Boy, the Chinese really know how to screw their own citizens.

[cleller]

http://news.yahoo.com/lone-chinese-h...143801532.html

This guy spends $95k building a new 5 story house, then the government decides to build a road thru it, offering him 1/3 of what he spent. He refuses, they build the road completely around him, then up their off to less than half of its value. Somehow decides its best to give in.

[yermom]

meh, it's not like it's only China that does that

[bluedogok]

Happens in the US all the time.

[Midtowner]

Happens in the US all the time.

We at least have procedures to ensure you'll get fair market value for your home.

[bluedogok]

We at least have procedures to ensure you'll get fair market value for your home.

In some case the "market value" is manipulated to badly screw the property owner and in some cases the owner is so delusional about the value of his property that is is necessary. Just saying that every case is not so clear cut as to an accurate value.

[Midtowner]

In some case the "market value" is manipulated to badly screw the property owner and in some cases the owner is so delusional about the value of his property that is is necessary. Just saying that every case is not so clear cut as to an accurate value.

In Oklahoma, three commissioners (appraisers) are appointed by the Court and as soon as they make an award, the property owner gets paid. If the landowner isn't happy with the value he gets, he can demand a jury trial. If the jury awards just 10% above the commissioner's award, the condemning authority even gets to pay for the landowner's attorney fees.