How do I dispute the amount of compensation offered to me?
If you have received an offer for compensation by the acquiring authority that you believe is understated, you have the right to dispute the amount.
Before you initiate legal proceedings it is advisable that you exhaust the negotiation phase. A satisfactory negotiated settlement will mean that you are not taking a risk that you will take legal action and lose. You will also have the funds to purchase a new property and you will not need to go to the time and expense of a complex litigation. However if the result of the negotiation is unsatisfactory to you, you have the option of taking the matter to Court.
In order to do this you will firstly need to find a solicitor who is experienced in these type of matters. Once you have engaged a solicitor they will be responsible for representing your interests and preparing the matter for the Court date.
Your solicitor will typically engage a valuation firm to value property and businesses that are affected by the compulsory acquisition (such as Rushmore). In many cases, an expert valuer representing the acquiring authority will also conduct valuations on the relevant property.
The compulsory acquisition process can be complex. If you have any questions in relation to a property subject to compulsory acquisition then we would be happy to assist you. All initial consultations are on a complimentary basis. In addition to this, we recommend that you seek legal advice from the outset to ensure your interests are protected.
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