Partner’s zoning team is among the largest and most reputable in the commercial real estate industry. We provide commercial zoning assessments for Northern America, including the United States, Mexico, and Canada. Led by a knowledgeable staff of specialists, Partner helps clients identify potential risks and gives them the tools necessary to make informed decisions about their transaction requirements. Our trained professionals have a proven track record in collaborating with municipalities, title companies, and surveyors, which makes the due diligence easy on you. Our team is there to assist with any of your transactions, whether it’s a single site or a portfolio.
Verifying pertinent zoning information requires industry experience, subject matter expertise, and collaboration with the local municipalities.
Lenders often request specific ALTA (American Land Title Association) zoning endorsements to address particular concerns and provide additional coverage beyond the standard title insurance policy. Some common ALTA endorsements that lenders ask for in a commercial zoning report include ALTA 3.1-06 Zoning – Completed Structure: Provides coverage for zoning issues related to the current use of the property.
Zoning is a system of codes used to develop a municipality, generally a city or county, in which various geographic areas or ” zones” contain different allowances and restrictions. It is the key to future development within the municipality and adapts to current and future predicted trends within various zones. Zoning is used as a resource to protect existing neighborhoods, develop new neighborhoods, and redevelop or revitalize older neighborhoods.
Zoning assessments help you understand the risks associated with the uses of your property. Zoning due diligence is a necessary process in every commercial real estate investment transaction. Lenders, insurers, and buyers minimize risks to ensure their investment is smart, safe, and profitable.
Lenders generally require a property to comply with zoning ordinances before issuing a loan. If a property becomes legally nonconforming, commonly called “grandfathered,” lenders require a certain damage and reconstruction threshold percentage to minimize the risk to their investment again.
With zoning codes ever-changing, Partner’s team of experts can help you analyze and mitigate risks associated with the uses of your property.
Partner performs several types of zoning assessments for commercial real estate properties nationwide. Click i below for more information.
