Losing Land to an NCDOT Project? Why It Can Pay (Literally) to Consult With an Attorney
When your land is being taken by the government, you might not know what to do - most people don't. It is common to assume that what the government is offering you for your property is all you are entitled to, but that is often not the case.
Here is a story about a client we helped, who (luckily) contacted us first before accepting the government's offer:
Our client owned a commercial property and operated a business on this property for decades. In order to build a new road in the area, the NCDOT took the commercial buildings and most of the valuable land from his property. Based on an appraisal performed by an appraiser who was hired by the NCDOT, our client received an offer of only a few hundred thousand dollars for his property.
After requesting and receiving a copy of the NCDOT's appraisal, we concluded that the appraisal did not adequately value the property and therefore the offer did not represent the just compensation that our client was entitled to.
There appeared to be two issues with the NCDOT appraisal that resulted in the offer from the NCDOT being too low.
1) First, the value the NCDOT appraiser placed on the commercial buildings located on the property appeared to be inaccurate and incomplete, in our estimations. The appraiser indicated in his appraisal report that he arrived at his valuation of the commercial buildings by researching the cost to construct a typical commercial building in the area. Conducting our own research of the cost of commercial buildings in the area, we were able to prove that the value of our client's commercial buildings, which were taken by the NCDOT, was much higher than what was estimated by the NCDOT appraiser.
2) Second, the NCDOT appraiser valued our client's land substantially lower than what we believed the value of the land to be in the real estate market. In order to help establish a more accurate value of our client's commercial buildings and land, we consulted with and worked extensively with an independent appraiser. This independent appraiser performed what we concluded to be a more accurate appraisal that we were able to use in negotiations with the NCDOT.
After we performed our work outlined above, we made a demand to the NCDOT to pay our client for the taking of his property - an amount in line with what the independent appraiser had estimated as just compensation. Based on this new information we provided to the NCDOT, we were able to achieve a settlement for our client for several hundred thousand dollars more than what the NCDOT had originally offered.
NC Land Condemnation Attorneys
If your land is being condemned by the NCDOT or another government agency, you owe it to yourself to have a professional review the government's offer to you.
At our firm, we call this a "case evaluation" and we do it for free. Click here to get yours.
Disclaimer: This case does not represent our entire record. Each case is unique and must be evaluated on its own merits. The outcome of a particular case cannot be predicated upon a lawyer's or a law firm's past results. Our client's identity has been removed or changed to protect his privacy.