The current real estate market is dominated by foreclosures, auctions and quick sales. There's little or no due diligence done on real estate "transactions" these days and, worse, many buyers (and bidders) rely on incorrect due diligence findings discovered during quick due diligence reviews. There are numerous due diligence traps, but one of the more common is to simply consult a local zoning map to determine zoning entitlements applicable to a property only to later discover the zoning map is incorrect.
Why zoning maps show incorrect zoning districts designations for properties
Some municipalities and counties are simply behind on updating their zoning maps. The maps still show old zoning districts for several properties. You must research the public records and zoning files to determine the correct, applicable zoning district for a property. Also, some municipalities and counties had, or have, policies that zoning maps are not updated or modified until all zoning stipulations of approval have been satisfied or until site plan approval has been obtained.
The importance of stipulations of approval
Stipulations are frequently attached to approvals to rezone property. Stipulations often require landscaping, screening and/or right of way exactions beyond that required by the local zoning code. Another very popular stipulation is to require that a site be built in conformance with an approved site plan. Typically, stipulations can only be modified or removed via a public hearing process.
Zoning verification letters
Zoning verification letters are often required by lenders, but developers are cautioned to not rely on these letters. Zoning verification letters often provide incorrect information or fail to include important information.
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