Mooresville, NC (PRWEB) September 25, 2017
Now that the $100-million US 150 road widening project is slated to move forward, Mooresville property and business owners in its path are starting to receive offers from the NCDOT for their property.
If history is any guide, many of these offers may amount to less than what their property is worth, say former NCDOT attorneys at the NC Eminent Domain Law Firm.
The lawyers suggest that owners may want to exercise their eminent domain rights – one of which is the ability to negotiate for a “second check.”
Exploring this “second check” approach to try to reach maximum fair value for property is among the topics scheduled to be discussed at this educational seminar, Thursday evening, October 19th, at 7 P.M. at the Hampton Inn Mooresville.
Attorney Jason Campbell warns property owners to be careful when negotiating with the state implementing a project of this size and scope.
“Homeowners receive a very official offer and think that is the ‘law’ for what they are able to receive,” Campbell said. “If an offer has been made, there may be a more complete and satisfactory offer to be gained through reappraisal and negotiations.”
“Second Check” Approach
Property owners whose land or businesses are targeted for acquisition will eventually receive an offer from the state. Just like any other real estate negotiation, the owner does not have to accept that offer. If the owner chooses not to accept the offer, the state will still acquire the property and deposit the amount of the original offer with the County Clerk for the owner.
This is where the NC Eminent Domain Law Firm’s “second check” approach comes in. In most cases, the property owner is then free to pursue a potentially better, fairer arrangement, without losing the first offer.
If continued negotiations are successful, the property owner will receive a “second” check in addition to the first offer. If continued negotiations do not change the offer, the owner still has the first offer.
“We don’t like it when we see property owners get less money than they should, simply because they didn’t know the full extent of their rights,” said Stan Abrams, also a former NCDOT attorney with the NC Eminent Domain Law Firm.
The NC Eminent Domain Law Firm will host a free informational session on Thursday, October 19th at The Hampton Inn Mooresville (119 Gallery Center Drive, Mooresville, NC 28117) to answer property and business owners’ questions. Those questions typically include:
- How will the value of my property be calculated?
- Can I assume the offer for my property is fair?
- How is fair market value determined?
- What if I lease space? Will there be allowances to move my business?
- Should I get my own appraisal?
For more information about the meetings, please call the NC Eminent Domain Law Firm at 1-877-393-4990.
A division of the Law Offices of James Scott Farrin, the NC Eminent Domain Law Firm is dedicated solely to representing property owners throughout North Carolina, who may be impacted by eminent domain law. The NC Eminent Domain Law Firm is led by attorneys Stan Abrams and Jason Campbell, both of whom previously worked as Assistant Attorneys General for the North Carolina Department of Justice in the Transportation Section, where they litigated condemnation cases for the NCDOT. They have over 25 years of combined experience working exclusively on eminent domain cases. The Law Offices of James Scott Farrin has the legal resources of 43 attorneys and is based in Durham, North Carolina, with 13 additional offices throughout the state to serve its clients.
NC Eminent Domain Law Firm
1001 Morehead Square Drive
Charlotte, NC 28203