Multi-Family and Apartment Investing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 4 years ago,
Selling Multi-Family Zoned as Single Family
Hello! I'm here in Chicago and am planning to sell my 1906 home. It's zoned as a SFH 202, but has an in-law unit (above grade) and a partially finished attic that connects to the main floor. The main floor and in-law unit do not connect at all.
When we purchased the home, the appraiser classified the home as a multi-family house and we ran into a headache with the loan officer who was going to kick us over to multi-family pricing, which we couldn't afford. It was sorted out in the end, but I'm concerned that the next buyer is going to run into the same issue, as the house was under contract twice before we bought it.
Any suggestions on what I should do to prepare?
Thank you!