Diminution in Value
When there is a decrease in value, BTI typically appraises the property or business before and after the loss. The relative difference in value is the diminution to the property or business.
Properties or businesses can have a loss in value due to events such as:
Loss of a Property’s View or Privacy
Eminent Domain (taking part of a property and rendering the remainder less valuable or useable)
Construction of an Improvement (makes an adjoining property less desirable)
Loss of Customers to a Business
Increase in Expenses to a Business or Property