This section is from the book "Real Estate Principles And Practices", by Philip A. Benson, Nelson L. North. Also available from Amazon: Real Estate Principles and Practices.
The work of the architect is of importance to those engaged in the real estate business in many respects. He is consulted by those who wish to erect a building on land they own and by those who contemplate the purchase of land for a building operation. The owner determines the type of building to be erected, that is, whether it is to be a private dwelling, an apartment house, or a commercial building, and he furnishes the architect with a diagram or description of the plot. From this information, the architect advises concerning the size and shape of the proposed building, the arrangement of the rooms, and its probable cost. The information furnished by him often assists in determining whether the building will be a success commercially or not.
The architect is employed to draw finished plans and specifications for proposed buildings and for alterations and additions to existing buildings. He prepares and approves contracts for the work to be performed, he approves payments to contractors, and watches the progress of the building during construction. He guards the interests of his employer against fraud, overcharges, inferior work, delays and violations of law. His work is sometimes in the interests of the mortgagee, reporting to the mortgagee on the quality of the material and the workmanship of the building. The architect often furnishes figures which are used as a basis for fixing the amount to be loaned. If the mortgage is advanced as a building loan, the advances are often made on certificates of the architect.
 
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