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About This Blog
Welcome to the Snell & Wilmer real estate litigation blog. Check back here often for useful news and information about current topics involving real estate litigation. We hope that you will find the blog both timely and helpful, and we invite you to join the discussion by posting comments about the articles and contacting the authors with your thoughts about the posts.
Real Estate Litigation Group Members and Blog Contributors
- Bob Henry
- Kevin Parker
- Matt Fischer
- Adam Lang
- Cory Braddock
- Benjamin Reeves
- Erica Stutman
- Patrick Paul
- Rick Erickson
- Ginny Olmstead
- Neal McConomy
- Michael E. Lindsay
- Bob L. Olson
- Nathan G. Kanute
- Sean M. Sherlock
- Lyndsey Torp
- Anthony Carucci
- Luke Mecklenburg
- Jon Frank
- Kevin Walton
- Lauren Munsell
- Lauren Podgorski
- Addy Colton
- John Sarager
- Jenna Le
- Ian Douglas
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Recent Posts
- Short-Term Rental Legislation & Litigation On the Way!
- Foreclosure Deficiency: Construction Loan vs. Home Improvement Loan
- Know your Obligations: Colorado’s Statutory Expansions of the Implied Warranty of Habitability Are Now in Effect
- CCP 998 Does Not Confer an Independent Right to Attorneys’ Fees
- Is a Bankruptcy Plan that Violates Federal Criminal Law Proposed in Bad Faith?
Topics
- Anti-deficiency Statute
- Bankruptcy
- Commercial Real Estate Industry
- Construction and Development
- Environmental
- Evictions
- Foreclosures
- Guaranty Contracts
- Judgment Liens
- Medical Marijuana
- Real Estate and Bankruptcy
- Real Estate Appraiser Litigation
- Real Estate Broker Litigation
- Real Estate Purchase/Sale Transaction Litigation
- Real Estate Receivers
- Statutes Affecting Real Estate
- Title Insurance
- Uncategorized
- Zoning
Sellers Cannot Look to the Appraiser When Lenders Pull the Plug on a Prospective House Flip
By: Eric Spencer
An outgrowth of Arizona’s housing downturn in recent years has been the proliferation of would-be real estate investors who purchase, renovate and flip residential properties. On the other hand, in part to prevent the next downturn from occurring, lenders have tightened borrowing requirements and balked at financing any purchase of a “flipped” home that exceeds the appraised value. Often caught in the middle of these competing interests are the appraisers themselves: when a lender-commissioned appraisal comes back substantially below the proposed purchase price, the prospective buyer often has no choice but to walk away. And, when the real transaction falls apart accordingly, the real estate investor-turned-seller might seek to hold the appraiser liable for what it deems to be a negligently-conducted valuation of the property. … Read More »
Author:
Eric Spencer
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Tagged appraisal, appraiser liability, Restatement of Torts §552, Southwest Non-Profit Housing Corp. v. Nowak
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Does an Appraiser Owe a Duty of Care to Non-Client Third Parties? It Depends.
By: Andy Stone
Under what circumstances do appraisers owe a duty of care to third parties sufficient to give rise to liability for negligent misrepresentation claims was examined (again) by the Arizona Court of Appeals in late 2012. See Belen Loan Investors, LLC v. Bradley, 296 P.3d 984, 650 Ariz. Adv. Rep. 8 (App. 2012). This question has been examined multiple times by the Arizona Court of Appeals over the past few years. See id.; see also Sage v. Blagg Appraisal Co., 221 Ariz. 33, 209 P.3d 169 (App. 2009); Kuehn v. Stanley, 208 Ariz. 124, 91 P.3d 346 (App.… Read More »
Author:
Andy Stone
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Tagged appraiser liability, appraisers, Belen Loan Investors, negligent misrepresentation, Section 552 of the Restatement (Second) of Torts
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