Facing a lawsuit is a scenario that most appraisers would rather not think about, but it is a reality of the valuation profession. Risk Management for Real Estate Appraisers and Appraisal Firms provides practitioners with realistic, effective suggestions for managing the risks associated with valuation assignments. Presenting information based on published court opinions and actual professional liability insurance claims, the book examines why appraisers get sued, the elements of the most common claims, and the appraiser's best tools for reducing liability risk. Unique issues relating to specific areas of appraisal work are covered-including residential and commercial lending, appraisal review, expert witness, and arbitration services. Strategies for mitigating risks relating to the operation of appraisal firms are also discussed. Risk Management for Real Estate Appraisers and Appraisal Firms will help appraisers assess their liability and take steps to lessen their risk and protect their appraisal practices.
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