Updating Offer of Just Compensation
Have an appraisal updated or obtain a new appraisal if any of the following conditions occur:
- Information provided by the property owner indicates a need for a new or updated appraisal, such as the owner locating an overlooked improvement.
- A material change in the property’s condition indicates a need for a new or updated appraisal.
- Significant time passes since the last appraisal.
- Real estate market conditions change significantly.
If the updated appraisal report or new appraisal received prior to the filing of the condemnation petition indicates a need to change the just compensation purchase offer, then submit the appraisal and a revised written offer to the property owner. The revised written offer
must
rescind the original offer.For updated appraisals acquired after the filing of the condemnation petition, a revised offer is not required. However, send a copy of the appraisal to the property owner along with a
.