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| Retaining an attorney unless he or she agrees to work on a contingency basis is money thrown away. Find every piece of like real estate for sale in the area for about a 25 mile circumference and note the asking prices for each. Add into this cost analysis your costs to sell your land and purchase new to include taxes on capital gains and added costs if any to access and get your equipment to the new property along with closing costs. Add these costs together and figure the total costs per acre to obtain and use new land. Pick out the most expensive parcel or the parcel of land you want the most with its total cost to purchase and make a counter offer to the Airport Authority to either make a 1031 tax exchange to swap out properties or present the cost per acre you want for your land based on the above points.
I did this very thing here in TN when the state widened Hwy 79. I did not reply to any purchase offers (the offer the state made was a laughable $1500) I waited until about a month before the deadline to setting and wrote up and real estate market analysis based upon the very prices the state paid to all of my neighbors for the property taken for the highway project. I found out some folks were being paid outrageously high prices for their property which I so diplomatically pointed out in my analysis and further diplomatically made my counter offer based on these ridiculous prices. I also sent an email to Govenor Bredesen outling how the property aquisition process was being abused. They settled with me for $10,000. Turns out their tactics are to low ball and intimidate folks into selling first...........the folks who were business owners got better deals and some with the right last names got great deals. The trick is to hold out long enough but not too long to avoid goint to court (in court you will loose even if you win due to attorneys fees and court costs) and then make an offer that is on the high end or maximum of what the property aquisition folks can offer but not too high. In my case, $10,000 was the dollar amount limit before it met the threshold to be worth the states time to go to court. | |
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Emminent Domain off topic need help
