Appraisers' Liability is a continuation of what was published in the first edition, in 1991, and updated in supplements. This Work addressed the areas of exposure and related issues involving appraisals and appraisers. Clearly appraisals are important in many areas involving public and private property. In turn, if there are "problems" with the appraisal, be it from a mistake, negligence, misunderstanding, misrepresentation, fraud, breach of contract, or otherwise, the interests of many parties may be impacted. These interests may include buyers, sellers, lenders, investors, IRS, banking organizations, government bodies and private entities. It, therefore, seemed important to examine cases and other authorities that have addressed issues involving appraisals, appraisers, and others, who have interests in valuation issues. This material, of course, would not accomplish a reasonable purpose by simply collecting materials in which disputes in connection with appraisals arose. Rather, the authors have attempted to glean suggestions and develop approaches to help avoid mistakes, pitfalls, and litigation because of issues connected with problems as to valuation.

The authors are hopeful that the readers of this Work will share their insights as to steps that might be taken to lessen exposure for appraisers.