Real Estate Development Attorney in Pittsburg, Pennsylvania
According to March 2023 Housing Report by the Pennsylvania Association of Realtors, home sales were up by 9,744 from the previous month. The Commonwealth of Pennsylvania continues to enjoy a booming real estate market due to improving economic conditions. As a result, many investors are seeking to buy and develop real estate properties and lands in different areas and cities across the state.
If you’re interested in buying and developing real estate, consulting with a seasoned Pennsylvania real estate law attorney is imperative. At Marc V. Taiani, Esquire and Allegheny Attorneys at Law, P.C., I enjoy giving guidance to clients in real estate development-related matters. I can inform you about the various procedures involved in real estate development, help negotiate contracts, and settle real estate disputes.
My firm – Marc V. Taiani, Esquire and Allegheny Attorneys at Law, P.C. – proudly serves clients across Pittsburgh, Westmoreland, and Butler, as well as throughout Allegheny County, Pennsylvania.
The Planning Process
Real estate development remains a highly profitable investment but with huge risks involved. However, to ensure that you’re on the right path to success, proper planning is important. Here are the steps involved in the planning process of a real estate development:
Acquiring the Location/Property: Find and acquire the right piece of land for your real estate development. However, before you buy the property or land, ensure that you conduct market analysis, environmental assessments, feasibility studies, and due diligence.
Project Planning: Create a detailed plan that outlines the steps and processes you need to achieve your real estate development goals. The project planning will indicate the various stages of development, required resources, and estimated timeline for project completion.
Project Financing: However, real estate development is often a huge capital project. Financing the project may require finding investors, taking a bank loan, equity crowdfunding, or borrowing money from friends and family.
Project Teams: Also, having a project team is required for your real estate development. Some of the critical players in a real estate development project include the project manager, real estate developer, consultant, attorney, architect, civil engineer, and geotechnical engineer.
The Contract Phase
Furthermore, the contract phase remains a crucial aspect of every real estate development project. An attorney can help prepare and review the real estate contracts thoroughly. In addition, a legal counsel can help:
Negotiate the terms of the sale.
Document all the agreed-upon terms and provisions.
Conduct due diligence and ensure that the terms of the contract are fair to all parties.
Advise clients and help resolve issues with land use and zoning.
Help apply for and obtain the necessary permits and licenses.
An experienced Pennsylvania real estate development attorney can assist with all contract-related matters and help protect your investment.
Once you have obtained the necessary permits, you can proceed to the construction phase of the real estate development. The development team will do the following:
Work with the builder or construction company to track building progress.
Market the real estate properties to potential tenants.
Strike pre-lease agreements with potential tenants and buyers.
Make necessary arrangements for permanent financing.
Obtain the certificate of occupancy.
Make necessary arrangements for the property manager.
A trusted attorney can direct you through every required task during the construction phase and help resolve any issues or disputes that may occur at any phase of the real estate development.
Dependable Legal Assistance
Real estate development often involves various steps, and the entire process can be lengthy and complicated. However, different issues and risks can occur during the planning stage, contract phase, construction, and final completion. Therefore, consulting with an experienced real estate law attorney is paramount for proper guidance and to help protect your investment.
At Marc V. Taiani, Esquire and Allegheny Attorneys at Law, P.C., I’m poised and ready to help clients through the complex procedures involved in real estate developments. Using my broad knowledge, I can represent you at every phase of real estate development and help mitigate risks. Also, I will work intelligently to address your needs and concerns and help ensure a successful project.
Real Estate Development Attorney Serving Pittsburg, Pennsylvania
If you need help buying and developing real estate, contact me at Allegheny Attorneys at Law, P.C. today for an initial consultation. I have the knowledgeable advocacy and reliable legal counsel you need to navigate important decisions. My firm proudly serves clients across Pittsburgh, Westmoreland, and Butler, as well as throughout Allegheny County, Pennsylvania.