Just passed my real estate exam two days ago! So happy, your video were a good source of information and if I did not understand something from the books, your videos always clear things up to me. Thank you!
@@tatianaca1646 Well, I'm happy you were able to find the channel! Thanks again for watching and don't forget to keep us updated with your progress as an agent. We're rooting for you! Also, if you want us to do a video on a topic, let us know! We love viewer suggested content!
Wow! Thanks for the kind words, Keira. Glad these videos are helping you out. If there's anything else you want me to cover, just let me know. Thanks again for watching.
I feel like the "Fair Market Value" should also include how much profit there is to gain by using your property. For instance, if your land is seized because it's near a city and a factory is to be built there to give needed products to the community, then the value of that location increases because of who stands to benefit from it, and how much they stand to benefit. Same for if your property is seized because it's found to have valuable resources (don't know it this has ever happened before), you should be compensated a certain proportion of the value of that resource. Other wise it makes no sense, as you're not given the true value of your property.
It’s definitely illegal to use eminent domain to take valuable resources in the U.S, unless the resources already belonged to someone else, for example if you sold the mineral rights to a company.
Thank you so much, Castro! I'm glad you liked them. Also, thanks for being a subscriber - much appreciated! Are you working towards a real estate license right now?
I have an urgent question: I have a government agency offering to buy a small sliver of my residential land (a house within city limits that borders a creek) so that they can maintain flood control. I am not opposed to this purchase, but what is the formula used to calculate fair market value when it is only part of the property? Do you use the entire square footage of the property? The square footage of the property minus the square footage of the house? They did not obtain an appraisal. How do I enforce "just compensation" when I don't know how it is calculated? THANKS !!!
Why does "fair market value " always seem be undervalued? If you make the "fair" value 5X or 10X that number you'll see how much the project is really "necessary" versus convenient.
Can the government take your home if you own the house, land, and pay the taxes? Why is it illegal to permanently live in a RV or boat? Is renting your best living option?
The government can only take privately owned land if they're able to prove that it will benefit the public community in some way. The most common example of eminent domain is with highway projects. In order to build highways through cities, land improvements must be demolished, and it could be argued that the highway provides benefit to the community by making it easy to travel out of the city by car. Keep in mind, if you own the land that the government eminent domained, then the government compensates you at fair market value. I'm not sure about the legalities of permanently living in a RV or a boat. That is something you need to speak with a law expert about. Finally, in my opinion, renting is not the best living option. Owning your own place is. That means condos, a house, a plot of land you live on. Hope this helps.
If they intend to obtain Eminent Domain over someone's property, they need to pay triple the value of the property because that property belongs to someone who has a right to keep it! They may have had that property in the family for ages! They need to give way more than fair market value! They're causing hardship on someone!!!
That doesn’t count when it comes to Ukraine or Gaza. Two very valuable pieces of property, waterfront, abundant minerals, oil ( Gaza gas fields) , an upcoming canal called the Israeli Ben Gourion canal and Gaza is right in its path. Instead of paying them off , they’re killing them.
✅ 🎓💯Make studying for the real estate exam EASY: bit.ly/46L59T9
Thanks for holding up the video to give me a chance to down vote this video
Just passed my real estate exam two days ago! So happy, your video were a good source of information and if I did not understand something from the books, your videos always clear things up to me. Thank you!
CONGRATS!! So happy for you! Also, I'm glad these videos were helpful! That's why we make them. Out of curiosity, were you enrolled in our program?
@@USRealtyTraining no I wasn’t just your you tube channel 😃
@@tatianaca1646 Well, I'm happy you were able to find the channel! Thanks again for watching and don't forget to keep us updated with your progress as an agent. We're rooting for you!
Also, if you want us to do a video on a topic, let us know! We love viewer suggested content!
Rico you have such a way of explaining things thank you for helping me study for my real estate exam. I learn more from you than the books
Wow! Thanks for the kind words, Keira. Glad these videos are helping you out. If there's anything else you want me to cover, just let me know. Thanks again for watching.
Thanks for breaking down this important term so clearly!
Glad it was helpful! Thanks for watching, Chase!
I feel like the "Fair Market Value" should also include how much profit there is to gain by using your property. For instance, if your land is seized because it's near a city and a factory is to be built there to give needed products to the community, then the value of that location increases because of who stands to benefit from it, and how much they stand to benefit. Same for if your property is seized because it's found to have valuable resources (don't know it this has ever happened before), you should be compensated a certain proportion of the value of that resource. Other wise it makes no sense, as you're not given the true value of your property.
It’s definitely illegal to use eminent domain to take valuable resources in the U.S, unless the resources already belonged to someone else, for example if you sold the mineral rights to a company.
@@rabidlorax1650 ah, okay. Thanks for the info.
Fresh faced Robert!
Fresh face for some fresh terminology!
Here to tell you, I LOVE your videos!
Thank you so much, Castro! I'm glad you liked them. Also, thanks for being a subscriber - much appreciated! Are you working towards a real estate license right now?
@@USRealtyTraining yes, three out of five courses down.
I have an urgent question: I have a government agency offering to buy a small sliver of my residential land (a house within city limits that borders a creek) so that they can maintain flood control. I am not opposed to this purchase, but what is the formula used to calculate fair market value when it is only part of the property? Do you use the entire square footage of the property? The square footage of the property minus the square footage of the house? They did not obtain an appraisal. How do I enforce "just compensation" when I don't know how it is calculated? THANKS !!!
Why does "fair market value " always seem be undervalued?
If you make the "fair" value 5X or 10X that number you'll see how much the project is really "necessary" versus convenient.
Great video!
Glad you enjoyed it! Thanks for watching, Erica.
can you please make a video explaining treasury notes, treasury bills, and treasury bonds
Interesting one! I'll pass this to the team to see if we can make it happen. Thanks!
If you're made a offer before an appraisal can it be lowered after appraisal
Yes! You can also walk away from the house if the appraisal is undervalued. That's what we call an appraisal contingency.
Can the government take your home if you own the house, land, and pay the taxes? Why is it illegal to permanently live in a RV or boat? Is renting your best living option?
The government can only take privately owned land if they're able to prove that it will benefit the public community in some way. The most common example of eminent domain is with highway projects. In order to build highways through cities, land improvements must be demolished, and it could be argued that the highway provides benefit to the community by making it easy to travel out of the city by car. Keep in mind, if you own the land that the government eminent domained, then the government compensates you at fair market value. I'm not sure about the legalities of permanently living in a RV or a boat. That is something you need to speak with a law expert about. Finally, in my opinion, renting is not the best living option. Owning your own place is. That means condos, a house, a plot of land you live on. Hope this helps.
If they intend to obtain Eminent Domain over someone's property, they need to pay triple the value of the property because that property belongs to someone who has a right to keep it! They may have had that property in the family for ages! They need to give way more than fair market value! They're causing hardship on someone!!!
That doesn’t count when it comes to Ukraine or Gaza. Two very valuable pieces of property, waterfront, abundant minerals, oil ( Gaza gas fields) , an upcoming canal called the Israeli Ben Gourion canal and Gaza is right in its path. Instead of paying them off , they’re killing them.
That's a sad situation.
person vehicle object all the same lmao