Several years ago when my credit was poor my parents bought my home with the intention that I would eventually buy it from them/take over the mortgage when my credit improved.
In the interim, several things lead to a decision to try to sell the house as a commercial property and so the zoning was changed to commercial.
That deal fell through and now I'm stuck with a house on a commercial zone - there's no chance of changing the zone back - and the bank is being particularly touchy about giving me a mortgage for a house on a commercial property.
My question is - if I wanted to buy the house, can I get a mortgage for a house on commercial zone without a lot of hooplah
OR
Will this house be impossible to sell as a house because of it's zoning?
Added (1). The deal to sell it fell through but the zoning change was a separate part of that - the zone was changed in order to sell it and several other properties along the same block. Now we're all stuck with commercially zoned property. It wasn't my bright idea to change the zones prior to having the deal in place, trust me.
Read more: Residential Home on Commercial Zone?
