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Appraisals for Eminent Domain
At Bibeault Appraisals, we are committed to providing credible, logical, and bulletproof reports for use in eminent domain proceedings. We provide appraisals to local municipalities and state agencies looking to establish Just Compensation for eminent domain projects; we also provide appraisals to property owners who have been affected by projects. Request a Quote
FAQs
Why should I get an appraisal?
Eminent domain proceedings involving commercial properties can be complicated. There are multiple reasons to order a real estate appraisal for eminent domain proceedings:
Fair Compensation: An appraisal provides an accurate, professional estimate of the property's market value. This is essential for ensuring that fair compensation is received for the property being taken.
Negotiations: A detailed appraisal report strengthens negotiating positions by providing a concrete, expert-backed valuation. This can be used to argue for a higher compensation amount during negotiations with the government entity, if you are a property owner. An appraisal can also serve as evidence in court to show that the compensation offered is inadequate and that a higher amount is warranted.
Assess Impact on Property Use: If only part of the property is being taken, an appraisal can help determine the impact of the partial taking on the remaining property. This is important for assessing damages to the remaining property.
Legal and Procedural Compliance: An appraisal provides a formal and detailed document that can be used for legal procedures and documentation in eminent domain cases. Professional appraisals follow recognized standards and methodologies, ensuring that the valuation process is credible and adheres to legal requirements.
How long do appraisals for eminent domain take?
Appraisals for conventional commercial properties typically take 3-4 weeks (15-20 business days) to complete. Depending on the number of affected properties, appraisals for large-scale projects may take up to three months. Appraisal reports completed for eminent domain generally require a higher level of reporting because of their potential use in court proceedings.
Why should I choose Bibeault Appraisals for my eminent domain appraisal?
Independent, Well-Supported, and Accurate Appraisals: Our appraisers are committed to professional integrity and independence, and employ contemporary methods of analysis to ensure that your appraisal is accurate and defensible. We give individualized attention to each appraisal and perform the necessary due diligence for each assignment. Before transmittal, your appraisal will be rigorously reviewed for quality and accuracy.
Timeliness: We are always willing to accommodate the strict timelines of lawyers and property owners. We are committed to meeting our deadlines and providing prompt answers to any inquiries or possible revisions.
One-on-One Attention: Our view is that every client deserves individual attention. We are committed to treating every client with the utmost respect, helping them navigate the appraisal process and answering any questions they may have along the way. We always have time for your inquiries and follow-up questions, and are committed to making the appraisal process as seamless as possible.
Professionalism and Expertise: All of our commercial appraisers are licensed professionals who approach every assignment with solemnity. We are versed in contemporary methods of analysis and data collection, and ensure that every report is well-written, defensible, and credible. We are also available to provide expert witness testimony in depositions, mediations, and court proceedings.
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