Is Eminent Domain Appraisal Necessary?
Updated: Feb 28, 2019
Eminent domain is the process through which the government takes private property for public use in exchange for just or fair compensation. Condemnation is the act or process of enforcing the right of eminent domain.
The idea of fair compensation may seem flattering at first, but going through the process of eminent domain, without the guidance from a valuation professional could be a big mistake. Acquisitions by eminent domain require a very specific set of appraisal and valuation advisory skills. In order to know what the property or assets are worth, a certified appraisal should be conducted by a Senior Accredited Appraiser.
Although the eminent domain / condemnation process is thought to be fairly straight forward, not all property owners are aware of the legal formalities. For handling such matters, it is essential to hire an experienced legal team as well as an experienced valuation team to provide unbiased and independent advice and support throughout the process. Having an appraisal for eminent domain and condemnation proceeding prepared by experienced valuation professionals is the best way of to ensure the property owner that they are receiving a fair and just compensation.
MR Valuation Consulting, LLC provides customized assistance to legal teams representing businesses as well as governmental agencies in properly quantifying and articulating value for disputes resolution. The Senior Accredited Appraisers at MR Valuation Consulting, LLC have the knowledge, experience, and skillset to provide reliable and well-supported appraisals. If you need an appraisal or valuation advisory services for eminent domain or condemnation proceedings, then MR Valuation Consulting, LLC is the right option for you!
For more information, feel free to contact us at MRV@MRValuation.com or call us at (732) 780-6000.