Land has many uses besides the single family residential home. The home you are buying or selling may have had previous uses that are different from the current use as a home, and it may have future uses that are different as well depending upon location and market demand. Zoning regulations, plans to re-zone property, environmental regulations, municipal redevelopment maps and comprehensive plans for desired land use all play a part in the market value of the property, and its continued fitness for any particular purpose.
In addition, there are many “conditional uses” to residential property such as home office, day care centers, religious centers and the like for which you may want to use the property you are purchasing, which may be in the neighborhood nearby or in the planning stage, or which may have been a previous use of the property you are buying or selling. You may want to know what was done in the past and how difficult it will be to execute on your plans for the future, or you may simply be trying to find another way to affect the ultimate sale price.
If you own an adjacent parcel and want to consolidate parcels, or would like to rent out part of your land to be used for a purposed not current permitted, your lawyer can help guide you through the process. Whatever the reason, your lawyer can help you identify and use these issues to your advantage in the negotiating process or in presentations in front the the local Planning Commission, Zoning Commission or City Council.
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