Walter Energy wants to make a parking lot out of our house

[astriegel]

What is the name of your state (only U.S. law)? Alabama

The process is just beginning and Im sure I will probably have to seek legal help but I thought Id start here. Walter Energy wants to put a mine in my backyard. I own a house and 3 acres and my neighbor owns the surrounding 300 acres. We have been approached by this company and they have conducted drilling research on my neighbors property. They have yet to make any kind of offer for my property. They are sending out an appraiser to appraise the homes. Now my home was built in the 1960s I believe and it belonged to my great grandfather. It is old and we live way out in the country so I know it will not appraise for what it will take to buy a new house. My neighbor has the appraiser coming tomorrow and said that the appraiser will be taking pictures inside and out. The plans they have drawn up show that they will just be knocking down both our houses and mine will be a parking lot. Why do they need to take pictures on the inside. I cannot accept appraisal value for my home and have told them that I want replacement value. Has anyone dealt with a situation like this and what do I have to look forward to?

 

[TheGeekess]

You can negotiate all you want. There's a family who held out long time before they sold their property for the Alabaster WalMart.

You could also see what the county is appraising it for tax-wise. For some strange reason, acreage in BlountCo was worth $2K when I purchased back in '05. Now, the tax assessor says it's worth $10K/acre.

 

[Banned_Princess]

appraisers take pictures inside the home, for the appraisal. to support the claim your home is worth XXX,ooo.




that is normal.

 

[NC Aggie]

So they are claiming eminent domain? As far as taking pictures of the inside, that is to be expected to determine an accurate value of your home. Unfortunately, if they are claiming eminent domain, they are only required by law to compensate you for reasonable and fair market value...typically from my experience this is a little more than market value. What would you consider replacement value? Are we talking 100% of property's value or more like 150% of property's value?

 

[LdiJ]

So they are claiming eminent domain? As far as taking pictures of the inside, that is to be expected to determine an accurate value of your home. Unfortunately, if they are claiming eminent domain, they are only required by law to compensate you for reasonable and fair market value...typically from my experience this is a little more than market value. What would you consider replacement value? Are we talking 100% of property's value or more like 150% of property's value?

And of course, if they are not claiming eminent domain, then you are not required to put your property on the market or cooperate with any appraisal.

 

[astriegel]

they arent claiming eminant domain. The process is just beginning. They are just trying to see if we will sell and I guess now they are appraising to see how much to offer. Im just afraid I will go from living in a fully paid for house to living in a repossed trailer in a trailer park because I know my house isnt worth alot but it is big. 3500 square feet. I hope they will pay replacement value.

 

[NC Aggie]

they arent claiming eminant domain. The process is just beginning. They are just trying to see if we will sell and I guess now they are appraising to see how much to offer. Im just afraid I will go from living in a fully paid for house to living in a repossed trailer in a trailer park because I know my house isnt worth alot but it is big. 3500 square feet. I hope they will pay replacement value.

Well if they aren't claimin eminent domain, then you have a lot more negotiable power. If you don't like the offer they make or don't believe they would offer you what you desire, you have the right to simply decline their offer.

 

[LillianX]

And of course, if they are not claiming eminent domain, then you are not required to put your property on the market or cooperate with any appraisal.

And if they ARE claiming it, make sure they prove it with court records. They can't just walk up to your house, holler EMINENT DOMAIN, LET ME IN! and look around.