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Its called Eminent Domain (I think thats how its spelled) hehe.. And it happens all the time and will happen again and again especially since Charlotte is growing. And I wouldn't start blaming the developers.... It is a threat of every neighborhood in Charlotte. The developer has no way of knowing if it will happen or not. And if you stopped construction on everything that is a possibly going to be condemned, then we would all be homeless.
The homeowners who will lose their home will recieve FULL market value. There is nothing you can do- its the LAW.
And those of you not in the realestate business must understand that ALL neigborhoods have this threat. You just don't know or hear about it until it happens....
Its called Eminent Domain (I think thats how its spelled) hehe.. And it happens all the time and will happen again and again especially since Charlotte is growing. And I wouldn't start blaming the developers.... It is a threat of every neighborhood in Charlotte. The developer has no way of knowing if it will happen or not. And if you stopped construction on everything that is a possibly going to be condemned, then we would all be homeless.
The homeowners who will lose their home will recieve FULL market value. There is nothing you can do- its the LAW.
And those of you not in the realestate business must understand that ALL neigborhoods have this threat. You just don't know or hear about it until it happens....
I think most of us understand what Eminent Domain is, but i think what a lot of people are upset about is the fact that thier is a chance that a major roadway could come through this neighborhood. The developers knew that before hand yet still developed it. This is exactly why Real Estate Agents and Develops have a bad image.
I dont care what you say, a home owner is not going to get a full market value......they dont have the option of getting multiple offers like most people do.
Its called Eminent Domain (I think thats how its spelled) hehe.. And it happens all the time and will happen again and again especially since Charlotte is growing. And I wouldn't start blaming the developers.... It is a threat of every neighborhood in Charlotte. The developer has no way of knowing if it will happen or not. And if you stopped construction on everything that is a possibly going to be condemned, then we would all be homeless.
The homeowners who will lose their home will recieve FULL market value. There is nothing you can do- its the LAW.
And those of you not in the realestate business must understand that ALL neigborhoods have this threat. You just don't know or hear about it until it happens....
Actually, it is "fair" market value, based upon history the value usually isn't very fair and the homeowner has no choice. People in the affected communities will most likely lose considerable $, very sad and definitely not fair!!
Additionally, it is spelled Eminent domain, however, Eminent domain is simply the governments right to seize a citizens private property for government use, and, the government is not required to pay anything for the property, although they usually do. The government actually exercising their right of eminent domain is called condemnation.
Be sure that what you post is factual and concrete, there are a lot of people that depend on us (Real Estate Professionals) to give solid, definitive advice on this forum
I think most of us understand what Eminent Domain is, but i think what a lot of people are upset about is the fact that thier is a chance that a major roadway could come through this neighborhood. The developers knew that before hand yet still developed it. This is exactly why Real Estate Agents and Develops have a bad image.
I dont care what you say, a home owner is not going to get a full market value......they dont have the option of getting multiple offers like most people do.
You are absolutely correct, and yes, the developer should have had some insight as to this being a potential problem, especially with the Bonterra Village community which is relatively new, read my post, before this, I agree with you and feel that people should watch what they say of they are not astute to the actual problems
Its called Eminent Domain (I think thats how its spelled) hehe.. And it happens all the time and will happen again and again especially since Charlotte is growing. And I wouldn't start blaming the developers.... It is a threat of every neighborhood in Charlotte. The developer has no way of knowing if it will happen or not. And if you stopped construction on everything that is a possibly going to be condemned, then we would all be homeless.
The homeowners who will lose their home will recieve FULL market value. There is nothing you can do- its the LAW.
And those of you not in the realestate business must understand that ALL neigborhoods have this threat. You just don't know or hear about it until it happens....
Moderator cut: flaming
Jeez, please don't come on here and think everyone fell off the turnip truck. OF COURSE home builders know about these things before hand. And you statement about full market value (IN CAPS no less) is total BS.
You should be ashamed of yourself coming on here and spouting those lies.
Last edited by SunnyKayak; 08-24-2007 at 02:26 PM..
My bad for writting Full not Fair... and yes, I should have read my reply before posting. huge difference... my fault.
I was just trying to point out Eminnt Domain... thats all..
And no, I am not ashamed of myself nor am I spouting lies.
Last edited by SunnyKayak; 08-24-2007 at 02:27 PM..
Reason: comment in reference has been deleted
My bad for writting Full not Fair... and yes, I should have read my reply before posting. huge difference... my fault.
I was just trying to point out Eminnt Domain... thats all..
And no, I am not ashamed of myself nor am I spouting lies.
i'm not going to judge you...but from your post, it sounds like you wouldnt care what you sold someone as long as you get paid for it.
Last edited by SunnyKayak; 08-24-2007 at 02:28 PM..
I live in Bonterra. I would not buy a house in Bonterra and it is not because of the bypass. Several of my neighbors are fed up with the HOA. Many people especially those associated with community watch and HOA are cut throat and vindictive. They are very biased and unfair to the working class people. I lived in Lake Park 8 years and never had a problem with the HOA. I have been in Bonterra 2 years and have received about 10 violations.( none have been substaniated) The time and money that goes into sending these violations are ridiculous. Our dues keep going up. Money could be better spent on safety issues. I would love to sell my house. I would not get fair market value and I can assure you it is not only because of the bypass. This community has issues.
Last edited by gina gardner; 01-09-2008 at 11:29 AM..
Reason: spelling
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