What would be a reasonable house price?

My house can be zoned commercial, what if any premium in price can I expect if I sell to commercial developer.

• House sits on a quarter acre of land,next to busy roadway, touches commercial property on two sides. A company wants to buy my house as well as commercial property that my land touches. I would like to know if my house can be sold for a premium over the price it would normaly fetch if it was sold as a place of residence. They plan on demolition of my house they just want the land.

• Answer:

  If you intend to sell it, I would get the rezone done yourself and reap the benefits. A developer is going to say that there is risk with any rezone request, it may or may not go through, blah, blah, so I'm not going to pay top dollar for your property. You are in a much better negotiating position if you already have the rezone done. However, be aware that single family homes are non-conforming uses in many commercial zones. Some cities and counties DO NOT have rebuild allowances for non-conforming uses if your house is destroyed, damaged, or rendered unihabitable. So, if you rezone your property and then your house burns down, you won't be able to get a permit to build another house since single family residences aren't an allowed use on commercially zoned property. If your community is like that, you won't be able to get conventional financing for it ever again. You can get financing, it will just cost you. If it were me, I would be very sure that I am going to sell before I got that rezone done.