Appraisal malpractice occurs when an appraiser misrepresents information related to the nature or condition of real estate that a client is interested in purchasing.  This representation may be intentional (appraisal fraud) or due to an accidental mistake (appraisal negligence).  Common misrepresentations seen in appraisal malpractice cases include:

• Misrepresentations of size or square footage of a property
• Omission of important information (e.g. whether the property is on a flood plain)
• Failure to disclose that a change in value is contingent on some future event, such as obtaining important paperwork or completing a construction project
• Misrepresentations of neighborhood delineations
• Inappropriate depiction of the condition of the property
• Accepting bribes or fees from loan applicants

Appraisal malpractice can occur with any type of property, including homes, businesses, open land, and commercial property.

 
If you have questions or would like more information about appraisal malpractice, contact Zeitlin & Zeitlin here.