Kent-Macpherson has extensive experience in the valuation and negotiation of right of way assets. The primary purpose of a right-of-way valuation is to provide recommendations to assist either private clients or public agencies in the negotiation of a fair market compensation for a proposed right-of-way. Public agencies are commonly involved in partial taking where lands is acquired for the construction or expansion of roads and highways, parks, public utilities, or public buildings. The process is similar to an expropriation; however, it usually involves negotiations with mutual agreement as the definitive resolution.
Important considerations in estimating the value of a proposed right-of-way area include: the direct impact on land within the right-of-way, and any impact on lands adjacent to the area in the right-of-way retained by the owner. Examining both historic and current market data, along with any changing laws and statutes contributes to an efficient valuation and negotiation process. Right-of-way acquisition is a fundamental element of the overall planning and implementation of highway and transportation projects.
During negotiations we can act as liaison between landowners and public agencies as the formal legal process will not be initiated unless negotiation fails. The costs of acquiring lands by other means (expropriation) are usually significantly higher than those for property acquired by negotiation; therefore negotiation is the preferable course of action.
Given the complexities of an acquisition of this nature, it is advisable to seek advice from a qualified professional who will complete a well researched impact analysis to assist either party, in providing an opinion of fair market compensation for a proposed right-of-way. Kent-Macpherson has been involved in all levels of service in right-of-way valuation and negotiation support.
“Kent-Macpherson has been our family and businesses real estate valuation professionals for over 20 years. Whether at Tallus Ridge, or our many past and current real estate ventures, Kent-Macpherson consistently provides quality and reliable real estate advice we respect and trust.”