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Getting Fair Compensation for Your Property in McKinney

Under the fifth amendment of the United States Constitution, the government cannot take your private property and convert it to public use without offering reasonable compensation. If the government or an authorized corporation is trying to acquire your property, you have a right to receive adequate financial reimbursement.

If the government or a contractor is attempting to purchase your land through the eminent domain process, a knowledgeable eminent domain lawyer could take the necessary legal actions and represent you at every step of the seizure process. Call today to learn more about getting fair compensation for your property in McKinney.

Defining Just Compensation

The purpose of just compensation is to make the landowner whole again following the seizure of their property date. Accordingly, compensation should put the landowner in the same financial position they occupied before the government or corporate interest seized their property.

In dollars and cents, the buyer should compensate the landowner for the land value, or, in the case of a temporary seizure, the property’s depreciation value resulting from the proposed land use. Many buyers have no interest in paying fair value, and landowners often file a dispute in order to receive adequate compensation for their property.

Placing a Value on the Subject Property

The landowner and the buyer typically dispute the fair market value of the land at issue. In determining value, the landowner may hire an expert witness who can testify about the land’s value before a commissioner or at a courtroom trial. A property’s fair market value depends upon a variety of circumstances, including:

  • The extent to which the property is developed
  • The potential or current use of the property
  • Effective zoning ordinances which may affect the subject property
  • The property’s accessibility
  • The size of the property
  • Any unique characteristics of the property

Factors like expense and stress to the landowner, like the cost of relation, do not play any role in determining a property’s fair market value

When appraisers assess the value of a piece of property, they may use one of several approaches. For example, they may use the market approach, which involves comparing recent property sales with the subject property, to approximate its fair value. Alternatively, they may use the income approach to assess the value based upon the property’s expected future income. An experienced condemnation lawyer could help find and hire an expert witness to appraise a property’s value properly in a particular case.

Condemnation Proceedings

During condemnation proceedings, a landowner can introduce evidence, such as appraisals, which point to the property’s fair market value.

If the landowner is dissatisfied with the amount of compensation awarded at the commissioner’s hearing, they could file an objection with the appropriate court and challenge the amount of the award at trial. A condemnation lawyer could help file the necessary paperwork to move to an eminent domain trial, should that be necessary.

Talk to an Attorney to Get Fair Compensation for Your McKinney Property

Getting fair compensation for your property in McKinney can be a long and tedious process, and the government or corporate buyer will likely fight you every step of the way.

A skilled McKinney condemnation lawyer could assist you with recovering fair compensation for your property, represent you at hearings, and take all of the necessary legal steps to defend your property rights.

Free Consultation

Reviews

The McCraw Law Group
4.8
Based on 82 reviews
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Zane Allen
Zane Allen
04:39 18 Dec 19
I was in an accident in March and had injuries resulting from the crash. Obviously my first call was to a doctor to get... checked out but was told I was going to need physical therapy. My second call was to the McCraw Law Group. They took care of all of the grunt work so that all I had to focus on was getting better. They were very communicative about the process, and better yet, they were incredibly responsive to any emails, calls, and questions. I was very appreciative and thankful for all of their hard work. They are a great group of people to work with when you’re needing the help.read more
Elisa Dean
Elisa Dean
15:38 16 Dec 19
I recommend The Mccraw Law Group to anyone who is hurt in an accident.My experience has been wonderful. They do the... best they can to get the most from the insurance company. My communications have been with Vanessa, Suzanne and Jason.Jason is very special to me. He understood my needs and was very caring and the sweetest attorney I have ever met. He was honest and did everything he could to bring my case to a conclusion.Vanessa and Suzanne are very sweet and are there to help every step of the way.read more
Fernando Salas
Fernando Salas
19:07 10 Dec 19
First time needing a lawyer. Everything went extremely smooth and quick. Mr. McCraw went to my house after my car wreck... and I knew at that point that I was in good hands. Everyone who works there are so nice and will answer any questions or concerns you have. Thank you guys for all of your help.read more
Adelyn Braswell
Adelyn Braswell
17:02 10 Dec 19
When me and my family recently got hit by a drunk driver. They helped us with everything we needed. We had so many... questions and didn’t hesitate to answer. It was our first time with any lawyer so they made everything so easy for us, and got it all done so quick. They did everything in their power to get us all the money we deserved. They were all so friendly and I would recommend them to anyone.read more
Courtney Brooks
Courtney Brooks
16:12 12 Sep 19
I had a wonderful experience from beginning to end with the McCraw Law Group. My case was accepted and I was kept up to... date on how it was proceeding, and when it came to a settlement, we got more than expected. Everyone was very kind, the court proceedings went smoothly and I was extremely satisfied. I will definitely use them again if anything else arises.read more
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