Condemnation appraisals vary in various instances from the usual or typical assignments of market value. Most of the times in condemnation appraisals, the appraisers cannot take into consideration a good comparable sales and comparable sales which had been impacted by condemnation, this is if the purchase had been done by the condemning authority. Moreover, in the condemnation appraisal, the “damages to the remainder” and values of the part that has been “taken” should first be computed. Also, the possibility of the condemnation appraisal to be scrutinized during the course of the judicial proceeding cannot be avoided. Therefore, meticulous care is necessary in research and preparation of appraisal.
The condemning authorities have broad and almost unlimited rights in condemnation actions. The property can be taken to be transformed into public or private use.
The owners of the properties need to practice caution when dealing with condemning authorities. There are some authorities who have straight forward approach. Usually, their initial offer is presented as the best that they can offer. However, there are also some condemning authorities who initiate it with an offer below the market value and they gradually increase the offer with each step as they go on with the process. The owners of the properties are advised to consult an appraiser or a person knowledgeable about the condemnation process. This is to make sure that the treatment would be equitable and fair.
Majority of the condemnation actions take a certain part of the property termed as “part taken”. Its market value is usually not for meaningful contention. Furthermore, in general, the damages to the “remainder” or balance of the property are very contentious matter.
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