property
Real Estate Appraiser
<p>I purchased a new condo June 2017; There was something about the property that wasn't disclosed to buyers. It was on the survey map? but the appraiser admitted to me he didn't catch it and advised me to immediately sell the property. I have the conversation documented and a pending complaint with the state board. I think they are trying to find a way to rule in his favor and not mine and that is why it has taken almost six months for their decision. However, I would never have purchased the condo if I had known about the issue. I put most of the money down and I have a white elephant; the condo's are unsellable unless I take a massive financial hit. I have developed a health condition related to the worry, anxiety, and depression because of the situation. Can I send the appraiser a certified letter making a claim or do I need an attorney? How do I establish my loss? Is it the full amount and he can have he keys to the condo?</p>

<blockquote>
  <p>There was something about the property that wasn't disclosed to buyers. It was on the survey map?</p>
</blockquote>

<p>Then it was disclosed - the fact that you (or your appraiser) didn't read it doesn't mean it wasn't disclosed.</p>

<blockquote>
  <p>I think they are trying to find a way to rule in his favor and not mine and that is why it has taken almost six months for their decision. </p>
</blockquote>

<p>I would not read anything into how long this process has taken - it doesn't indicate bias one way or the other. Bureaucratic wheels turn slowly.</p>

<blockquote>
  <p>Can I send the appraiser a certified letter making a claim or do I need an attorney?</p>
</blockquote>

<p>You can certainly lodge a claim against the appraiser. If you understand the law and how to quantify the damages by all means do it yourself. If you don't (and would like to succeed in the claim) you would be wise to engage a lawyer.</p>

<blockquote>
  <p>How do I establish my loss?</p>
</blockquote>

<p>By applying the relevant law and the contract you have with the appraiser to the particular facts. If you know ... (see above).</p>

<blockquote>
  <p>Is it the full amount and he can have he keys to the condo?</p>
</blockquote>

<p>You can settle your dispute on any terms that are mutually acceptable or, if you can't agree it will be determined by a court according to law. Your suggestion is <em>a</em> resolution - it is not <em>the only</em> resolution. It is also a resolution the appraiser would be unlikely to accept and is unlikely to be one that a court would determine. At law, you are entitled to your damages - the amount of your loss. </p>

<p>You would need to establish that knowledge of the defect actually means that the property is worth less than you paid. This would be difficult as the vendor knew that the defect was there and therefore their asking price must in some way reflect the existence of the defect. Unless you paid significantly above the asking price it follows that the price you paid is the fair market value <em>with</em> the defect. The fact that you personally would not have purchased the property if you had known of the defect does not mean you paid too much for it.</p>
