limitation of liability - Appraisers Blogs https://appraisersblogs.com/tag/limitation-of-liability/ Appraisal News and Tips for Real Estate Appraisers Fri, 10 Dec 2021 06:17:54 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://i0.wp.com/appraisersblogs.com/wp-content/uploads/2015/04/ABfavicon.png?fit=32%2C32&ssl=1 limitation of liability - Appraisers Blogs https://appraisersblogs.com/tag/limitation-of-liability/ 32 32 52046035 Is this the END of USPAP? https://appraisersblogs.com/non-uspap-states-limiting-appraiser-liability https://appraisersblogs.com/non-uspap-states-limiting-appraiser-liability#comments Fri, 08 Apr 2016 12:30:56 +0000 http://appraisersblogs.com/?p=11662 Non-USPAP States – Is this the END of USPAP? I recently got an email from an appraiser I have high regards for. He asked me a simple question that got me thinking. It was: “Why don’t a group of appraisers get together and form an AMC?” I found that an interesting concept. It has been done. Coester was an appraiser and now he is just an AMC. Allen Hummel, an Appraisal Institute icon, has an AMC. Why not? We know it better than anyone. But the devil is in the details. Appraiser’s liability for mistakes or omissions in this appraisal...

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]]> https://appraisersblogs.com/non-uspap-states-limiting-appraiser-liability/feed/ 6 11662 Protect Yourself with a Limitation of Liability Clause https://appraisersblogs.com/appraisal/protect-yourself-with-a-limitation-of-liability-clause/ https://appraisersblogs.com/appraisal/protect-yourself-with-a-limitation-of-liability-clause/#comments Fri, 22 May 2015 12:30:06 +0000 http://appraisersblogs.com/?p=7764 Set Your Limits and Protect Yourself with a Limitation of Liability Clause In a recent case on the West Coast, a certified general appraiser was sued for professional negligence by a commercial lender. The lender had made a high-interest, short-term loan to an  investor/developer for the purchase of a large parcel of land that the borrower planned to subdivide and sell as mini-ranches. The property was appraised for approximately $5 million in 2007, and the lender had loaned $3.2 million. Within months after closing, the borrower’s project began sputtering because of the financial crisis, and by early 2009, the borrower was in default. The property sold at...

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