Insider secrets to winning eminent domain attorney compensation
Strategies for Maximizing Compensation
1. **Accurate Property Valuation**: One of the first steps in securing fair compensation is obtaining an accurate valuation of your property. This involves hiring independent appraisers who can provide a detailed assessment, often revealing a higher value than government appraisals. According to industry standards, a thorough appraisal considers factors like location, property improvements, and potential future uses1.
2. **Negotiation Tactics**: Skilled attorneys use various negotiation tactics to advocate for higher compensation. This includes presenting evidence of comparable sales, highlighting unique property features, and demonstrating the impact of the acquisition on your livelihood. Effective negotiation can lead to settlements that are significantly higher than initial offers.
3. **Legal Challenges**: In some cases, challenging the eminent domain action itself can be a viable strategy. If the public use justification is weak or if procedural errors occurred, an attorney might argue against the taking altogether. While this approach is complex, it can sometimes result in either halting the process or securing a better settlement2.
Financial Considerations and Cost Implications
Hiring an eminent domain attorney involves costs, but many work on a contingency fee basis, meaning their payment depends on the compensation you receive. This arrangement can be beneficial, as it aligns the attorney’s interests with yours. On average, attorneys may charge between 25% to 33% of the additional compensation they secure, making it a worthwhile investment for many property owners3.