Eminent Domain Appraisals are most often developed as a
result of a whole or partial taking of real estate by a government agency or
utility company. The purpose of an Eminent Domain Appraisal is to determine a
fair amount of compensation to pay a property owner experiencing a loss of
property or property rights. Appraisals performed in a total taking of a
property are usually considered simple evaluations. The taking of a portion of
a property through Eminent Domain is much different and typically requires a
complex appraisal demonstrating the Unimpaired Value, Impaired Value and a
Damage Value of a property. The Impaired Value is deducted from the Unimpaired
Value, resulting in the Damage Value. This is called a Diminution in Value
Appraisal or a DIV.
Few companies have more experience in developing Diminution
in Value Appraisals than ELLIOTT®. We have prepared hundreds of DIV Appraisals
nationwide and understand what is required to deliver a professional Eminent
Domain Appraisal. Give us a call to discuss your Appraisal needs.