Court of Appeals Allows Borrower’s Suit Against Appraiser
In Sage v. Blagg Appraisal Co., the Arizona Court of Appeals reversed the trial court’s decision dismissing the buyer/borrower’s lawsuit against the appraiser. In its decision issued April 30, 2009, the Court, for the first time in a reported decision, allowed the buyer/borrower to sue the appraiser, even though the appraiser was hired by the lender. The Court’s decision opens the door for buyers/borrowers to sue appraisers, even if they did not hire the appraiser or even pay for the appraisal.
