Risk Management for Real Estate Appraisers and Appraisal Firms
Published by the Appraisal Institute (2019), 230 pages.
The book gives practical guidance about liability risk associated with appraisal work and the operation of appraisal firms. It’s not an academic treatise or a guide for lawyers defending (or bringing) claims against appraisers. Rather, it provides realistic, effective suggestions about how to manage risk.
Despite the title, the book is more interesting than you might think! The first lawsuit in the book concerns an appraisal of a property called The Resort at Squaw Creek — adjacent to the Squaw Valley ski area. During negotiations to restructure the resort’s debt, someone left a copy of the 400-page appraisal report performed for the lender in a vacant room at the hotel. A housekeeper found it and a copy made its way to the hotel management company and its president (a well-known hotelier). They were upset when they read that the appraiser described their management as “incompetent” and opined that the resort would be worth $18 million more if properly managed. What happens when the company and its president sue the appraiser for negligence and defamation? . . . in chapter 2 of the book.
Do you want to know more about what’s in the book? You can read the table of contents and introduction here:
How can you get a copy of the book? Two ways:
- If you’re in one of my live or online seminars, you can buy a hard copy of the book here for $50 (free shipping and tax included). U.S. and Canada orders only. Use this button to purchase the book:
Risk Management Book ($50 - free shipping)$50.00 - You can buy a copy or PDF version in the Appraisal Institute’s online bookstore.
