Posted on: 29th Sep, 2010 07:27 pm
Can you sue an appraiser for not completing an appraisal when they said they would? We had an appraiser make promise after promise via email and consistantly fail to provide the appraisal. At one point she said it would be sent to us "directly" and that was two days ago and we still haven't received it. It is basically going to end an entire addition to our home because the bank needed the appraisal before they could release the land we were building on.
Have you hired the appraiser in this case? That would be weird, since lenders can't allow that. If the appraisal has been delivered to the lender in the timeframe promised, that's appropriate handling of the situation, and the lender should then provide you with a copy.
Sue the appraiser? Anyone can sue anyone else for any reason at any time, so sure you can. Will you be successful? Who knows?
Sue the appraiser? Anyone can sue anyone else for any reason at any time, so sure you can. Will you be successful? Who knows?
The bank required the appraisal to be in the lien holders name - not the banks, I'm not sure why unless it is because it really doesn't have anything to do getting a loan just making sure the value of the property doesn't go down to the partial release.
So the bank is not the lienholder...not sure why, but that's okay. It is entirely appropriate for that to take place. No lender is going to allow you to arrange for an appraisal, bring it to his office and have him rely on it to grant you a loan.
The bank ought to be proactive in obtaining this report - have they dropped the ball?
The bank ought to be proactive in obtaining this report - have they dropped the ball?