The government can occupy a private property under eminent domain rules if the property is needed for public welfare and development. In return for the property, the government has provided compensation to the property owner according to the fair market value. Buu the compensation provided for the first time is not always the best offer you can receive. You can receive your very first offer on the same day an appraiser from the government’s side visits your property. No matter how attractive their offer may look at the time, you should refrain from taking it. When the government desperately wants your property, you get plenty of room to negotiate the compensation with them. If you rush your eminent domain process, you may leave out a lot of benefits that could be yours if you waited. Here are the reasons to avoid the first deal in an eminent domain process.
Take expert’s advice
You will need a consultant to represent your pitch to the appraisers from the government, so you can get the best compensation for your property. You can find an attorney who specializes in eminent domain cases and can connect you to a network of engineers, appraisers, business damage experts and create a team to help you with your eminent domain case. When you are dealing with an eminent domain case for the first time, take the help of an attorney to verify whether the deal is justified or still negotiable. They will provide you an idea of where the offers can go if you reject the first deal.
Information gathering is necessary
The more informed you become of your property, the better you will be able to negotiate with the government on the compensation. When you get the first order, there is a high chance that the negotiator did not utilize all the aspects of your property to make the offer. You can take the help of your own appraiser to find out the fair market value of your home. An appraiser can look for a similar property that was being sold recently and compare your first offer with the value for that home. You will know when the government is trying to lowball you.
You can always negotiate
It is your right as the property owner to negotiate the offer with authority. The eminent domain process will keep going until you accept an offer or visit a court to let the judge decide the fair market value. You just have to be smart enough to deal with the negotiation yourself to gain as many benefits as you can before the government starts to dislike your approach. An attorney can help you find the right information to make a legally justifiable negotiation. Always have at least one counteroffer that is planned with the help of experts.