important for land developers to understand their rights, and a qualified real estate attorney can work on their behalf to make sure they are protected. Landowners must pay for any work that is completed, and it must be done in the manner that was agreed upon.
Finding a Real Estate Attorney
If you’re having a legal issue with a land development project, you need to understand what you can do to defend yourself in these situations. A real estate attorney will not only work on your behalf, but he or she will make sure you are treated fairly throughout the process.
Get in touch with us today to find out how we can help you!