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6 Reasons Buyers and Lenders need a Commercial                  Zoning ReportReason 1--------------A current or prior chan...
Reason 5------------------Lenders want to be sure that their loans are protected. Title insurers are inneed of this inform...
a) PZR will work to obtain all available municipal documents- which     saves time from traveling to various municipal loc...
6 Reasons Buyers and Lenders need a Commercial Zoning Report
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6 Reasons Buyers and Lenders need a Commercial Zoning Report

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PZR (The Planning and Zoning Resource Corporation) is America's leading Zoning Consultant. Zoning Reports, Commercial Zoning Reports, Zoning Letters, ALTA/ACSM Surveys, Zoning Compliance and many other products are offered by our professional team. If you need to analyze the risk associated with a commercial property purchase, this company is very helpful. The Planning and Resource Corporation (PZR Report) has access to over 100,000 zoning reports in the US and Canada and carry one million dollars aggregate coverage for any report/occurrence within a coverage year. Don't rely on the zoning companies who employee one or two persons from their home. Avoid costly mistakes and surprises- contact the professionals at PZR (Planning and Zoning Resource Corporation) for a free project quote.

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Transcript of "6 Reasons Buyers and Lenders need a Commercial Zoning Report"

  1. 1. 6 Reasons Buyers and Lenders need a Commercial Zoning ReportReason 1--------------A current or prior change in the zoning designation of property raisescomplex issues. A zoning change could result in a loss of property valueand lending value. Prospective buyers, lenders, bankers, real estateattorneys and title insurance companies must complete Zoning DueDiligence to analyze the risk associated with the commercial property inorder to avoid costly problems in the future.Reason 2-----------------A zoning compliance permit will find out if the property is properly zonedfor the nature of business that is planned. Zoning laws regulate nature ofbusiness, parking, waste disposal, signs, etc.. A zoning report lets propertyowners know what and how they can build on their property. ThePlanning and Zoning Resource Corporation will issue zoningendorsements related to property conformance of Property Use, PropertySetbacks, Height, Density, Open Space and/or Lot Coverage, LandscapeBuffers and Parking. Reason 3------------------A Certificate of Zoning Compliance and a Building Permit must beobtained before beginning any construction, alteration or enhancement ofthe planned business site. Pre-existing property uses and structures mayrequire legislative remedy. A building in existence at the time a newzoning law is adopted is said to be “grand-fathered” or “legallynonconforming” and cannot be declared “nonconforming” or in violation.If the legally nonconforming structure is destroyed beyond the thresholdset forth in the Code, the owner may be allowed to rebuild only inaccordance with present zoning laws.Reason 4-------------------Certain states require buyers to conduct a thorough due diligence. Forexample, New Jersey legally requires the buyer to conduct a thoroughzoning due diligence investigation before purchasing or building acommercial property.
  2. 2. Reason 5------------------Lenders want to be sure that their loans are protected. Title insurers are inneed of this information which enables them to write their ZoningEndorsements (where available). Zoning compliance has become animportant factor on the closing checklist. Law and Ordinance Coverageconsists of three separate coverage areas. Building Ordinance Coveragewill cover the value of the undamaged portion of the building that must bedemolished should the casualty exceed the percentage threshold set by theRebuild Clause of the Code. Demolition Cost covers the cost to actuallydemolish the undamaged portion of the structure once it is declared a totalloss. Finally, Increased Cost of Coverage provides the additional costsustained in building to new code requirements such as windstorms,earthquakes, fire.Reason 6-------------------Local jurisdictions often change their zoning rules and ordinances. Thismight trigger a property to become noncompliant to current code andsubject to future changes. Before purchasing any commercial property,consult the professionals at the Planning and Zoning ResourceCorporation in order to conduct Zoning Due Diligence and prepare thecommercial zoning endorsement, property conformance, zoning letter,zoning report, law and ordinance coverage, discover nonconformingproperty and analyze the risk associate with purchasing the commercialproperty.Zoning Experts and FirmsThe hassle of zoning due diligence can be avoided by hiring a ZoningResearch and Due Diligence firm. Professional zoning firms can typicallyacquire all the documents in a timely manner plus provide a third partyzoning compliance report. These firms also provide assistance to resolveany zoning compliance issues. PZR (www.pzr.com - The Planning and Zoning Resource Corporation) isa Zoning Advisory and Due Diligence firm which helps buyers(individuals, banks, businesses, etc.), real estate lawyers, title companies,mortgage companies and others with researching and supplying ZoningDue Diligence. PZR has been the industry leader for over a decade and hascreated their own library and have over 20,000 municipal contacts (quickservice) and offers the following services:
  3. 3. a) PZR will work to obtain all available municipal documents- which saves time from traveling to various municipal locations and locating or researching the documents in person. Documents PZR provides: • Zoning Verification Letters • Zoning Reports (PZR Report) • Building and Zoning Code Violation Letters • Certificates of Occupancy • Building Permits • Variances (Special Use Permits or Conditional Use Permits) • Planned Unit Developments • Site Plans • Zoning Codes • Zoning Endorsements b) An independent commercial zoning report, known as the PZR Report®: • Sets the standard for answering your conformance questions for zoning due diligence, title endorsements, lending requirements and insurance needs. • Provides reliable site zoning analysis and compliance review. c) The PZR Report® is supported by local municipal documentation that provides the property owner, title insurer, finance company and real estate attorneys with an accurate and legal endorsement that speaks to the compliance status of the property. d) PZR also provides assistance in resolving specific zoning issues or non-conformities that are revealed out of this review process.About:The Planning and Zoning Resource Corporationwww.pzr.comPZR is the Zoning Advisory firm which analyzes the riskassociated with commercial property transactions andprovides all available Zoning Documents. Request a quickproject quote or a Zoning Compliance Report (PZRReport® ) which is supported by municipal documentsand Land Title Survey review in an easy, cost effective andquick manner.

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