Reply With QuoteGo on and fight the man.....this way....when I drive by when you are picking up garbage on the side of the highway[after spending a night in the box!]...I can flick my cigarette butt at you....
Power to the people......
Got a question for any appraisers out there or anyone who stayed at a holiday inn express last nite
On one of my rental properties the county needs 628.6sq ft of my property for a permanent contruction easement. How would something like that go about about being evaluated?
Basically the approach they took (supposedly by a qualified appraiser) was to figure out the going price per acre in the area, extrapolate a per sq ft price from that and then reduce that by 50% since they are only putting an "easement" on our property and not actually taking the property (personally I would prefer they buy it outright). Offering me a grand total of $500. That's kind of like taking a price for 10,000 acres and then offering 1/10000 of that for just the acre you want, it doesn't work that way that I'm aware of.
I'm just curious, would this type of valuation hold up in court as a fair market value appraisal should it come to condmenation proceedings? I know if I asked any of my neighbors for 628ft of their property they sure as hell wouldn't sell it to me for $500. When the guy from the firm called my about their "generous" offer, I offered to instead swap it for 628sq ft on his property but for some reason he didn't take my generous offer.
Go on and fight the man.....this way....when I drive by when you are picking up garbage on the side of the highway[after spending a night in the box!]...I can flick my cigarette butt at you....
Power to the people......
Sage advise I'm sure. So will you sell me 628sq ft of casa JBB's (sometimes green) lawn?
Sage advise I'm sure. So will you sell me 628sq ft of casa JBB's (sometimes green) lawn?
I shoot at people who are found where they dont belong.....my property is mine....On of my friends here at work ...who lives in West Point....just got his 40 acres house and shop taken by the State for the new Kia plant going in...He seems very happy with what they offered...
Yeah, I'd be happier too if they were buying the whole thing house and all. But we just bought this last summer and the house is brand new, sucks to have a new road in your front yard.
So you and junior gonna get a job at the new kia plant? I understand that you have friday's free.
They have to give you fair market value - Unless you live in Tijuana it doesn't sound like fair market value. Do you research and take it to them.
Yeah, I'd be happier too if they were buying the whole thing house and all. But we just bought this last summer and the house is brand new, sucks to have a new road in your front yard.
So you and junior gonna get a job at the new kia plant? I understand that you have friday's free.
I could use another job...perhaps I will look into it....
The problem is I don't know how to value 628sq ft, I have access to mls but I won't find any comparables for land sales that small. I also don't know how to value an easement vs fee simple transfer. I know that easements are a big negative when it comes time to sell, but I don't know how to place a dollar figure on that.
Appraisers can do different approaches to find the value of the land.
They have to give you fair market value - Unless you live in Tijuana it doesn't sound like fair market value. Do you research and take it to them.
Actaully they don't have to give you anything. You can fight it, but if it is for public road and it's in the public's best interest, they will take you to court for what is called "Eminent Domain". Which means the right of a sovereign government, or some person acting in its name and under its authority, may acquire private property for public or quasi public use upon payment of reasonable compensation and without consent of the owner. There is also "Condemnation" which is the right or power of the government to take private property for public use on making just compensation therefor.
I would take the cash, there's really nothing that can be done. If it's not usable equitable property, your lucky their offering you anything in the first place. If you fight, you will just acrue attorney fees and what not.
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