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What Does It Mean When a House Is Condemned?
If you are interested in buying or selling a house, you will come across a wide variety of homes. Some homes might be labeled as condemned, and it is important for you to understand what this means. That way, you can make an educated decision about what to do with the property, regardless of whether you are buying or selling it. What does it mean if a home is condemned, and what should you do next?
An Overview of Condemned Properties
If a house has been labeled as condemned, it has been legally acquired either by the local government or by private entities. The exact course that property condemnation takes depends on local ordinances and the state of the property itself. For example, a local government may mark a residential or commercial property as condemned, either permanently or temporarily, because it is no longer considered safe to live in.
On the other hand, it is possible for a structure to be condemned if it falls under the doctrine of eminent domain. Under this condition, owners have the legal right to challenge the terms of the condemnation and, regardless of the challenge, are entitled to receive the fair market value of the property, as dictated by local market conditions and a negotiation with the government.
A Deeper Dive Into Condemned Properties
When someone talks about a property as being condemned, they are referring to the legal process of acquiring a piece of property. This is something that can be executed either by private entities or by the local government.
There are plenty of situations where a condemned property has acquired this label temporarily. The conditions of the property need to be assessed, the owners are responsible for improving the property, and if they do not do so, they could lose ownership of the property itself.
If the owner is stripped of his or her property, it is repossessed by a third party or the government. Then, because the property is generally not in favorable condition, it will be knocked down and rebuilt. Typically, local authorities give an order to condemn a structure if it is deemed unsafe for people to occupy. It can also be condemned if it poses an imminent threat to other properties in the area. Many properties that have been condemned have fallen into a state of disrepair because they have been abandoned.
Different Types of Condemnation
There are different types of condemned properties. The most common type of condemnation takes place when a property is either dilapidated or unsafe. There are local, state, and federal housing codes that need to be followed. If the building has been found to violate any of these standards, then the government may mark it as condemned. Sometimes, natural disasters can cause an abrupt condemnation of the building. Common examples include chemical spills, earthquakes, and fires. Typically, a comprehensive inspection has to take place before a property can be labeled as dilapidated.
The other common type of condemnation refers to eminent domain. State and federal governments can exercise the right of eminent domain, allowing them to transfer the title of the property to either the government or a third party. The seizure has to be carried out for a public purpose, and the authorities have to hire someone to appraise that property properly. Then, if they execute a seizure, they are required to provide the homeowner with something called a pro tanto award. The owner can still file a lawsuit to challenge the condemnation in court, and they are entitled to compensation commensurate with the value of the property.
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No matter what state your property is in, it would be our pleasure to buy it from you. We are We Buy Dallas Houses, and we buy houses in the local area. Even if you feel like your house is in a state of disrepair, we will still give you a cash offer for your house. That way, you can avoid expensive closing costs and move out of your home as quickly as possible. Contact us today to learn more about the cash offer we can give you for your home!
