Possible Lot deal in SE Atlanta 30317- Need help with deal structuring

[Fitzgerald Hall]

Hello all,

I have a lead on a lot located in SE Atlanta 30317 with a lot of potential. 

I am having trouble structuring the deal because the lot is zoned RLC which has a condition that states that only a law office can be built on the property. 

Rezoning will take about 3 months and cost about 1k. Rezoning shouldn't be a major issue because its surrounded by residential properties. 

How should I go about structuring something like this without paying for the property upfront. 

[Todd McLochlin]

Hi Fitz,

That’s a great area, I wouldn’t want to lose the deal either!Are you planning to come out of pocket for the rezoning cost?If so, the first thing I would try is a standard contract with a 90 day contingency clause regarding the zoning.I would also add a clause about the buyer paying for the rezoning process in lieu of any earnest money down.This way you’re not out of rezoning costs and earnest money if something goes wrong.

Another option may be a 90 day lease/purchase - subject to zoning approval.If your seller is in need of some immediate cash flow or you’ll lose the deal this might be the way to go.

I’m happy to help out with either one, or better options from other members – just let me know.

First ever BP post – hope it was helpful!

Thanks