Legal Question in Real Estate Law in Georgia

commercial or residential?

I have my house for sell as potential commercial but it is not zoned commercial. If the city wants to buy it and they only want to give me fair market value, do they base that on it's potential use or only what it is zoned for? Even if it is totally surrounded on all four sides by commercial property. Also our neighbors who are still in there house have their's zoned commercial. Do I have to have it zoned to get what it is worth as commercial property?


Asked on 8/14/00, 10:53 am

1 Answer from Attorneys
Hugh Wood Wood & Meredith

Re: commercial or residential?

Well, if I represented the City (which I do not), what would I be willing to pay you? -- residential value. Why? That is what you have at the time of the condemnation. If you (homeowner) want to file for commercial rezoning and you obtain it prior the condemnation, then what will I have to pay you? Commercial Value.

Hope that makes it clear.

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Answered on 9/18/00, 3:12 pm


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