"FSBO" or "buying foreclosures"
"Chicago, IL" or "Florida"
Views: 847
Eminent Domain
It is the power of a government (federal or state sanctioned body) to take private property for public use such as building highways, bridges, parks, schools, reservoirs, and other public property, provided that just compensation is made. The Fifth Amendment of the U.S. Constitution states "...nor shall private property be taken for public use, without just compensation."
Under eminent domain, the government buys your property, paying you what's determined to be fair market value.
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