Dismissal of Real Estate Case

Jeff Downer and Nicholas L. Jenkins secured voluntary dismissal of a professional malpractice claim against a real estate appraiser. Our appraiser client valued a four-unit apartment complex. The appraiser used comparative sales, income and cost appraisal methods. The bank loaned funds to the buyer who later sought to refinance the property. When the bank declined, the buyer sued, arguing the appraiser overstated the building’s square footage and therefore its value. Jeff and Nick argued the square footage calculations had no significant role in calculating value, and any causal connection between and the appraisal and the bank’s later decision was too speculative to litigate. The buyer voluntarily dismissed his case after receiving discovery requests that underscored the speculative nature of his liability and damage theories.

Twitter Facebook LinkedIn RSS