Applying to change zoning while marketing for sale

[Steven Huang]

Hello all!

Looking for help from those who know zoning regulations in Georgia, specifically in East Point, metro Atlanta

I purchased a multifamily property a few months ago where I found out after buying it that the city had gone and changed the zoning from multifamily to single family a few years. I've stopped rehab work on it since the city won't give permits to finish the interior back to a 5-unit because of the zoning and the work is going to cost a lot more than anticipated so the property is sitting gutted and just a cash drain. I'm looking to sell it for what I can, but since rezoning it back to multifamily so that the current structure is usable could raise the value, is it possible to start a rezoning process while simultaneously marketing a property for sale, or in the case I find an interested buyer, could I sell it to them and then have them pick up with a rezoning attorney where I had left off in the process?

Thanks in advance for reading this post and any advice you guys have!

Steven H.