What is the fair market value of my property?

The fair market value of your property is the amount for which it would reasonably sell for on the open market. In California, the amount of compensation owners are to receive for their property is based on the fair market value of the property taken, according to eminent domain law. The fair market value of your property may be determined by a professional appraiser. This appraisal will take into consideration factors such as the age of the home, any repairs or renovations that have been made, the size and condition of the land, and the location. Additionally, local market conditions, such as the current housing market, can be factored into the appraisal. Additionally, in addition to the fair market value, owners in California may be entitled to relocation assistance, repair or replacement costs and even additional compensation in some cases. This compensation can be determined through the filing of a Petition for Just and Adequate Compensation, with the state court. The court ruling will determine the amount of compensation the owner can receive. In conclusion, the fair market value of your property is determined by a professional appraiser and then reviewed by the court, with the final compensation amount being determined by the court ruling. The appraiser will take into account factors such as the age of the home, repairs or renovations, land size and condition, location, and local market conditions. Owners may also be entitled to relocation assistance, repair or replacement costs, and additional compensation depending on their circumstances.

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What is the fair market value of my property?

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