Real Estate Development Attorney in Union City, New Jersey

Are you or your company interested in purchasing and developing a piece of real estate? This can be a profitable enterprise, but there’s also plenty of work that goes into it. Development, construction, planning, contracts, and disputes can all throw a monkey wrench into your real estate business. That’s why working with an experienced attorney is in your best interest.

At the Hudson Law Firm, our real estate attorney has been guiding clients through development ventures for nearly 20 years. We’ll help you get a handle on the process in the Union City, New Jersey, area or anywhere else throughout the state.

The Real Estate Development Planning Process

Even before you can begin developing a piece of land, you’ll have your work cut out for you. Planning for a real estate development project is generally a four-step process. 

1. You’ll need to acquire the area you want to develop. This process can vary in complexity depending on factors like the size of the property and what currently occupies the land. While you can get away with buying a house without a lawyer, you should consider consulting an attorney when purchasing commercial land. 

2. You’ll also need a plan for what to do once you acquire the property. A plan should be one of your earliest priorities – you should be looking at different pieces of property that could meet your overall plan’s needs. 

3. Next, you’ll need to ensure you have enough financial backing. Banks and investment firms often provide capital for these projects, but some wealthy individuals put money into real estate development, too. 

4. Finally, you’ll need to divide your project into multiple teams. Each team should have their own responsibilities in order to complete the project as efficiently as possible. For example, one team may handle communications, another construction, and another would steer legal services. 

The Contract & Planning Phases for Real Estate Development

The next phase of development can be one of the most challenging and complicated aspects of a project. The contract and planning phases are collectively known as the “predevelopment phase” of a project. The contract/planning phase of a real estate development project consists of four main steps: 

1. Negotiation: During this phase, you and your teams will each discuss how much they’ll be paid for the project. Parties will also determine how and when they’ll get paid, and exactly what work they’ll complete, during this phase. 

2. Documentation: You’ll need to compile a series of documents before you can begin building. One of the most common development documents is a Certificate of Encumbrance, which proves a property’s ownership. 

3. Due Diligence: This can be a particularly complicated part of a development project. During due diligence, you’ll need to perform tasks like getting an appraisal, hiring inspectors, ensuring the property has a clean bill of title, and more.  

4. Zoning and Permits: This step can be a serious pitfall for a developer. You’ll need to work with the jurisdictions that govern your property to ensure that your project conforms to zoning codes. You’ll also need to secure permits for various tasks like building or demolition. 

The Construction Phase

At last – all of that paperwork and planning is paying off! Ironically, construction often takes less time and money than the pre-development process does. 

However, that doesn’t mean you’re completely out of the woods. Job sites can be dangerous places for the people working there. What’s more, once you break ground, you can run into a variety of unanticipated problems. Working with an attorney can help you avoid these problems entirely, and mitigate them when they do arise. 

Handling a Real Estate Development Dispute

Sometimes despite all of our best intentions, things don’t go as planned. Developers have to work with various professionals, including architects, engineers, construction companies, surveyors, investors, municipal workers, and more. Zoning conflicts and breaches of contract can be common occurrences in a development project, and they can happen at any time. 

When a dispute does arise, you must consult an attorney. These are generally complex issues, and you’ll want to work with a professional real estate litigator to help protect your rights and help your project stay on schedule and under budget.