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Burris & MacOmber, PLLC > Articles > Property Law > Appraiser Liability to Commercial Lender

- Appraiser Liability to Commercial Lender -

In Belen Loan Investors, Inc. v. Bradley, the Court of Appeals in Tucson extended the duty of appraisers to those purchasing commercial properties.  Prior law had indicated that when a homeowner is entitled to receive an appraisal as part of his due diligence in investigating a home for purchase, the homeowner may have a cause of action against an appraiser who negligently performs an appraisal on which the purchaser relies in making his purchase.  Until now, appraisers had not been held potentially liable for appraisals of commercial property.  In this new case, the Court of Appeals overruled the dismissal of a claim by a lender who had loaned money toward the purchase of commercial property and had relied on an appraisal by Mr. Bradley, prepared for the purchaser.  The Court of Appeals sent the case back to the trial court to reinstate the case and allow it to go forward.

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