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Hi Diann,
Thank you for taking your time to answer my question.
I have 5 acres of land in Puerto Rico..same laws as the US.
These are empty lots 5 acres..the land has huge potential for both residential and commercial.
If it's zoned residential and I change the zone to a commercial zone..
would the lots/land/acres become more expensive? Do I have to reappraise if I change the zoning of the property or the price of the land stays the same?
Thank you for your answer,
Sincerely
Lara Emmanuelli
Hi LARA--
Your statement"...same laws as the U.S." makes me nervous! Every State in the Contnental US has its OWN Real Estate Code, with different laws effecting a variety of Real Estate, Appraisal, Buyng & Selling and Financing policies and procedures.
You may need to employ a Lawyer there in Puerto Rico to research your situation and the PR laws that cover it and answer thise questions you've posed here.
Having a Licensed Realtor might help you, too.The Realto won't charge you anything, so try him/her first, and if he/she can't help then go for the Attorney.
Diann apparently sent your communication with her to our QUESTION POOL--I found it there and felt you deserved an answer.
GOOD LUCK!
--JIM
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| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 10 | Politeness = 10 |
| Comment | Thank you so much for your advice I greatly appreciated. I agree with you that every State and autonomous region have different rules and regulation regarding real State. You see I live in China right now I'm tryting to educate myself on this. But you are totally right a real state agent, would be able to help much more since they are in the area and know the market there. Thank you, Lara Emmanuelli | ||
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Jim Root
Expertise
How to select the right Real Estate Salesperson & Loan Officer--ones who will serve your best interests! House-hunting tips & suggestions on selection of the home best for your family needs. Introduction to the Home Buying Process & all the "Players" involved.What is of utmost important to the Homebuyer? Real Estate Contracts & Negotiations, Appraisal needs, Title Co. involvement, Home Inspection issues& the Closing/Escrow systems, etc. Whatever your question, the answer will follow, whether from personal knowledge or research! Gale, shown here with me, has been a Real Estate Office Administrator, licensed Realtor & has served as my Research Assistant over the years!
Experience
Over 30 years as a "Real Estate Professional." including Real Estate Marketing & Sales, Appraisal work, Mortgage Banking & as a Realty Officer with U.S Dept. of HUD's FHA Homeownership Division in Alaska, Washington & Idaho! Some experience in Montana, California, Utah & Nevada markets!Knowledge of National Markets by continuous Research!
Organizations
Former member of Nat'l Ass'n of Realtors (NAR) & Mortgage Bankers Ass'n of America (MBAA). Currently with National Association of Review Appraisers & Mortgage Underwriters (NARA/MU).
Publications
Published in various local, state, regional & national Real Estate-related magazines & newsletters!Co-author of various Govt. publications on Homeownership, Appraisals & Mortgages while with HUD/FHA.
Education/Credentials
Associate Degree in Real Estate Studies plus:
Numerous Real Estate-related Courses conducted by the U. S. Government & Private Industry over the past 30 years.
Bachelors Degree in Mass Communications,
Masters Degree in Education/Teaching
Awards and Honors
Professional Designations: Certified Residential Originator (CRO) from MBAA, Registered Mortgage Underwiter (RMU) & Certified Review Appraiser (CRA) from NARA/MU. Outstanding Peformance Awards for 10 of the 12 years with HUD/FHA & numerous Sales/Listing Awards while a licensed Real Estate Agent.
Past/Present Clients
No longer selling/listing Real Estate, nor Appraising properties, nor working in the Mortgage business, this "Real Estate Pro" serves as Director of a Company that provides Professional Development Seminars & Workshops to the "Real Estate Industry" and provides free (as needed) & fee-paid (on a sliding scale) consulting & inspection services to members of the general public.Your questions will be answered without "salesmanship" & with your best interests in mind!
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