How is the property appraised?

 

Appraisers generally use three methods of appraisal to estimate the value of real estate: the market approach, the cost approach and the income approach. Appraisers also determine, during partial takings by the condemning authority, the extent (if any) of damages to the remaining property. Often the greatest element of compensation is not for the property taken, but for damages to the remainder. This is particularly true where the condemning authority is only acquiring an easement such as the one proposed. It is important that you retain an appraiser who understands the concept of damage to the remainder and will include this damage in his or her appraisal.

 

Home | Results Matter | Blog | Contact
© Moffitt & Phillips, PLLC. All Rights Reserved
website design firm:1011 Web Solutions
Moffitt & Phillips, PLLC is responsible for the content of this website. This website is designed for general information only and should not be construed to be formal legal advice, nor the formation of a lawyer/client relationship. Anyone viewing the content present on this website should seek the services of a qualified attorney to evaluate any Arkansas eminent domain matter, Arkansas condemnation matter, or any other legal matter. Please note that past performance does not guarantee future results. Moffitt & Phillips, PLLC is located in Little Rock, Arkansas, and has attorneys licensed to practice in the states of Arkansas and Tennessee. Moffitt & Phillips, PLLC © 2012