Valuer's duty explained

Article Abstract:

A case heard in the UK Court of Appeal, in 1999, referred to the valuation of a commercial building for redevelopment. The building was purchased by a developer, for 3.6 million pounds sterling, after the valuer had suggested a yield of 7.5% could be achieved. The purchase failed to achieve the promised yields when the market declined. The judge pointed out the valuer should have warned the developer of the risk the yields would not be reached in the current market. The Court of Appeal did not agree with the trial judge and find the valuer at fault over differences in determining the rental value.

Real estate agents and managers, Real Estate Appraisers, Offices of Real Estate Appraisers, Valuation, United Kingdom. Court of Appeal

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A costly enterprise

Article Abstract:

A case heard in the British courts found a valuer partly responsible for inaccurate information in a prospectus for investors. The valuer was sued under the Civil Liability (Contribution) Act 1978.

Liability (Law), Legal liability

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According to evidence

Article Abstract:

The role of an expert witness in a case of negligence by a real estate valuer, heard in the UK appeal courts, is analysed.

Negligence, Evidence, Expert, Expert evidence

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