Anyone Have Experience With the DOT...

[B00kW0rm]

buying your home?

We currently live beside a road that is scheduled for expansion...from a two lane, into a four lane. For us, that means the state will be buying our house.

We had our first meeting, this week, with a DOT acquisition rep and the process was explained. Just wondering if anyone here has first-hand experience with the state in which you live buying your home.

Thanks

[tufhelp]

No direct experience with that, but one thing for sure: Never ever take what the gooberment says for gospel - get a legal second opinion at a minimum - Those bastiges from the state or the feds will tell you anything and then stick it in and break it off once they have there pincers on you...

[blutfort]

There was a post in this forum about negotiating with power companies/telephone companies/other utilities. in the recent past. I've tried searching on eminent domain and easement.But it isn't finding the thread. I maust be doing something wrong.
The individual who posted the message suggested not accepting the first offer and asking only to deal with a specific level negotiater, not the low level functionary that will make the initial offer.
Hopefully this will remind someone else about the thread I'm referencing and they can help out. Or you might have better luck locating it yourself.

[B00kW0rm]

tufhelp & blutfort,

Thank you for your insights. We've had the initial visit, next will be an appointment with an appraiser, then a comparable housing search will be performed (by the DOT), finally..we'll receive their first offer.

We should have an initial offer by the end of Sept/first of Oct.

[WileyCoyote]

The DOT must give you "fair market value" - which in today's declining market, could mean that you get screwed. Normally if you fight them (depending on the state) they can declare eminent domain and take it. On the other hand, one business owner I know got $1.2 million for a 90-foot long, 50-foot wide stretch of property in front of his business! It all depends on where you live, what the laws are, what the property values in your area are.

If you get an independent appraiser to give you a quote based on local sales and home values, that may be a starting point. Expect negotiations and underbids. If neighbors are having to sell, too, you could all get appraisals and get higher prices - or lower prices, depending - you can all go together and try to get a fair and equitable deal. You could also get a legal representative to represent all of you, or just yourself, to ensure that no one pulls a fast one as well as to ensure that no one trods unnoticed on your rights. I asked around at a Real Estate website when there was just such a possiblity for our house, and that's the advice I got. Remember that they may try to underbid you because it is your patriotic duty that the needs of the many (motorists) outweigh the needs of the one (property owner). Dependng on their tactics and their legal rights as a state entity, they could try to publicly embarass you - or just quietly pay you off. Be prepared for anything, know your rights, and have someone in your back pocket to help you defend them if necessary.

[flatwater]

This may cost a little now but in the long run will pay for it's self , Have a lawyer with you when negotiating.
Flatwater

[B00kW0rm]

We are in NC. The acquisition rep did say that we had the right to NOT settle. However, he also advised that after they tried so long to come to an agreement with us...they (the state) had the right to just have the property condemned and we wouldn't have a choice.

I told him that I understood that was their policy and I really didn't anticipate a long, drawn out, negotiation phase due to the fact that we (DH and I) had been researching comparable housing for close to a year and we we'd know if their first offer was reasonable or not.

Fair market value: this was something the rep talked about as well. He explained the FMV was what an independent appraiser valued our home to be. The difference between appraisal value and the value of a comprable home (sq. footage, # of bedrooms, etc) would be offset through the relocation assistance.

For example: If our home appraises at $10,000...that what's the state will pay us (this money we can use for whateve we want to use if for...according to the rep).

Let's say comparable housing has an average value of $20,000...that's a $10,000 difference. The extra $10,000 would come from the state in the form of relocation assistance. However, the catch is every penny we receive in relocation assistance has to be spent on the new house.

If we found a house we thought was just perfect for us and the cost was $15,000...we would receive the following:
$10,000---because that's the appraised value of our current home + $5,000 in the form of relocation assistance.

Another thing that I didn't really like is we're only allowed to take movable items. This home is over 55 yrs old and has some really beautiful handworked/handbuilt features.

In other words, anything that is built in to the home is considered as "fixed" and, therefore ownership of said items is supposed to transfer over to the state once price is negotiated. Even though they're not going to do anything but bulldoze the house.

[Catalpa]

Oh, man, that's just wrong in so many ways! It's adding insult to injury- they're forcing you out of your home, and not even letting you keep a piece of it. Why on God's green earth will they not let you take some woodwork? On second thought, I'll bet they are taking money from a salvage crew that will take the good bits out before it's bulldozed.

Fight them every step of the way!

[WileyCoyote]

Catalpa's right. 55 years old? I'll bet you have copper in the wires and maybe some plumbing too. They will scavenge it if you don't. If it burned down before you moved out or before they took possession, would they still pay you the same amount for the property?

Hate to say it but get a lawyer to represent your rights - and go through the house and write down and take pictures of everything you want to take with you. Then make the lawyer push the deal. (You could even add some things you don't want to take, just to say, "FINE! We WON'T take these, then!" - so it sounds like you are negotiating. Ahem. ;) )