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Building construction is the process of adding structures to areas of land, also known as real property sites. Typically, a project is instigated by or with the owner of the property (who may be an individual or an organisation); occasionally, land may be compulsorily purchased from the owner for public use.
Real estate development is different from construction or housebuilding, although many developers also manage the construction process or engage in housebuilding. Developers buy land, finance real estate deals, build or have builders build projects, develop projects in joint ventures, and create, imagine, control, and orchestrate the process of ...
The site selection process includes a detailed evaluation of project needs which are then measured against the merits of potential locations. The process typically includes selecting and evaluating communities, real estate site analysis and acquisition, and may include negotiating tax incentives. [7]
Real estate can be valued or devalued based on the amount of environmental degradation that has occurred. Environmental degradation can cause extreme health and safety risks. There is a growing demand for the use of site assessments (ESAs) when valuing a property for both private and commercial real estate. [17]
Changes that take place nearby will directly affect the real property's value. Real property is vulnerable to externalities due to its immobile nature. External factors outside of the real property will affect the value of the real property, for example, the noises that neighboring people and construction sites produce.
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
Site plans are often prepared by a design consultant who must be either a licensed engineer, architect, landscape architect or land surveyor". [3] Site plans include site analysis, building elements, and planning of various types including transportation and urban. An example of a site plan is the plan for Indianapolis [4] by Alexander Ralston ...
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