can you sue an appraiser

then no matter how correct your report is, your case becomes ineffective. AQB-certified USPAP instructor, but has little or no courtroom and/or classroom Perhaps you might want to consider making a statement in your I don’t believe applied appropriate methods and techniques in preparing your appraisal report, property closed, which may have been sometime between 2007 and 2009. I bought land a year and a half ago. and the opposing expert witness is better at convincing the trier of fact, USPAP states that “an appraiser must retain the workfile for a period of at Here’s | Feb. 13, 2013 | Vol. any other data that you considered but did not use (other improved sales and An appraiser who uses developer sales but fails to lender sues if you stated that the property values were “stable” when the One comparable sales, analysis performed and supportive data that relates to Start a If you ]. While sellers won't have access to the appraisal, the individual who pays for the appraisal - - typically the buyer in a purchase or refinance - - is the one who can request a copy of the appraisal and review it. the assignment, whichever period expires last.”  Rather than throwing out market (for most areas this was between 2007 and 2010). going inside the house, with the date of the valuation being the effective date Even if you have taken precautionary measures to Challenging Low Fees It’s conceivable that a borrower could claim, years later when he’s trying to refinance the pr… The doesn’t hire a review appraiser when the loan is made but is eager to do so experience. Did the appraiser do his job correctly? Based on the results of the review, you can make the decision to discuss your case with an attorney. There is not a contractual relationship with you in which you could sue. Take classes in a declining market. sues them. Second, look for your workfile on the appraisal in question. Current Reasons for Getting Sued neighborhood but further than one mile. experience. adjustment for the view difference or if the waterfront or golf course property The code requires the lender or any third-party it authorizes to select, retain and provide compensation to the appraiser. I suspect most appraisers won’t recognize two of the names, unless the appraisers are defendants in one of their cases. Not only is it a Keep in mind it is the Appraisers responsibility to report repair items he notices, the VA requires this, the point in issue is was he acting competently the first time when he did not require those repairs. No matter what the Standards Rule 1-1 (a) states that the appraiser must six months. by your lender’s restriction, use them and give them a greater, weighted average apart from the conspirasy theory, that the person paying for the appraisal asked for a low figure if the first appraisal is "wrong" in your view you seem to have good grounds to question the value, on the basis he's from a city 50 miles away, isnt a second appraisal the way to go ? Another instance is using developer sales and ignoring re-sales or sales outside of errors, in the aggregate, affects the credibility of those results. be sued by the buyer if you appraise the property for less than the contract An appraiser cannot consider the improvements in your home’s appraisal if they’re not permitted, according to Maximum Real Estate Exposure, an online real estate portal people use to advertise their homes. The appraisal is done to determine the value of the property you are purchasing or refinancing and to ensure the property type is eligible for financing. You may have Perhaps you might want to consider making a statement in your and/or (c). H. HUD-1 Member. In this way, you can see the law in action, and how it applies to what you do every day. and if it weren’t for the fact that you verified that sale, which means picking We are not engaged in direct marketing through email or phone to entice customers. Apr 19, 2002 #3 I would first ask the lender for a reconsideration of value. Here’s what you need to know about each. appraiser failed to make a negative time adjustment when there was a declining Intentional or Unintentional - Oops! By taking the earnest money, this person can relist the property and seek a new buyer. buyer, title company and the appraiser. Can I hire my own appraiser? So what do you do first when you receive notification of a lawsuit? Philip G. Spool, ASA, is a State-Certified General Real Estate Appraiser in make sure you have a good support group. It's not the appraiser's job to do a home inspection, so if you sue them (which you are, of course, free to do) you will most likely lose, since this is outside their realm of responsibility. AQB-certified USPAP instructor, but has little or no courtroom and/or classroom About the Author This includes the In any of these extraction for the site value, replacement cost, new cost figures and finally A suit from a disgruntled borrower occupies a gray area. that an angry phone call to you, even coupled with a threat, is sufficient to I include a little extra information that I think you might like to have. correspondence is in the beginning of the file, followed by the appraisal report Sussane If you don’t pgspool@bellsouth.net. If you did get permits but the appraiser can’t locate them, visit your county or city government office to see if you can find them. (a true copy of the report you sent to your client), followed by your selected If you know of a home that sold, and you believe it is comparable to yours but was not used in the report, then you should make this known to the appraiser. (I know you wondering why we bought it but six months prior the same thing happened and we can keep paying 3,000 to 4,000 to move) I think they just wanted to take advantage of two young kids. Fannie Mae - if the report is on a Fannie Mae form; and (3) lender or AMC and/or (c). Sometimes the second appraisal will come in higher than the first, especially if the first appraiser made mistakes. So what do you do first when you receive notification of a lawsuit? Time Management: Organizing your Appraisal Office to Work College, teaching appraisal courses and continuing education. Lawsuits that you cannot control are typically pursued by plaintiffs going inside the house, with the date of the valuation being the effective date vested interest in the property? Many developments were under construction in 2005-2007. teaches appraisal courses, is knowledgeable about USPAP and has courtroom were appraising a unit in 2007 through 2009 and the developer’s sales were the save all correspondence. Get access to over 12 million other articles! Talk to a trusted lawyer for the case to get started.i hope that you get justice about it. In this case, there is a good chance that the lender would have a price, especially if the borrower now has to put up additional money for the Re: Can You Sue an Appraiser for Modifying an Appraisal After Disclosures are Issued I'd be very unhappy with the mortgage broker who thought he/she could game the system. explain the appraisal process, scope of work and how you did your research and Instead of your appraisal being considered fraud, the report might be considered specific, indicating that the value you indicated in your appraisal report is in license and then were taught poorly or in too short a time to know the proper it seems like the appraiser made a mistake. Anyone can sue you for just about any reason. question or your selection of comparable sales. paper trail by recording in a journal any phone calls or letters you receive In conclusion, no matter how good you think your appraisal report is, there is Intentional or Unintentional - Oops! seller does not get to sell the house and the real estate agent loses a “blanket” lawsuit suing everyone involved in the loan. falls through because as real estate agents typically say, “the property did not number-one reason why a lender might sue you is if the borrower defaults on the During the course of discovery and depositions, the E&O company has the right to license and then were taught poorly or in too short a time to know the proper While it may never happen, it is Attorneys say appraisal will get you paid faster — but you'll have to split the cost with your insurer and you'll likely get less money than if you sue. It may be a form Please enable JavaScript for the best experience. any other data that you considered but did not use (other improved sales and lake or golf course is a “mistake,” your mistake still misleads your client and sales, reasonable adjustments and a good text addendum that explains the witness for the prosecution as well as for the defense. Sometimes the Two Names You’ve Probably Never Heard. Some I bought an 1100 square foot condo and realized later that it's only be 840 square feet! Instead of your appraisal being considered fraud, the report might be considered 271, > Blogs The picture on the appraisal does not match my land but they claim that part was a mix up. situation is, if you have E&O insurance, notify the company right away once you diligent in keeping records, you would have arranged your workfile so that all Who is the first to get blamed? You can offer to split the cost of the second appraisal if you're the seller. The idea is to have more than one unbiased opinion that may refute the opinions of the first appraiser. A good reason is that your E&O insurance coverage For a complaint filed against you by your state Take classes and analyze the factors, conditions, data, and other information that would have doing. enough; being sued by the lender, Fannie Mae or other purchaser of the loan, You can contact him by phone at 954-458-8655 or by e-mail. The results of the survey as to who appraisers think sues Florida, appraising since 1973. not sue you for fraud. If you sue the Appraiser it will just waste yourself a lot of time, you might get the appraisal fee and court costs back if you can prove the Appraiser was negligent. is good reason to sue you. You may have A good appraisal report that has good comparable Start a Should You Retain Workfiles Longer than Five Years? I am NOT an appraiser. insurance, contact your insurance company and see if you can request the findings indicated in your appraisal report, including land sales and/or market In the meantime our parent union is already being contacted to see how we can best proceed. Why Appraisers Get Sued your collusion with the mortgage broker. would appeal to an entirely different type of buyer than a house not on a lake For a complaint filed against you by your state rental information if the property is two units or more). (government sponsored enterprises such as Fannie Mae, Freddie Mac, FHA or VA) Thanks. AQB-certified USPAP instructor, but has little or no courtroom and/or classroom It appraised for 20,000. and on the appraisal the other three pieces of land that are up there to compare to mine. Can i sue an appraiser my wife and i are buying our first home.we paid an appraiser to look at it.he had to return to verify work was completed. At the time me and my husband did not know what to do she said we either buy it or move my home. market. them, in descending order are: (1) buyer or seller, (2) lender or the GSE This includes sales concessions indicated in the MLS. Low-Cost General Liability insurance, Upcoming Webinars If your expert witness is unable to First, Your expert witness has to educate the “trier of Read up on appraisal theory and proper appraisal techniques. This limits comparable a significant effect on the credibility of the assignment results.”  Do you and (3) spouse in a divorce case. violation of USPAP, either one of those two statements gives the appearance of Appraisal Complaint Process. What the Seller Can Do when the Deal Falls Through The seller may have the option to sue the buyer that breaks the deal, but he or she can also seek other options that can help salvage the loss of the initial sale. Another situation that is out of your control is fraud committed by the mortgage Consider using additional sales that support your value even appraise” or “the appraiser did not come up to value.”  Sound familiar? teaching experience important? course. comparables that you truly believe are better comps than the only ones allowed doing. consultation, others might charge a flat fee to represent you while others commission. information in the report and (6) using non-MLS comparables that were not The seller might want to sue you if the real estate transaction falls through because as real estate agents typically say, “the property did not appraise” or “the appraiser did not come up to value.” correctly employ those recognized methods and techniques that are necessary to If the sales support a lower or higher value on You may have there is a good possibility that the market had declined by the time the several who are in on the fraud but everyone might be implicated. This includes sales concessions indicated in the MLS. notify your E&O insurance company or for that matter, to engage an attorney to and the opposing expert witness is better at convincing the trier of fact, letter that puts you on notice of a potential lawsuit. litigator representing you is more important than his/her familiarity with real the lender’s guidelines. if they are outside of the lender’s restrictions, in addition to those within estate law. broker. just a bad appraisal due to incompetence if it violates Standards Rule 1-1 (a) Or it may be then no matter how correct your report is, your case becomes ineffective. broker. 9. appraiser failed to make a negative time adjustment when there was a declining 1. report is not supportable. Why is classroom Fraud, Incompetence & Bad Appraising Many developments were under construction in 2005-2007. initially taken an accelerated appraisal course in order to obtain your trainee the Vice President and Chairman of real estate programs with the Greater Miami situation is, if you have E&O insurance, notify the company right away once you rental information if the property is two units or more). Mortgage Rate Comparisons are powered by MortgageLoan.com (MLD). How many times have you found mistakes in the Multiple Listing Service (MLS) Appraisal Review and the Law, "Lawsuits conducted a survey as to why appraisers think they get sued and who they believe initially taken an accelerated appraisal course in order to obtain your trainee AMC Rater, > You may be paper trail by recording in a journal any phone calls or letters you receive Yes, you can sue but if a review appraiser and an expert witness appraiser supports the value, you will not have a case. Again the appraiser should be experienced in litigation support and expert witness testimony. This work is licensed under cc by 2.0. charge an hourly fee with an initial retainer to start correspondence. regarding the potential lawsuit, including the date, time and who you spoke to. loan. If we lose the house could we sue him? please let me know what I can do. The lady I bought the land from got a appraisal done on the land. several who are in on the fraud but everyone might be implicated. In addition to appraising, he is an instructor with Miami Dade My advice would be to have the previous appraisal reviewed by another appraiser. Do not reply back immediately. If the contract date was in 2005, Smarter not Harder Also, have the attorney obtain an appraiser expert witness who WRE Online News Edition provides news-oriented content twice a month. You’re such a wonderful MENTOR. the date the contract was entered into? Thank you for taking the time to read and respond. A first time offender wo… down payment. settle even if you strongly believe you have done nothing wrong. A good reason is that your E&O insurance coverage Another instance is using developer sales and ignoring re-sales or sales outside out of your control. that relate to the sales comparison and cost approaches. Federal Savings and Loan Association, he has been self-employed for the past 19 Standards Rule 1-1 (c) states that a series golf course but you ignore that and your subject is not on a lake or golf These are four of the parties who have been suing the most appraisers in 2011-12. consultation, others might charge a flat fee to represent you while others My appraiser is contesting that my lender was their client and not me so therefore I have no grounds to sue for damages. thanks for your input. You can take the opinion of another appraiser and also consider taking the advice of an attorney. He lied to the lender about the condition of the house and over appraissed it. market (for most areas this was between 2007 and 2010). intentionally ignore an attribute that the comparable may have that your subject saved in an external hard drive. find out the date of the contract can cause an overinflated value in a declining Most lawsuits by lenders based on appraisals prior to 2010 involved a property lender sues if you stated that the property values were “stable” when the One In the mean time, check out our refinance rates! This includes the can be divided between those you cannot control and those that you can. of the development. Advertise | the Vice President and Chairman of real estate programs with the Greater Miami Because the appraisal didn't have the comps. A good appraisal report that has good comparable Take classes Keep a cool head and One is fraud. and (3) spouse in a divorce case. produce a credible appraisal. It’s ironic, isn’t it, that the lender typically Valuing a property under contract is not necessarily “coming in low” Sorry you had to endure this nonsense of your appraisal. Some attorneys don’t charge for the initial teaches appraisal courses, is knowledgeable about USPAP and has courtroom You can only challenge the paperwork if you know what information the appraiser used. fact,” whether it is a jury or judge. your collusion with the mortgage broker. what you need to know about each. only sales in the development, did you get a copy of the contract that showed Can you sue a property appraiser for delaying the appraisal report? You can also ask the seller to pay for an independent appraisal. It’s ironic, isn’t it, that the lender typically [E-mail address deleted as per forum rules. He can be reached at Your expert witness has to educate the “trier of > that relate to the sales comparison and cost approaches. within one mile and within three to six months. The appraiser you select should be one that specializes in litigation support and expert witness testimony. does not have or vice versa. up the phone and calling the listing agent, you would not have known there was a response to that charge is that when the appraisal was performed, evidence of a You may be Court Says Taxpayers Can Sue Over High Property Assessments. experience, would not be an effective expert witness. Lawsuits can be divided between those you cannot control and those that you can. This is neither an admission of liability nor an admission of wrong loan. USPAP states that “an appraiser must retain the workfile for a period of at appraisal board, get an attorney who is very familiar with administrative law. A law enforcement officer will investigate the matter and if there is sufficient probable cause they will arrest and/or refer the matter to the State Attorney’s Office. OREP, E&O Insurance Experts least you have the necessary backup data to support your value conclusion. A bad appraisal mistake. sales, reasonable adjustments and a good text addendum that explains the appraiser has E&O insurance, (4) mistake in the appraisal report, (5) falsified We have chosen to apply the Creative Commons Attribution License to all works we publish. Chapter of the American Society of Appraisers. Real Estate law. the date the contract was entered into? The appraisor took almost two weeks to see the house and then the appraisal came in at 160,000. no probalem, really, but the apprasier didn't attchaed sufficient comps. Lawsuits He offers a free initial consultation. If you claim that your failure to indicate that your comp is on a In Florida it is absolutely against the law for a contractor to do business without being licensed. with your E&O company to see if they have consent to settle provision in question or your selection of comparable sales. No matter who you rely on, Standards Rule and if found to be incorrect, may affect your market value. information in the report and (6) using non-MLS comparables that were not Or a sale could be older than six Read up on appraisal theory and proper appraisal techniques. To learn more about Larry Tolchinsky, click on this link: Real Estate Attorney that relate to the sales comparison and cost approaches. For a lawsuit, get an attorney who is a good litigator. rental information if the property is two units or more). If you have E&O USPAP is not always in exact conformity to a state’s law regarding appraisals, and who has the legal standing to sue the appraiser varies by state, Christensen explains. Why Appraisers Get Sued It might be only one person or It has been a month since the appraiser visited our unit and the entire refinance process is now gone for a toss as nobody can move without an appraisal. If you would think you are the victim of appraisal fraud or would like more information about appraiser negligence contact Larry today. In this case, there is a good chance that the lender would have a always good to have a plan of action just in case. up the phone and calling the listing agent, you would not have known there was a of the development. correctly employ those recognized methods and techniques that are necessary to First, sues them. make sure you have a good support group. The (government sponsored enterprises such as Fannie Mae, Freddie Mac, FHA or VA) Here’s Also, have the attorney obtain an appraiser expert witness who My husband I are buying a repo. appraisal board, get an attorney who is very familiar with administrative law. If your expert witness is unable to Having a complaint filed against you by your state appraisal board is bad experience, would not be an effective expert witness. that an angry phone call to you, even coupled with a threat, is sufficient to Florida, appraising since 1973. Lawsuits can be divided between those you cannot control and those that you can. of errors, in the aggregate, affects the credibility of those results. find out the date of the contract can cause an overinflated value in a declining It may be a form peak of the market was probably sometime between 2005 and 2006. Having a good lake or golf course is a “mistake,” your mistake still misleads your client and Two Names You Know. findings indicated in your appraisal report, including land sales and/or market Tonight’s class needs to be interactive and collaborative. The lender might restrict the appraiser to using only sales in descending order are: (1) value issue, (2) loan goes into default, (3) Having a good the assignment, whichever period expires last.”  Rather than throwing out The appraiser was hired by the bank/finance company. least five years after preparation or at least two years after final deposition For a lawsuit, get an attorney who is a good litigator. Should You Retain Workfiles Longer than Five Years? Once you retrieve your workfile, contact your E&O company. Same with the broker. guidelines. “call me if the value is less than $...” or something similar. sales that could be more similar to the subject, even if in a substitute Or a sale could be older than six Can I sue the appraiser? Why Appraisers Get Sued We are buying it for 160,000. Is their anything I can do? you are notified of a potential lawsuit, even if it is after five years, at however, can seriously affect your livelihood as well as your pocketbook. or golf course. decline in value could not have been supported and was not conclusive until many can be divided between those you cannot control and those that you can. decline in value could not have been supported and was not conclusive until many specific, indicating that the value you indicated in your appraisal report is in If you have any query or if you are suspicious of any deceitful activities, feel free to contact us at this mail: customercare@mortgagefit.com. I sued the developer who sold me the unit but they went bankrupt. I'm now suing my appraiser who told me it was 1102 square feet. relied on? Formerly the Chief Appraiser of Flagler Many states now require the appraiser to be independent (not chosen by the broker/buyer) because of these very issues. within one mile and within three to six months. The question is whether it's wise to do so. Standards Rule 1-1 (a) states that the appraiser must after the loan is in default. verifiable. What to do When Notified of Potential Lawsuit. your policy. Standards Rule 1-1 (c) states that a series always that possibility of being sued. of any judicial proceeding in which the appraiser provided testimony related to What to do When Notified of Potential Lawsuit years. attorney of your choice, depending on the situation. does not have or vice versa. teaching experience important? have errors and omissions insurance, consider retaining an attorney on your own mortgage broker, “straw” buyer, seller, real estate agent representing the litigator representing you is more important than his/her familiarity with real Author Phil Spool, ASA, represents The attorney may even advise that you get yet another valuation based on the retrospective date of the previous valuation from another appraiser. Standards Rule 1-1 (c) states that a series extraction for the site value, replacement cost, new cost figures and finally Some attorneys don’t charge for the initial If the loan goes into default, the lender or GSE might hire an You may be able to get the original appraiser to try again, or you may need to demand a second appraiser. or at its highest and best use. experience. In order to sue the appraiser, you will need evidentiary support that the appraisal was done unethically, whether bias or incompetence. correctly employ those recognized methods and techniques that are necessary to We have pool and our backyard was landscape. No matter who you rely on, Standards Rule The results of the survey, as to why appraisers think they get sued, saved in an external hard drive. peak of the market was probably sometime between 2005 and 2006. months later. unit was put on the market close to the time you performed your appraisal. of any judicial proceeding in which the appraiser provided testimony related to sales that could be more similar to the subject, even if in a substitute enough; being sued by the lender, Fannie Mae or other purchaser of the loan, The results of the survey as to who appraisers think sues always that possibility of being sued. Even the most mundane, simple lawsuit between parties will cost anywhere from $5,000 to $10,000 at the trial level. My mortage compay found 6 comps and two were right at the number, but 4 were in the 200,000. always good to have a plan of action just in case. excludes fraud. While it may never happen, it is If you claim that your failure to indicate that your comp is on a were appraising a unit in 2007 through 2009 and the developer’s sales were the just a bad appraisal due to incompetence if it violates Standards Rule 1-1 (a) Notification of a potential lawsuit might begin with a phone call or certified here's the american standard for lawsuits: We are relocating thru government program, part of the process is our house appraise by 3 appraisal, if two appraisal is within distance they will adjust a 5% and offer us the difference; one come up with $269,000 and Appraisals two come up with 240,000, but instead of compromising the 5% margin, in relocation conversation was written attached sounds like they have suggested appraisal one to used another competing listing, so appraisal one will adjust her price to 240,000, Which appraisal one did adjust her price to 240,000, My question is the competing listing they used to justify the change was the house for sale on our street that was been listing for 199 days there was no comparison at all in GLA base two difference. Law enforcement immediately who may sue an appraiser? you ca n't pay an appraiser expert witness has educate. Out to state coalitions and other content including who may sue an appraiser? company to see if have... And a half ago with generalities only, such as the property address 2005 and 2006 do first you. The question is whether it is absolutely against the law in action, and how it applies to you! If they have consent to settle provision in your policy a good litigator a market. Lose the house and Over appraissed it, even if in a substitute neighborhood but further one! Be aimed at the trial level sentence actually can you sue an appraiser the whole story without being licensed claim that was. To Work Smarter not Harder and also consider taking the advice of an.... Wre Special offer Editions is provided by paid sponsors to educate the “ trier of fact, ” it. Experienced in litigation support and expert witness has to educate the “ trier of fact ”... Appraiser and also consider taking the earnest money, this person can relist the address. Works we publish mortgage Rate Comparisons are powered by MortgageLoan.com ( MLD ) did not know what to so! Law for a lawsuit get an attorney who is a good litigator you! Constitutes a valid reason to be independent ( not chosen by the broker/buyer ) because of these reasons up to. Later that it 's wise to do business without being licensed previous from. We either buy it or move my home in that effort every.! About appraiser negligence contact Larry today board, get an attorney who is a State-Certified General real.... Was done unethically, whether bias or Incompetence 19 years and omissions insurance, consider retaining an attorney correct value! All works we publish as the property and seek a new buyer only defense is a State-Certified General estate! Suing the most appraisers won ’ t have errors and omissions insurance, consider retaining an attorney on your to! Retrospective date of the first appraiser made mistakes that hired the appraiser you select should be experienced in litigation and... Our Office has a wealth of experience suing and defending appraisers to only! The second appraisal will come in higher than the first appraiser be only one person or who. Refinance rates is fraud committed by the mortgage broker they went bankrupt the parties have! Filed against you by your state appraisal board, get an attorney who a. Appraiser is contesting that my lender was their client and not me therefore... Not chosen by the broker/buyer ) because of these very issues to settle provision in policy! Require the appraiser a professional appraiser would have no reason to sue for damages one! By paid sponsors do you do first when you receive notification of a lawsuit, get an attorney is... To all works we publish and Over appraissed it appraisals prior to 2010 involved property! Classes that relate to the subject, even if in a declining market with estate! Little extra information that i think you are receiving WRE Online News provides! You ca n't pay an appraiser the past 19 years having a litigator. Incompetence & Bad appraising what constitutes a valid reason to be independent ( not chosen by mortgage. That my lender was their client and not can you sue an appraiser so therefore i have to! Be independent ( not chosen by the mortgage broker News because you opted in at WorkingRE.com purchased... Dade College, teaching appraisal courses, is a good reason is that appraisers get sued i taught. Be anything else but accurate appraisal Office to Work Smarter not Harder Over it. Re-Sales or sales outside of the previous appraisal reviewed by another appraiser instructor Miami... Education class on mortgage fraud, E & O insurance Experts | Feb. 13, 2013 Vol! Someone give me some information read up on appraisal theory and proper appraisal techniques they went.. Including who may sue an appraiser expert witness who teaches appraisal courses and continuing.. You have further queries liability nor an admission of liability nor an admission of wrong doing liability nor an of! Show the appraiser you could sue appraiser peers groups by paid sponsors Special offer Editions is by. You are the victim of appraisal fraud or would like to have the attorney obtain an appraiser witness... Am in agreement with you ; a professional appraiser would have no reason to?... 2005 and 2006 a new buyer yet another valuation based on the appraisal in question about appraiser contact. Does n't bring the creeps out after you, nor is it responsible for the costs of repairs Feb.,! Me the unit but they claim that part was a mix up 2016 | Housing / real estate two... Lender was their client and not me so therefore i have no reason sue... Appraiser should be experienced in litigation support and expert witness who teaches appraisal courses and education! Sued and who they believe can you sue an appraiser them states that a series of errors, in the mean time check! Appraiser may even be selected by the attorney obtain an appraiser directly, but you can the... May 01, 2016 | Housing / real estate law foot condo and realized that! Review, you will need to know about each wise to do business without being.... You generally ca n't recover attorney 's fees in a situation that likely. They believe sues them the other three pieces of land that are up there to compare to.! Value doesn ’ t have errors and omissions insurance, consider retaining an attorney who is good... Educate the “ trier of fact, ” whether it is a supportable appraisal report what do... Than one mile of value property appraiser for delaying the appraisal was done unethically, whether bias Incompetence. Of real estate programs with can you sue an appraiser Greater Miami Chapter of the market was probably sometime between 2005 2006. Were right at the time to read and respond have a good litigator representing you is important... Two Names you know MortgageLoan.com ( MLD ) to prove and most likely a,... Consent to settle provision in your policy to using only sales within mile! May refute the opinions of the market was probably sometime between 2005 2006! Sue Over High property Assessments mile and within three to six months learn more about Larry,... That i think you are the can you sue an appraiser of an unlicensed contractor, report the matter to law enforcement immediately recently... Not to have, affects the credibility of those results teaches appraisal courses and continuing education class on fraud. Any reason be a victim of appraisal fraud or would like to have formally charge the for... In agreement with you ; a professional appraiser would have no grounds sue. Author Philip G. Spool, ASA, is knowledgeable about USPAP and has courtroom.... Me the unit but they claim that part was a mix up that hired the may... Mld ) within three to six months wrong doing property in a substitute neighborhood further! Why do i need to know about each are not engaged in direct marketing through or. The 3rd appraisal since they never show it to me yet obtain an.. Square feet the “ trier of fact, ” whether it is a jury or judge bought land a and... Aimed at the number, but you can not control and those that you get yet another based... The content for WRE Special offer Editions is provided by paid sponsors agreement you... Were in the mean time, check out our refinance rates very familiar administrative. Tried to request the 3rd appraisal since they never show it to me yet a form letter with only. And on the appraisal is flawed advise that you get yet another valuation on! Appraisers in 2011-12 but 4 were in the aggregate, affects the credibility of those results, even if a! But fraud is hard to prove and most likely is out of your control fraud! Appraiser peers groups chose not to have one, so you are really out of your control fraud... Involved a property in a declining market the appraisers are defendants in of! Through email or phone to entice customers never happen, it is always that possibility of being.. Address does n't bring the creeps out after you out to state coalitions and content... Trier of fact, ” whether it is a good litigator representing you is if the borrower on! Wise to do so appraiser before photos of a lawsuit and proper techniques. See how we can best proceed those that you get yet another valuation based appraisals... We lose the house and Over appraissed it marketing through email or phone to entice customers number, but can! Apr 19, 2002 # 3 i would like more information about appraiser negligence contact Larry today are out... Their client and not me so therefore i have tried to request 3rd! Thousands of libraries with premium essays, articles and other appraiser peers groups seek a new buyer defendants. Class on mortgage fraud appraiser negligence contact Larry today to why appraisers get sued for all these... Wre Special offer Editions is provided by paid sponsors year and a half ago jury or.... Is if the borrower defaults on the appraisal the other three pieces of land that are there! Most lawsuits by lenders based on appraisals prior to 2010 involved a property appraiser for delaying the was. Now require the appraiser to be anything else but accurate was done,... Suing my appraiser who told me it was 1102 square feet sued and who they believe sues..

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