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Should I get my own real estate appraisal before receiving an "offer" through eminent domain?

If my property is within an area that could be taken through eminent domain, will it make a difference to get my own appraisal before receiving the eminent domain offer that wil likely undervalue my property? Would this appraisal even be recognized by whatever authority is taking the property? If townships or counties use certain appraisers, could they be contacted beforehand and hired privately?
 
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Frank, Just Looking in Mullica Hill in Mullica Hill
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Jeanne Feeni… was FIRST TO ANSWER
The other advice below is very good. And, yes, you do need a lawyer experienced in zoning and in working with the city/town on such issues. (If possible, consider hiring someone who used to work for the city or town in a zoning capacity. That person should know exactly what "levers to pull.")

However, you did happen to mention a very clever and creative technique. And that's finding out which appraisers the township or county uses, and hiring that one beforehand. You should be able to call the township/county and find out which ones they use. Then have your lawyer (see above) suggest which one might be best. The appraisal very likely will be for substantially more than a township-hired appraiser's number will be. Then when it comes time for negotiations, you'll be in a reasonably strong position...much stronger than if you had no appraisal at all, and certainly stronger than if you'd had an appraisal from someone the township doesn't know or use.

I'm not a lawyer, so this isn't legal advice. As I said, contact a lawyer. Then run your idea past him/her.

Good luck.

Mon May 5 2008, 11:30
 
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The payment for your property through eminent domain is a negotiated value, based in part on the appraisal (which they will low-ball) and on the compensation available to get you to move. The first offer will be a low one, and they will likely make it look like it requires immediate action.

You will have the opportunity to negotiate in most situations, so don't take the first offer as their final offer. There is an incentive for the municipality to settle up with the owners out of court, not only to save legal fees, but so they can say that the current property owners "voluntarily" sold their properties to the municipality - it's better PR that way.

Read the fine print carefully to be sure that you're not being railroaded into accepting something that you're not aware of. Typically they will play "good cop, bad cop" with you, with one staff member attempting to railroad you into signing, and the other saying that this is a really good deal so you should take it.

Take a look at the resources at http://www.castlecoalition.org/ for a good starting point. They have many links and resources for eminent domain issues in every state. Also, talk with neighboring businesses who have already been approached regarding eminent domain and see how they are being treated.

I'm not an attorney, nor do I live in your area, so be sure to seek legal advice as required.

Mon May 5 2008, 10:02
 
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Your best avenue is to consult a real estate attorney. Check if they are experienced in your particular situation before deciding on an attorney.
Good Luck.
Sharon Kozinn

Mon May 5 2008, 08:44
 
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Wait until they have invested their (actually your tax) money and formally approached you. You could not use the same appraiser as this would create a conflict of interest. You may want to ask your realtor if their offer seems reasonable next and if you have doubt then yes get a second opinion. It may also make a difference if it is only a partial taking (ie your land up to but not including your house.) In any case you want a good real estate attorney Get an idea of this cost from the outset as you wouldnt want to spend a large amount in legal bills to get a small increase in price.

Mon May 5 2008, 08:17
 
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Hi Frank,

These are all legal questions, so of course consult your attorney. But if you do end up selecting an appraiser, do not pick just anyone. You want an appraiser with lots of experience in condemnation appraisal. It's a niche that very few appraisers specialize in, so make sure you pick someone with lots of experience in this format. You will probably want someone with the MAI designation. More info is at the link below.

Mon May 5 2008, 08:10
 
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FIRST ANSWER
I would consult a good real estate attorney. Good luck to you.

Mon May 5 2008, 08:04
Web Reference: http://www.feenick.com
 
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