For Property Owners

Root Development, LLC specializes in working with property owners to develop their land. These partnerships provide Root Development with opportunities for diverse projects and provide property owners with a chance to share in the adventure and profits of real estate development.

The FAQ’s below represent a few things that any property owner looking to sell his/her land should consider before selling:

Before you sell your property, you need to determine its “highest and best use” in order to ensure you get a fair price.

If you currently own property that you have an interest in selling, it is important to consider whether your land is currently being used at its “highest and best use”. For instance, if you currently own a single family home, you may think that your property is worth about as much as the other similar single family homes that have recently been sold in your area. While this may be true, it is possible that your property could be turned into an apartment building or condominium complex. If this is the case, your property is worth much more than a single family home because it has development potential.

How do I know if my property is at its “highest and best” use? Does my property have development potential?

Due to no fault of their own, most owners do not know the true value of their property. Only those people with knowledge of the many real estate market factors can truly assess the highest value of the property. Real estate brokers are fairly good at setting sales prices, but many of these professionals fail to account for a property’s potential for development when setting an asking price. Accordingly, your real estate broker’s price may be too low. If you really want to know the value of your land, you should consult a developer.

Wouldn’t a developer try to low-ball me on the price so that he can keep all the value of the land for him/herself?
Under ordinary circumstances, the answer is yes. If you are talking to a developer who wants to buy your land, you should consult a real estate broker to make sure you are getting a fair price. That having been said, certain developers want to work with land owners in a partnership in order to benefit both the developer and the land owner. Root Development is one of those developers.

What happens if I’m thinking about selling my property and I call or email Root Development?
To begin, Root Development will respond to your communication and let you know that we have received it for review. Next, Root will analyze the “highest and best use” of your property to determine if there is any development potential. If there is potential, Root will put together a preliminary developmental plan, including projected profits for the property owner and Root Development. If the property owner is interested in pursuing the proposed plan, contractual agreements will be drafted and agreed to by Root Development and the owner. After that, development begins.

Please note that there is obligation between the property owner and Root Development until the contractual agreements have been signed. Any communications before then are solely for the purpose of determining if a development partnership would be beneficial for both parties. An owner does not risk anything by contacting Root Development.

Will I make more money by partnering with a developer as opposed to selling my land outright?
While there are no guarantees in the development business, an owner should make significantly more money by partnering with a developer. Again, an owner who sells his/her property to a developer is losing out on the profits of the development potential. The developer who is buying your land outright will pay the minimum amount so that he can keep the inherent, “highest and best use” value for him/herself.

If I were to enter into a partnership with Root Development, what would my duties include?
In a development partnership such as the one described herein, the owner’s only obligation is to provide the land. Root Development will handle all development responsibilities.
I have more questions.

Please do not hesitate to contact Root Development, LLC at our email address: contact@rootdevelopment.com. We will be happy to answer any of your questions.