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Tag Archives: Appraiser

Tort/Negligence – Professional Liability – Real Property – Appraiser – Indirect Reliance – Attorneys – Revenue Stamps Amount – Developer — Breach of Contract – Fraud (access required)

Anderson v. Coastal Communities at Ocean Ridge Plantation, Inc. Where the plaintiff-buyers alleged, at most, that they relied on the bank’s acceptance of an appraisal report in making their decisions to buy property from the defendant-developers, such indirect reliance is insufficient to state a professional negligence claim against the defendant-appraisers.

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Real Property – Mortgages – Duty to Borrowers – Appraiser (access required)

Anderson v. Coastal Communities at Ocean Ridge Plantation, Inc. The plaintiff-borrowers claim the defendant-bank breached its duty to them by failing to disclose that the developer controlled the loan process, including the selection of an appraiser; however, the bank did not owe the borrowers a duty to disclose any details of the loan process not required to be disclosed under state or federal law or under the terms of the loan agreements. The bank's motion to dismiss is granted.

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