I live on a dirt road that is going to be paved. We have lived here for 21 years. The county need to take 8000 square feet from 1 acer of land and another 5000 from two additional acres. I need to know what the fair market value is. Can anyone help. Also do they have to dig up and replant my friut trees that run along the edge of my land?
2007-08-29 02:34:58 · 7 answers · asked by catwomansga 2 in Business & Finance ➔ Renting & Real Estate
to bostinianinmo I do own the land not the county, and they are offering me 10 cent per square foot. I think that is crazy, not to mention the fact that the highway will be only 30 ft from my front door. By the way i also need to mention that i have three children ages 6,8,10.
2007-08-29 04:46:29 · update #1
It really depends on land value in your area. If the county is taking your land they must pay you for it. You can run it by a realtor to give you a rough estimate to which 13,000sf of residential land is worth. However, your only real plan of attack is to hire a lawyer and appraiser to represent you and get fair market value. It looks though that it may not be worth it because the legal fees and appraisal fees may be close to or more than the land value.
2007-08-29 11:45:29 · answer #1 · answered by tianaramal 4 · 0⤊ 0⤋
Where they are putting in the road is probalby on the city or county right of way to begin with. It's probably not your land to begin with. If so, you will receive no compensation other than the benefit of a paved road.
You can calculate the value per square foot pretty easily, just divide the value of the property by the total number of square feet to get the value per square foot.
Any vegetation that needs to be removed will not be replaced unless you have it moved first before the paving work begins.
Addendum: At 10¢ per square foot, that's over $4,300 per acre. If land values are higher, go to court. If less, take the $$$ and be happy.
Having 3 kids is irrelevant to the issue.
2007-08-29 02:47:31 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 1⤋
A Realtor will be able to give you a good idea. The best way to protect yourself is to pay for a professional appraisal to be done. Tell the appraiser what you need the appraisal for and they'll most likely go out of their way to help it appraise for the highest price possible. They can't just make things up, but they can be as liberal with the appraisal as they can without breaking any rules.
2007-08-29 03:15:25 · answer #3 · answered by Alamo Real Estate Team 2 · 0⤊ 0⤋
You need to check with a realtor since each state and area is different. The town should have an assessment of the property that they base taxes on, however, it's generally lower than what the property would actually sell for.
2007-08-29 02:42:05 · answer #4 · answered by magnolia 5 · 2⤊ 0⤋
It varies from less than five cents to hundreds of dollars, depending on where you are. Go see a local real estate broker, and find out how much it would cost to buy land similar to what you have.
2007-08-29 02:43:14 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Call a local realtor. Not knowing where the property is, there's no way to know the value.
2007-08-29 02:44:44 · answer #6 · answered by Shane 5 · 0⤊ 0⤋
Did they offer to pay? They don't have to, they have the legal easement. I would not push too far on the pay, as I said, it is not required of them to pay you a dime.
And, no, they don't have to replant your trees. If you want them I suggest you move them first.
2007-08-29 02:44:00 · answer #7 · answered by Anonymous · 0⤊ 0⤋