Over the last three years, the economic climate has allowed condemning authorities to find new ways to fight landowners in an attempt to get properties they need at the lowest prices possible.
Essentially, they want to build road projects, but they don’t want to pay fairly for the land that they need for these projects.
Having represented more landowners than any other eminent domain attorney since 2007, our firm has seen more ways the government has attempted to deflate landowner property values – and successfully defended against them – than anyone else in Nevada.
In this economic climate, it is more important than ever that landowners not wait until the last minute to seek counsel to protect their property values – whether they wish to go to court or not to defend their property values.
Condemning authorities will use every resource available to them to get property they need at prices that are best for them. Expect them to look very closely at the following items in an attempt to deflate the value of your property:
Rental Agreements: If you have rental properties you have to protect your rental agreements. Even though the law in Nevada says you should be paid the “highest price” for your property based on its “highest and best use,” a popular tactic of condemning authorities is to demand existing rental agreements from landowners and then use the prospective income from these leases to value the property in their favor.
Property Taxes: By protesting your property taxes you may admit that the value of your property is lower than you wish to claim if your property is taken. Such an admission could significantly hurt your chances of receiving a higher value for your property.
Purchase Agreements: If you recently purchased or are purchasing property that may be in the path of a road project and you are buying the property via foreclosure sale, distressed sale or you simply got a great deal on the property, you need to protect this low purchase price from being used against you by condemning authorities who wish to pay you as little as possible for your land.
Listing Your Property for Sale: If you list your property for sale, you could potentially be admitting to a low property value. The government could use that listing against you as your opinion of value in purchase negotiations or at trial. Even if you think the price at which you list your property is high, our office may find that, based upon its highest and best use, your opinion of value is low and you should be paid much more for your property.
Bank Financing: Usually, a bank will appraise your property before it agrees to a lend on it. A bank appraisal is not an eminent domain appraisal and it does not value property according to eminent domain law. These appraisals only seek to ensure that the property meets conservative loan-to-value criteria. However, more and more condemning authorities are going after landowner bank files to see if there are any low appraisals in the files that they can use against landowners.
Please call us directly and schedule an appointment for a free consultation. Whether you choose to hire an attorney or not, we will help you resolve these issues and protect your property values so when the condemning authorities knock on your door, you can deal with them from a position of strength, knowing you have addressed these important items and they cannot be used against you.