Condemnation Appraisals

Main Entry: em·i·nent do·main
Pronunciation: 'e-m&-n&nt-
Function: noun
:  the right of the government to take property from a private owner for public use by virtue of the superior dominion of its sovereignty over all lands within its jurisdiction —see also CONDEMN, EXPROPRIATE, TAKE 1b
NOTE: The Fifth Amendment to the U.S. Constitution requires the government to compensate the owner of property taken by eminent domain, stating “nor shall private property be taken for public use, without just compensation.” State constitutions contain similar provisions requiring that the property owner receive just compensation for the property taken.

Merriam-Webster’s Dictionary of Law, © 1996 Merriam-Webster, Inc.

 

This definition is also one of the premises of an Appraisal !!!!  

 

We simply want you to know that what the government agencies construe the words “just compensation” to mean vs. the definitions you’ve read are not necessarily the same when it comes to giving you what your potentially “condemned” asset is worth!

 

Take for example the many road projects in the Charlotte Metro area – the Monroe By Pass, the I-485 project, the Providence Rd project – the list goes on. If you were to look into the compensation given to those people that were either paid for the land and/or improvement or condemned and compensated, you would probably notice a disparity from owner to owner…. in some cases next door neighbors.

 

Many times the reason for this is that when an owner is faced with the government’s representative saying that they will condemn the property, the owner gets scared. The owner fears the word “condemned” or “condemnation” and settles for what the representative says. The rep is reportedly using a “fair market value”, but from what date, et al??

 

Don’t let that happen!! I never could understand why that word, “condemned”, is used. The word can be taken in many ways. When the owner is told that word by an employee of a government agency, they take it the worst way. Think about it, the words associated with eminent domain are “condemned”, “taken” and “expropriated” – come on!!

 

Simply tell the government employee that you will get the property professionally appraised and if they must go through the condemnation process appraisals can be compared. Talk to your neighbors that are facing the same situation as you and see what they have been told. Our President has said it and it is a very popular term today, so let’s keep it transparent!!

 

Regardless of the reason for Eminent Domain – road widening, utilities, et al – your best bet is to know what your asset is worth before and after the “taking”. This difference becomes what a reasonable person would consider to be just compensation.

 

Check the laws of your State, through an Attorney or yourself, to make certain of the proper procedure to protect your rights.