PURCHASE BID CONDITION REZONED

by admin on November 1, 2011

Purchase bid condition rezoned

When the purchaser decides to purchase a property, an agreement to sale is drawn up between the buyer and the seller. However, there are certain conditions which the buyer may have. If those conditions are not fulfilled then there are chances that he or she will not want to purchase the property. The conditions are normally entered into the agreement to sale or if they have not been entered into the agreement, they can be entered as amendments to the agreement to sale.

Once such of these legal documents are the purchase bid condition rezoned documents. This is an amendment made to the agreement and these are signed by both the buyer and the seller. In which it is mentioned that the sale of the property whose details are mentioned, will only take place if the buyer is able to secure a rezoning of the property. Incase the property cannot be rezoned, the sale will be null and void.

Zoning of property is done so that the nature and the purpose of the property is retained. However, the purchaser may want to use the property for some other purpose than the current zone and therefore, rezoning of property is done. The different property zones are commercial, residential, recreational, agricultural and industrial and in order for rezoning of the property to be done, there is a lot of legal paperwork one needs to do and get done with the local authorities. Therefore, if this falls through the purchaser may not want to buy the property anymore.

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