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Updated about 4 years ago on . Most recent reply

User Stats

43
Posts
23
Votes
Meredith Burt
  • Rental Property Investor
  • Norman, OK
23
Votes |
43
Posts

How to offer on commercial property to rezone residential

Meredith Burt
  • Rental Property Investor
  • Norman, OK
Posted

I have my eye on a commercial property that was an original tiny local grocery store and another shop. It is now totally surrounded by residential and I'd like to rezone it residential and turn it into multifamily(duplex and quad). It isn't currently for sale, but is for rent, and has been vacant for months, possibly years. The city said there is a good chance it will get approved to become residential. 

1. How do I offer on the property pending approval from the city to rezone? How does earnest money work in this situation?

2. What is the general overall process, from making an offer to having it rent ready? While not my first major remodel project, it is my first time trying to do it with zoning changes.

3. Anything else I need to know? Thanks in advance!

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