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My property is C2 zoning. I got a residential appraisal at

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My property is C2 zoning...
My property is C2 zoning. I got a residential appraisal at $185,000. I want to sell the property staight commercial. I figure I could sell my property then at around $250,000. Can I do that or do I need the the property to be C1 to do that?
Submitted: 7 years ago.Category: Real Estate Law
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Answered in 15 minutes by:
1/13/2011
Real Estate Lawyer: DCrane Law, Lawyer replied 7 years ago
DCrane Law
DCrane Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 25,285
Experience: many years of experience representing clients in real estate matters
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Thank you for the post, unfortunately prior to selling the property as a commercial property it must be zoned as a commercial property, if you sell a residential zoned property as a commercial property the buyer could rescind the sale and sue you for damages.
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Customer reply replied 7 years ago
ok thanks for the reply. The C2 zoning on my property is either residential or commercial. It can be used for either use. I just did not have the $1500 to get a commercial appraisal, so i got the residential appraisal for $350. If the residential appraisal was $185,000. I am assuming the commercial appraisal would be 250,000-300,000.
Real Estate Lawyer: DCrane Law, Lawyer replied 7 years ago
Thank you for the clarification, you can sell the property as a commercial property, your zoning gives you the option of residential or commercial. The challenge however will be finding a buyer who will pay commercial price for what is arguably a residentially zoned property. To avoid this, consider having the property rezoned commercial only.
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Customer reply replied 7 years ago
What do i have to do to get it to "commercial only"? Will it cost me? What is the process of doing that?
Real Estate Lawyer: DCrane Law, Lawyer replied 7 years ago
Hello, you would have to petition the zoning commission for a amendment to the current zoning on the property. It would cost you in the form of legal fees for the attorney you hire.

Edited by DCrane Law on 1/13/2011 at 4:57 AM EST
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Customer reply replied 7 years ago
ok how much of a difference would that make on the value of the property? if the residential appraisal was $185,000. What would it be if it was switched to all commercial? What im asking is would it be worth it for me to do that?
Real Estate Lawyer: DCrane Law, Lawyer replied 7 years ago
Hello, it really depends on the adjacent properties. For example, if the adjacent properties are commercial office buildings, you would benefit from a commercial designation. However, if you are surrounded by residential dwellings, and your space is not suitable for a corner store/small box retail store than commercial designation would not be worth the effort and expense.
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Customer reply replied 7 years ago
next door to me is a Body Shop, across the street from me and down the street from me is trucking companies. My property also has a 45 by 90 shop and i also have 2 rental mother in law apartments. and how much would the legal fees be to switch the zoning?
Real Estate Lawyer: DCrane Law, Lawyer replied 7 years ago
Thank you, XXXXX XXXXX make sense to go for commercial zoning, your legal fees will run a couple thousand dollars.
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