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What strategy should a buyer use when planning to convert an R1 zoned property into a triplex?
Insert the current zoning in the blank space provided for present use in the agreement of purchase and sale.
Include an appropriate condition to allow the buyer adequate time for a re-zoning application.
Insert the following words in the blank space provided for present use in the agreement: The present use cannot be lawfully continued.
Leave the space provided for present use blank and not include a re-zoning condition, as the buyer would readily obtain a re-zoning given the prevalence of other duplexes and triplexes in the area.
Apply for a building permit after the sale is complete.
Consult a legal professional to draft a clause to be included in the agreement of purchase and sale.
The correct answer is: Include an appropriate condition to allow the buyer adequate time for a re-zoning application.
When a buyer is planning to convert an R1 zoned property into a triplex, it is crucial to include an appropriate condition in the agreement of purchase and sale that allows the buyer adequate time to apply for a re-zoning. This is the correct strategy because converting a property's use requires going through the re-zoning process with the municipality, which can be a complex and time-consuming procedure. By including a condition for re-zoning in the agreement, the buyer ensures that they have the necessary time and opportunity to obtain the required approvals before finalizing the purchase. Options A, C, D, and E do not provide the buyer with the necessary protection and time to navigate the re-zoning process effectively. Option F, while consulting a legal professional is always advisable, does not specifically address the need for a re-zoning condition in the agreement, making it not as directly applicable to the situation described in the question.