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Article: Appraisal standards and professional negligence claims.
- Article from:
- Appraisal Journal
- Article date:
- September 22, 2004
- Author:
CopyrightCOPYRIGHT 2004 The Appraisal Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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abstract
Successful negligence claims typically result from a failure to employ appropriate valuation methods, follow recognized appraisal procedures, or disclose hypothetical conditions. Advancements in appraisal education and improved appraisal practices, coupled with mandatory continuing educational requirements, have raised consumer expectations regarding the level of competency of appraisers. In assessing claims of negligence, the courts are increasingly taking into consideration the prevailing standards of the appraisal profession. This article examines a number of negligence cases in the context of the professional appraisal standards of the Appraisal ...