My house is on the market, if the City offers to buy it am I obligated to sell it to them?
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My house is on the market, if the City offers to buy it am I obligated to sell it to them?
I just put my house on the market. It is at an intersection where the City may want
to put a round about in in the next 5 years. If they make me an offer am I
obligated to sell it to them? I am concerned that they will offer me less than my
asking price.
Asked on September 22, 2016 under Real Estate Law, Washington
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
No, you are never obligated to sell to anyone, including the city, for less than--or for that matter, even for equal to or greater than--asking price; you decide which offers, if any to take.
Yes, a city could try to take property by "eminent domain," but to do so, they have to bring and win a legal action against you, proving they need the land for some legitimate reason, and they have to take it for market rate. Until and unless they bring such an eminent domain action and prove their case in court, it is voluntary on your part whether to take their offer or not.
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