Legal Question in Real Estate Law in Illinois
State buying our home and business to build hwy.
We own property the State wants to buy us out.That would be fine because we want to retire in Co.On our 6th yr here people started coming around from the state taking pictures asking questions taking dirt samples and putting up stakes in the yard.A gentleman came to the house and explained how the whole process worked.A meeting was called,we were informed that the hwy.was going to begin on the other side and head our way instead of the original plan.That would mean we would be the 3rd to the last house bought out which would be in 2009.We haven't done anything to our home as far as remodeling cause we thought 4yrs.It can't stay like this another 4 years.We built the shop to work for once in our life owning a business of our own.Our plans are at a dead end.We want to ask them to buy us out early but are afraid they will just rob us blind knowing how bad we want to go.We don't know how to handle this and still get the money we deserve.Please help us.
2 Answers from Attorneys
Re: State buying our home and business to build hwy.
Get an appraisal, then you'll have a fair idea of what the property is worth.
Re: State buying our home and business to build hwy.
In my opinion, there are TWO things that you should do on an immediate basis. The first is to get the property appraised by a CERTIFIED APPRAISER, not a Realtor. Second, hire a lawyer. It is obvious to me that this can get much more complicated than you might appreciate. If you don't have your own lawyer, you should contact your county bar association to obtain a name or two. They are there to help in situations such as this!
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