Can I be forced to sell my property for less than the fair market value?

In Washington, eminent domain law allows the government to acquire private property for public use. According to Washington state law, the government is required to pay the owner fair market value for the property. Fair market value is the amount that someone willing to buy the property would pay for it in an arm’s-length transaction. So, technically speaking, the owner of the property cannot be forced to sell for less than the fair market value. The government is required to offer an owner the fair market value for their property, which typically involves a licensed appraiser. Additionally, the government is required to provide the owner the opportunity to challenge the appraisal in court. However, there are times when the government may be able to acquire the property at a lower price than the fair market value. This typically happens when the owner is willing to negotiate and the two parties can come to an agreement that is mutually beneficial. Of course, this is not the same as being forced to sell for less than the fair market value. In summary, Washington’s eminent domain law requires the government to pay the owner fair market value for their property. However, there may be times when the two parties can come to an agreement that results in the owner receiving less than the fair market value.

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Can I be forced to sell my property for less than the fair market value?

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