What is the fair market value of my property?

The fair market value of your property is the amount of money an interested buyer would pay for it on the open market. In Oklahoma, the amount of money that an owner receives when their property is taken by an entity using eminent domain law is based on the fair market value. Generally, the fair market value is determined by having an experienced appraiser evaluate the property, taking into account factors such as its location, condition, use, and values of similar properties in the area. If the owner and the entity acquiring the property cannot agree on the fair market value, both parties can have an appraisal done and the two appraised values will be averaged to determine the fair market value of the property. Additionally, the court can also involve an independent appraiser if the two parties cannot agree on the value.

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What is the fair market value of my property?

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