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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” […]

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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).  […]

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Former Associate