That is all I know for the time being. Has anyone else here been through this? --76.29.xxx.xx

Effective way to get rid of residential blight. --69.130.xxx.xxx

I will admit that Taylor St does not have the best reputation in my town but since 2007, I have made a small fortune just by renting out this humble no-frills 800 sq.ft. 2/1 house on Taylor Street. It will probably be bulldozed in about one year. --76.29.xxx.xx

--184.4.xx.x

Roy,if you have the nicest house in theory you should get paid for it,maybe bring some high comps for the appraiser to use.I would play games with them, i would have a friend sue me and win and file a large judgment,larger than the value of the house and see if they will just pay it off --157.245.xxx.xx

Would you get more money if it is appraised as a rental vs. just a SFH? --73.19.xxx.xx

--50.96.xx.xxx

The appraiser told me on the phone it would be a market value appraisal. It will be the same appraisal that one would get if a bank had ordered the appraisal for a mortgage. Last July, I sold another similar house in this same neighborhood for $57,500. --76.29.xxx.xx

Roy, would you accept $57500 and be happy about it? personally i think there should be a premium and no income tax on something the govt takes lke that --157.245.xxx.xx

Is it taxable income??? You don't WANT to sell it... --72.82.xx.xx

--76.29.xxx.xx

You should definitely factor lost rent in. Go for 2 years. Insurance will give 6 months on a total loss. Wouldn’t hurt to try. --24.152.xxx.xx

On the selling side, usually the State hired appraiser will asses it to the high side. Politicians don't like headlines where Grandma didn't get enough out of her house to replace it so the highway department is ok with the appraisals going in a little high. Then, when you get the notice go talk to them and tell them that you think the appraisal was low by 10% and are prepared to appeal it all the way up. Ray's option to purchase is one of many things you can use to show them that it was low, your own paid-for appraisal is another. Besides, 10% is way less than their cost to fight the appeals as well as the time delay they want to avoid. There's money to be made on these deals. There's probably an anxious property owner on that street that would sell to you at a discount to avoid all the mess. You should be able to clear 20% profit on every one you buy at discount. --209.205.xxx.xx

Roy,another idea, the city may own a bunch of houses all over town, maybe you could make a deal and trade them for something you like, maybe even get 2 or three places for the one they need from you. --157.245.xxx.xx

There is a law that if the City takes a property under Eminent Domain, they have to pay all liens. --47.155.xx.xx

Also, the appraiser told me on the phone they have what are called "relocation counselors" which will assist my tenants in finding another place to live. In addition, they (ALDOT) will pay the relocated tenant's rent for at least 6 months until they are settled. And that rent is paid directly to the landlord too! --76.29.xxx.xx

A couple months after the properties were all purchased and boarded up…….in rolled the bulldozers and heavy machinery. Nothing but dirt lots now. --24.52.xxx.xxx

Aren't many of your homes in the same area? How will sale of the one property impact your portfolio? --50.96.xx.xxx

If the state takes the property, you have two years to replace the property and avoid taxes. Kind of like a 1031 conversion. --98.34.xx.xxx

On a side note, 20 years ago, Walmart wanted to build a Super Walmart here that would require them buying out an entire neighborhood of 150 houses all with people living in them. At the time, market value of each house was approx. $25,000. Deep pocket corporate buyers at Walmart offered each homeowner $90,000 cash for their houses under one condition, you had to be moved out in 90 days or less before you could collect your cash payment. Without any ED involved here, those 150 homeowners agreed to sell their houses to Walmart quickly. The bulldozers came and leveled the entire neighborhood and now we a Super Walmart there. --76.29.xxx.xx

My advice: somewhere in your state is an attorney that does nothing but eminent domain cases. Get them to do it for a %, not by the hour. I got a property right now that has a 2 lane road going to a 4 lane road. Need land from me. Got an attorney to do it for a flat %. How it works, if INDOT offer 100K... he gets it negotiated to 200K, he gets 25% of the 100K higher price. Goes to court, its 35% of the higher valuation. If he doesn't get a higher price, his loss. --170.203.xxx.xx

6 months ago I was contacted by a law firm that specializes in EM cases. They were not even located in my own state. I am sure they mailed letters to everyone on Taylor Street. Whenever there is an opportunity to make a buck, the legal vultures seem to be everywhere. --76.29.xxx.xx

OR... you could negotiate as a contractor to get PAID to remove all that stuff! When it comes to government, there are lots of dollars to be made. --74.222.xx.xxx

My city has a lot of vacant lots where houses use to be located before the city knocked them down with a backhoe. them. When there are no buyers at the tax sales, those houses eventually get demolished. My city has it own CAT front end loader with a back hoe on the rear. Combined with a dump truck, the city can make a house disappear in just a few hours. --76.29.xxx.xx

Let them know this is your best rental and add for lost rent. --67.61.xxx.xxx

Best of luck to you. I have a similar situation going on right now. City wanted to use my yard ( about 1/3 acre) for their equiptment, etc. while they were working on demolishing a property next door. They offered me about $200.00 for a 3 year easement. I said no, it's worth more than that and they took it anyway and I got nothing. --68.191.xx.xx

Best of luck to you. I have a similar situation going on right now. City wanted to use my yard ( about 1/3 acre) for their equiptment, etc. while they were working on demolishing a property next door. They offered me about $200.00 for a 3 year easement. I said no, it's worth more than that and they took it anyway and I got nothing. --68.191.xx.xx

My dad remembers moving the flagged stakes in an effort to keep them from taking the property. He was pretty young and only knew a little of what was going on. Now he drives on an overpass and remembers that he used to live there. --107.147.xx.xx

I will ask the appraiser if I will be allowed to remove certain items (windows, water heater, etc) once the ALDOT condemns the house. --76.29.xxx.xx

But then again if your state government is like so many others making sense doesn't compute. --107.147.xx.xx

Roy- You should have least contacted that law firm and see what they offer. I will gladly give my attorney 25% in my example. He knows the ins and outs of what can be done and get more $$. I don't. I also don't have the time to deal with it. --170.203.xxx.xx

Roy- You should have least contacted that law firm and see what they offer. I will gladly give my attorney 25% in my example. He knows the ins and outs of what can be done and get more $$. I don't. I also don't have the time to deal with it. --170.203.xxx.xx

Value can be determined a few ways---comps & value based upon the rent you receive. Suggest that you figure it out both ways and ask for the higher. --76.138.xxx.xxx