Real Estate/Development
Dec. 27, 2011
Appraisers targeted in bid to recoup real estate losses
In the wake of the housing market crash and the rash of mortgage loan defaults that ensued, lenders and borrowers looking to mitigate painful economic losses are targeting appraisers on a scale never seen before.
Daily Journal Staff Writer
They research public records information, check zoning and flood data and evaluate sales and listings of comparable homes before walking a property to determine its value.
Although appraisers' work is critical in the real estate industry, it's rarely been controversial. In good economic times, lawsuits against appraisers were infrequent and mostly limited to small, individual claims.
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