Eminent domain compensation is meant to give you something to fall back on in case your property is taken over by the government for public use. The condemning authority usually comes up with an amount which it feels is the compensation for your property which they take over. This however can be as a result of flawed valuation and it may fail to adequately capture the value of your property. It might also not include the disturbance and disruption that might be caused to you as a result of having to move.
In order to make sure that the amount you get as eminent domain compensation is adequate, you need to have the advice of property consultants. These could be lawyers who have honed negotiation skills dealing with similar cases in the past. They will be able to push the governmental authorities to revise their valuations of your property upwards so that you can get more compensation. If this fails, they can file lawsuits which if properly argued, can lead you to get more awards in damages.
There are several ways in which the condemning authorities may get the valuation of your property wrong. One is that they may incorrectly determine the highest and the best use of your property. They might also use the wrong figures as comparative sale values for similar property. They might also not take their time to put all aspects of your property into consideration before coming up with a value. The final way by which they might fail is that they may not utilize all or the proper methods that are available for the valuation of your property. As a result of these errors, the eminent domain compensation value awarded to you will be lower than it should be.
It is important to note that the governmental body may not necessarily mess up the valuation of your property by mistake. Sometimes it is as a result of lack of understanding of the law by the officers entrusted to do the work or that the methods used are not accurate. This does not mean that you should not press for adequate eminent domain compensation. The lawyer will help you to go through the methods used by the appraiser of the authority in order to identify any mistakes he might have made. Having this information will help your case in pressing for a review or getting additional damages.
For instance, the appraiser might have missed sales in the market of property that is similar to yours. He might also have used properties that are not similar to yours in the comparison. Since the determination of the value of your property is mainly left to the discretion of the appraiser, the lawyer will be able to use the information you have gathered to determine whether the value is realistic or not. He can then advice you on what you need to do.
If you have any questions about the valuation of your property for eminent domain compensation purposes, you can get more information
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