Has Anyone Done Something Similar

[Pittsburgh Pete]

Eminent Domain fees can reach $10-20k easily and are often much more than that.

Hardly would be the case with a total take (OP's situation), unless it was one bizarre, one-of-a-kind headache. Higher figures typically result from a partial taking where a before and after values are required. Those can get quite complicated and difficult.

 

[nstanbru]

You just have to have her sit in the car for a minute and she will change her mind.

...and then drive it for 20 minutes, it'll be a done deal.

 

[Gobears81]

that is Illinois and most of its local governments main strategy. Bleed you dry through legal fees so you can not longer fight them. They do that by making sure any fighting back is totally in order.

Generally, when the client is the acquiring agency, they want fair values and the final compensation is often more than fair. I have occasionally worked for clients that make comments suggesting that they are pushing toward the conservative end, but explaining why something is done in a certain manner that would result in higher compensation, there is almost never any additional resistance. I reviewed an appraisal just recently and thought to myself that if this was the report that is used to determine compensation, the appraiser would be absolutely crucified in the courtroom. Reviewing on this type of work is typically more collaborative than a bank reviewer and if the appraisal is for pennies on the dollar, a good reviewer should catch that (not that a good bank reviewer wouldn't). I'm guessing that the acquiring entity is a city or village in your case, but overall, I don't think that most local governments here take such an approach.

 

[Pittsburgh Pete]

Generally, when the client is the acquiring agency, they want fair values and the final compensation is often more than fair. I have occasionally worked for clients that make comments suggesting that they are pushing toward the conservative end, but explaining why something is done in a certain manner that would result in higher compensation, there is almost never any additional resistance. I reviewed an appraisal just recently and thought to myself that if this was the report that is used to determine compensation, the appraiser would be absolutely crucified in the courtroom. Reviewing on this type of work is typically more collaborative than a bank reviewer and if the appraisal is for pennies on the dollar, a good reviewer should catch that (not that a good bank reviewer wouldn't). I'm guessing that the acquiring entity is a city or village in your case, but overall, I don't think that most local governments here take such an approach.

As part of the appeals process Penndot (PA) provides funds for the plaintiff to hire and attorney or an appraiser.

I always try to give the property "the benefit of the doubt." Settling for a reasonable amount saves the Commonwealth money ultimately as appeals tend to be time-consuming and costly.

 

[Stephen J. Vertin MAI]

Generally, when the client is the acquiring agency, they want fair values and the final compensation is often more than fair. I have occasionally worked for clients that make comments suggesting that they are pushing toward the conservative end, but explaining why something is done in a certain manner that would result in higher compensation, there is almost never any additional resistance. I reviewed an appraisal just recently and thought to myself that if this was the report that is used to determine compensation, the appraiser would be absolutely crucified in the courtroom. Reviewing on this type of work is typically more collaborative than a bank reviewer and if the appraisal is for pennies on the dollar, a good reviewer should catch that (not that a good bank reviewer wouldn't). I'm guessing that the acquiring entity is a city or village in your case, but overall, I don't think that most local governments here take such an approach.

It is the City that this man is fighting and you are right many Counties try to be fair (believe it or not one is Cook County). I guess that I was a little bitter when I made the above post. I am bitter about the really, really bad Counties here (and there are a handful). There are some Counties in northern and down around the St. Louis area in Illinois that are very unjust and most attorney's for these Counties and Cities are also on a number of boards such as the board of reviews for real estate taxes and so on. They have political connections and generally do local government work. The County where this ED is located is incredibly unfair. In fact I had 4 or 5 cases going on at one time there several years back. We won every ED case. They do not want to settle anymore. Some of these attorney's honestly believe they can out fox someone doing an honest job (whose been at it for decades).

When talking about price for ED work it is not just an appraisal fee. There are depositions, attorney meetings, consulting on the opposition's report and testimony. They can quickly add up to +$10,000 as NP pointed out (and these are typical properties). I have been in cases where fee were much higher. I use to like being a expert witness. Now,,, not so much. What I love to do are strange property types. Unique one of a kind special use facilities. Most of the work I have been doing over the last 2 to 3 years has almost been exclusively bio-gas generating production system (BGPS), anaerobic digesters and landfill system and/or water-sewer plants.

Typical commercial bank work has almost disappeared here (at least for me). That is okay with me now days. Fees are so low, it did not seem worth getting up and doing the work anymore. I switched over from $2,000 to $3,000 fees to average fees of +$10,000. I have done maybe 8 to 9 bank jobs in the last 2-years. Ever since I posted "What is going on in the Chicago Market"? I just stopped putting time into marketing and trying to compete for jobs that new-be's could do. Anything that someone who pays for CoStar could figure out. In fact I do not have clients anymore as Bob Gorman says. One thing about this businesses is you have to reinvent yourself more and more these days.

 

[Raven59]

Hardly would be the case with a total take (OP's situation), unless it was one bizarre, one-of-a-kind headache. Higher figures typically result from a partial taking where a before and after values are required. Those can get quite complicated and difficult.

Depends on the assignment.

 

[Raven59]

It is the City that this man is fighting and you are right many Counties try to be fair (believe it or not one is Cook County). I guess that I was a little bitter when I made the above post. I am bitter about the really, really bad Counties here (and there are a handful). There are some Counties in northern and down around the St. Louis area in Illinois that are very unjust and most attorney's for these Counties and Cities are also on a number of boards such as the board of reviews for real estate taxes and so on. They have political connections and generally do local government work. The County where this ED is located is incredibly unfair. In fact I had 4 or 5 cases going on at one time there several years back. We won every ED case. They do not want to settle anymore. Some of these attorney's honestly believe they can out fox someone doing an honest job (whose been at it for decades).

When talking about price for ED work it is not just an appraisal fee. There are depositions, attorney meetings, consulting on the opposition's report and testimony. They can quickly add up to +$10,000 as NP pointed out (and these are typical properties). I have been in cases where fee were much higher. I use to like being a expert witness. Now,,, not so much. What I love to do are strange property types. Unique one of a kind special use facilities. Most of the work I have been doing over the last 2 to 3 years has almost been exclusively bio-gas generating production system (BGPS), anaerobic digesters and landfill system and/or water-sewer plants.

Typical commercial bank work has almost disappeared here (at least for me). That is okay with me now days. Fees are so low, it did not seem worth getting up and doing the work anymore. I switched over from $2,000 to $3,000 fees to average fees of +$10,000. I have done maybe 8 to 9 bank jobs in the last 2-years. Ever since I posted "What is going on in the Chicago Market"? I just stopped putting time into marketing and trying to compete for jobs that new-be's could do. Anything that someone who pays for CoStar could figure out. In fact I do not have clients anymore as Bob Gorman says. One thing about this businesses is you have to reinvent yourself more and more these days.

$10k and up are becoming more the norm.

 

[Elliott]

I wouldn't want to sit on the stand on an emmient domain case and be asked about my compensation being based on the collateral for a classic car. "So Mr. Appraiser, your telling the court your compensation is contingent on the owner of the property having enough money to pay your fee and if he doesn't have enough money and can't pay you from this case then you get a classic car that is valued three times your fee, is that what your telling the court?" Mr. Appraiser, "Aren't you prohibited by your code of ethics from receiving a fee contingent on the outcome of the report?" "Your honor I request this appraiser's testimony be stricken and he step down as a witness in this case."

Keep the fee compensation standard.

 

[Mark K]

It sounds like the OP has decided, but, would I do it? Oh yeah, without a second thought. BTW, my wife wouldn't know about it until or if I drove it home; she's been surprised at stranger things than a '57 Chevy. I recently went to a Mecum auction to look around. She was actually surprised that I didn't bring something home. BTW, the owner would have to sign it over to me first and then I'd sign it back after I got paid.

Most of my work is R/W and eminent domain. I've spent enough time on the stand to not worry about some imaginary Perry Mason questioning scenario that concerns others.

 

[Peter LeQuire]

I would guess that the increases of values in vintage/antique/special interest automobiles far out paces the increase in values of SF residential real estate, certainly out paces the increases in (most major stock indices. I'd gladly swap the highest SF fee I'd earned while I was working for an original '57 Bel Air with a 2 or 3 Classic Car Rating Guide or above an 85 on the commonly used 100 point guide.