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Post by Mario on Mar 31, 2011 15:05:58 GMT -8
So what should we look out for to determine this type of thing? (M-4): County records, City records, MLS ... what else?
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Post by Tony Alvarez on May 1, 2011 8:55:19 GMT -8
The problem I want you all to be aware of is, many times the county records are NOT up to date. So the public records information may show the zoning for the subject property as
R1-( Residential) While the local city planning dept has rezoned the area to R4-(Multi Residential),Commercial or Manufacturing. But if all you relied on was the information on your county or city records or on the information provided by the listing agent you may find yourself in a position where the property will not qualify for FHA or Conventional financing. So BEWARE & VERIFY EVERYTHING- Especially on REO's, foreclosures and properties sold to highest bidders at auctions. To be safe, just make it a point to verify zoning on ALL the properties you plan on making offers on.
Thank you,'
TA.
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