Dear /adv/, hear me out. I've never posted here, so I might make some mistakes. Desperate for some advice.
Twenty years ago, my family bought a piece of rural property with stunning water views on a gentle slope, with the prospects of retiring there or handing it over to me. They originally bought it for very little money ($20k Cad), as the lot did not have city water nor the possibility for a well to be dug (20% incline with sandy earth). A few months ago, we received a letter of expropriation from the county, letting us know that they were doing road expansions and that they needed to purchase most of our land (2/3 of our 1/3 of an acre). Needless to say, we were devastated. The only way to go forward, they said, was for them to purchase the entire lot, and they gave us a quote of what they would pay us: 70k.
Last year, the assessed value of our property was 85k. Three years ago, the city finally decided to bring water to our row of lots as well, so we paid about 17k for that as well. We never intended to sell the property. My family waited for so long for the land to be usable, and we were planning to build on the property in the coming two years. The money that they're giving us is nothing. To find a comparable lot, with the same kind of view, in the same area, would cost us about 150-170k. Ironically, lot values are spiking up exponentially in our area due to the roadwork being done, as before, the road was very treacherous. Some lot owners that were selling land behind ours (a little further up the hill) were getting so many offers, they decided to take the properties off the market to sell a little later on for probably double what they were asking now. Not only that, but those lots did not have a view. Now, with the roadwork, they're clearing the trees (ones on our land), giving them the view. It's crazy that they're giving us what they're giving us, considering the circumstances.
Last april, a piece of land identical to ours (with a higher incline, so harder to build on) sold for 150k. Another lot above us sold for 95k. Both these lots were comparable to ours, yet our assessment value did not go up since these were "private sales”. We’re basically being forced out of our land, our investment, and will be given absolutely nothing for it. The neighborhood we are in will develop crazily in the next two years. Already, there are at least half a dozen constructions, and people driving around daily looking for land to buy. My parents will have nowhere to retire. The only land in our area we can buy for that money is flat, treed land, with no view and no water. And even that is being pulled off the market to sell at a much higher price in a year or so.
The only reason the land was bought was for the view. It's incredible. The fact that it's on a tall hill/small mountain right on the water's edge gives it the impression that you're just floating above the water. Some may call it a million-dollar view.
I'm at a complete and total loss at what to do. What the county's doing is unacceptable, but there doesn't seem to be any other option for us. Has anyone here had a similar experience? Is there anything I can do? Please help, they're taking away our home, and they're giving us nothing in return.
Sorry for the long read and poor writing, I had to come up with this quickly. I have noone else I can get advice from.
>>17098396
>>17098402
To clarify, this is in Canada.
Ask a lawyer, but can't the Queen and Her duly authorized representatives just take whatever they want from Her subjects?
You should ask a lawyer who is well versed in this particular area of Canadian law instead of the fifteen year olds of 4chan.
>>17098425
As long as it's for the public (roads, parcs, etc), I'm pretty sure we have no choice. I'm basically trying to get as much money out of the land, so we could be able to buy something comparable. Property rights in Canada are pretty bad, and it seems like plenty of people are pissed off about it:
https://environment.probeinternational.org/2013/11/25/unfair-unsound-and-unnecessary-a-survey-of-expropriation-in-canada-in-2013/
http://www.troymedia.com/2011/11/29/property-rights-effectively-stripped-away-in-canada/
The county representative basically said that if we don't sign the bill of "sale", they'll kick us out and make us pay legal fees. They also don't seem to want to re compensate for the inconvenience. They guy said it himself that they go and buy land for as little as possible, so as to save them money. I think something fishy is going on considering our property value dropped so much when sales are going crazy all around.
>They originally bought it for very little money ($20k Cad)
>they gave us a quote of what they would pay us: 70k.
>they're giving us nothing in return.
how is 50k more than you paid nothing?
>Ironically, lot values are spiking up exponentially in our area due to the roadwork being done
sounds like the government is building a much needed road.
>>17098426
I'll probably end up seeing one, but money is really tight as is. I was hoping to see if someone here had a similar experience and had any advice.
>>17098452
It took 20 years for the land value to increase to what it is today. Not only that, but we had to pay for the water. There are similar lots selling all around for 150-170k. Considering that, I would say that 70k is nothing. We're not looking to make a profit out of this situation. We just want enough money to relocate to something comparable.
you're acting like you deserve the value of your land with the road in front of it but not on it, but that's not an option. either the road is built and you sell your land for that or the road is not build and your land is worth 70k. you can't have your cake and eat it too
>>17098463
Forgot to mention: The road was already built. They're just widening it (paved shoulders and wider lanes). They need to cut so much from out lots because of the steep slope, and the possibility of a landslide. They are cutting costs by not putting in a retaining wall, and instead buying properties for super cheap and building an engineered slope.
>>17098456
>but money is really tight as is.
>they gave us a quote of what they would pay us: 70k.
>we were planning to build on the property in the coming two years.
uh huh.
>>17098396
Ah, man. I feel for you, OP. The Harper regime did the same to my uncle and aunt, for the widening of a highway. My uncle held out as long as possible, but in the end, he was pretty well forced to sell a chunk of his property, given the pressure put on at the Federal level, and by his neighbours who had already sold theirs. I can try to get ahold of him to see what channels he went through, but still... he sold in the end. What province/territory are you in?
>>17098464
Identical lots (2) sold for 150-170k last year. That was before anybody even knew about this roadwork. The assesed value was also 85k last year.
>>17098469
so your super valuable land is about to fall onto the road anyway, taking your parents retirement home with it? sounds like the government is doing you an enormous favor.
>>17098471
We invested about 50k in a 10% yearly fund about 3 years ago. The money is locked for 5 years. The rest we were planning to take a loan on. The house was supposed to be small (1000 sqft), and to be built over the course of a few years.
>>17098476
there is no such thing as an identical lot.
>>17098474
BC. Sorry to hear that man.
>>17098480
The land was by no means at risk of falling into the road in it's current state. If they were to cut, say, 4m for the widening, that's a different story. Gouv is basically cheaping out at building a retaining wall by buying properties for 1/2 their value, and creating an engineered slope out of that.
>The fact that it's on a tall hill/small mountain right on the water's edge gives it the impression that you're just floating above the water.
that's literally impossible.
>>17098486
When I say identical, I mean very similar. Both had the same view, were within 100 square feet size of each other, and had a similar slope.
>>17098476
Your only option is to negotiate the best deal possible. This is more liekly to occur if the negotiation is done by a lawyer.
I think a fair offer would be the $70K + the cost of the water connection ($17K) making it $87K.
From your description the development cost of the land would be quite high when it came time to build, which should be deducted frrom any perceived enhanced or comparative value. Just because other properties are selling higher doesn't automatically mean yours will.
As a starting point for negotiation I'd look at the assessed value of $85K + the water connection of $17K ($103K) but be willing to settle for the $87K I mentioned above.
>>17098501
Pic related is from a partially build house a couple lots from us. Exact same view. That house is going to get demolished because of the roadwork. Seems pretty possible to me.
Lawyer up. Contact your legislator.
Or try to sell it to a sucker first.
>>17098517
Thanks for the advice.
Shouldn't the assessed value be affected by sales around the property though? The cost of developpement would be a little higher than normal, but considering that, those lots sold for what they sold. The 85k assessment was of last year. This year's was 70k. How could the value drop when there are sales that should affect the land value positively that happened this year?
Bamp. Any more advice?
