COURT OF APPEALS ALLOWS BORROWER’S SUIT AGAINST APPRAISER

By Kent Berk on April 30th, 2009 in BLOG, REAL ESTATE LAW

In Sage v. Blagg Appraisal Co., the Arizona Court of Appeals reversed the trial court’s decision dismissing the buyer/borrower’s lawsuit against the appraiser. In its decision issued April 30, 2009, the Court, for the first time in a reported decision, allowed the buyer/borrower to sue the appraiser, even though the appraiser was hired by the lender. The Court’s decision opens the door for buyers/borrowers to sue appraisers, even if they did not hire the appraiser or even pay for the appraisal.