The Surest Way for Commercial Appraisers to Be Sued for Negligence

Commercial appraisers are more likely than residential appraisers to be in the position of considering whether to sue a client for unpaid appraisal fees because their fees for a single engagement are higher, sometimes $10,000 or more. Residential appraisers, however, occasionally also face the decision when unpaid fees have accumulated with a single client. When it's only a single unpaid residential fee, most residential appraisers seem to let it go but never accept another assignment from that party.

The question of whether to sue a client for unpaid fees should be evaluated carefully. Suing a client for unpaid fees often results in . . .


[A complete and updated version of this article is available to LIA insureds and READI members at readimember.org.  READI is the Real Estate Advisors Defense Institute, created by LIA to protect appraisers, advocate on their behalf and provide straightforward information about the legal issues that affect them.  You can read more about READI at readimember.org.]