Condemnation Appraisals / Eminent Domain

 

Condemnation is the process by which governments and public utility companies take real property for public use.  This usually means strip takings along existing roadways for roadway widening, public utility corridor widening, curb cuts and related uses.  In certain instances takings can be the cause for the demolition of buildings, the loss of necessary parking / signage or takings can in special situations even cause a loss in value to a remainder.  Owners are due "just compensation" for the taking of their property.

 

The Uniform Act, or the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 applies to any Federal or federally-assisted program or project if Federal funding is used in any phase of the program or project.  The purpose of the Act is to guarantee that property owners are treated fairly and uniformly when their property is acquired.  Appraisals completed for federally-assisted program / project takings are thus required to conform to Title III of the Act and they must also conform with Federal regulations. Government acquisitions for federal roadways is usually more difficult for appraisers that acquisitions by state agencies since appraisal rules are more stringent.

 

Court statistics reviewed by the appraiser indicate that 80% or more of condemnation disputes between a land-owners and condemning authorities are settled before they go to trial.  Thus, few condemnation cases actually go to trial. I have attended several condemnation trials in Nevada, so it does happen.  

 

Condemnation actions can impact only a portion of a real property and an appraiser must considers the the whole property, the part taken and what affects the taking has had on the remainder.  Often a "before" and "after" methodology is employed by appraisers.

 

Condemnation appraisal is a specialized area within the appraisal profession, and few appraisers have had a great deal of experience in it.  Horizon Village Realty & Appraisal has many years of appraisal experience working for both client land owners and the government / public utility companies in this area.  Contact us with your questions or concerns regarding condemnation appraisal assignments in Nevada at 1-702-568-6699. 

 

 

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Commercial Real Estate Appraisals in the Las Vegas & Henderson, Nevada Area.