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Damages

Finally, if the claimant has established that the appraiser owed a duty, the appraiser breached the duty (fell below the standard of care) and that the violation caused the claimant an injury, the claimant must establish and quantify damages. Not every error by an appraiser will result in damages. Damages will generally equal the difference between the original erroneous valuation and the true/correct valuation as of the same date. Just like with proving the standard of care and breach, a claimant will generally need to hire another appraiser as an expert witness to perform a retrospective appraisal to establish the true/correct value of the property.

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