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Georgia court finds appraiser has no professional duty to developer
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A Georgia appellate court on June 12 affirmed a trial court’s decision in a dispute over whether an appraiser and his firm, engaged by a bank to perform an appraisal of property purchased by a developer’s limited liability company (LLC) for purposes of the bank’s development loan to the LLC, owed a professional duty to the developer.
The developer had accused the appraiser and firm of negligent misrepresentation arising from the appraisal, but evidence presented at trial showed the appraiser only dealt with the bank, and that he never met the developer or gave him the appraisal report. Specific provisions of the appraiser’s report also specified that the report was only intended for use by the bank.
The court case is Adams, et al., v. DeWitt, et al., (Court of Appeals of Georgia, No. A14A0584).
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