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what will be the bases for a fair market value of my property?

1 Answers. Asked on Jan 16th, 2017 on Commercial Real Estate - New York
More details to this question:
commercial lot with a 3 unit rental unit in the town of Cicero NY. in 2011 The town is putting in a park .Town offered $ 155,000 . with $500.00 down. I accepted. 3 months later town said they had to wait on the State DOT to purchase (eminent domain) and I could keep the $ 500.00. 2012 the building burned down. I was discouraged by the town to rebuild as "property acquisition" was going to happen soon. It did not. The town now says it will happen 3rd quarter 2017. property addres is 5459 Bennett st cicero ny. Can I hope for the original $155,000? It cost me $30,000 to tear it down.
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Answered on Jan 16th, 2017 at 1:28 PM

It depends where you are in the process, and what the acquisition documents state.  These deals are not usually done deals until closing.

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