Real estate development is the process of buying land and transforming it into real estate. The first step is to purchase a piece of land, which can be done through negotiation, auction, or private sale. This step could also involve negotiating with residents who currently reside on the desired property (such as for its purchase).
The second step is to plan what will be built on the property and how that will happen. Developers then hire architects, engineers and others to design buildings and layout streets before construction actually starts. This process can take months or years depending on the complexity of the project and number of stakeholders involved.
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