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My daughter is buying a property as a residential property…

Customer Question
My daughter is buying...

My daughter is buying a property as a residential property and plans on living in it. It is zoned for residential and commercial. If she wanted to rent out part of it for commercial use to me could she do this?

Lawyer's Assistant: What steps has your daughter taken so far? Has she prepared or filed any paperwork?

She has been qualified at a bank for buying it as a residential property, however has not closed on the deal as of this time

Lawyer's Assistant: Where is the property located?

Columbia tn

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

There is work that needs to be done on the house like updating plumbing and electrical. She does not plan on using the kitchen but wondered if while electrical work was being done should she have code done for commercial in case she wants to sell it in time for commercial. It will not have a commercial kitchen but just have the electrical properties it needs, since the walls will be open?

Submitted: 4 months ago.Category: Real Estate Law
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Answered in 2 hours by:
3/23/2018
Real Estate Lawyer: Barrister, Lawyer replied 4 months ago
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 42,580
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

.

Commercial property as a general rule is more valuable than residential, so the more things she does to lean it toward the commercial side, like upgrading electric or other systems now, the more the property will be worth later on if she decided to sell it. If it is zoned for commercial use, then there shouldn't be any restriction on her being able to rent it out for either residential or commercial use..

.

So yes, the more work she does on upgrading things now, the more the property will be worth later..

.

.

thanks

Barrister

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Real Estate Lawyer: Barrister, Lawyer replied 3 months ago

Hello again,

.

I just wanted to touch base with you and check in.

.

Did you have any further questions I can help with?

.

.

Thanks much

Barrister

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