How To Evade Liability Lawsuits As A Real Estate Appraiser

By: R Chandler Smith
As an appraiser in the real estate industry, the risk of legal actions is a very real one. Mortgage companies relentlessly pressure you for higher values, lenders are searching for simpletons, and infamous \"investors\" are searching for a sucker to help them carry out fraud. There are very little methods on how to deal with this threat.

1.) Prevention. Don’t do something that can turn you into a liable target.
2.) Movement. Transfer the burden to something else like a client or somebody else.
3.) . The justice system is your friend; employ it to your advantage. Have an insurance company like Errors and Omissions Insurance from a reputable company that will defend you with local attorneys.
4.) Acceptance. Don’t Deny the fact that the threat is true and have yourself insured with some insurance company.
5.) Pay no attention it. Act as if it never occurred and pray it never will.
6.) Disappear. Alter your career to one that is less adversarial.
Here are a few common reasons why a real estate appraiser gets involved in a lawsuit and court cases.

1.) Failing to discover and report enhancement and site flaws. When you want to request for a copy of the purchase agreement, it would be best if you can get the Seller’s Disclosure form signed. Add a note to the appraisal that shows that the appraiser has reviewed the Seller’s Disclosure Statement. Ensure that you obtain a copy of the Seller’s Disclosure Statement. When it is time to examine the house, keep in mind to check with the retailer if there are issues regarding molds. The appraiser could even present the seller with the appraiser’s own form for the seller to evaluate, answer, and sign.

2.) Incorrect computation of total living area. While performing an assignment, the appraiser should never rely upon what is in the MLS system for living area, the previous appraiser’s sketch, an old survey, and the county records mentioning the living area or the architect’s set of plans. If the appraiser receives a set of details for proposed construction, those details should be verified with sketching program to verify the living area size. It will be too late if you’ll wait for the information gathered after the final examination. If the subject has an addition to the living area, such as an enclosed porch or carport/garage, this should at all times be separated in the sketch and in the report – even if the area still has the same contributory value. Any modifications to the living area even if the calculated area is still the same should be noted separately in the report and on a separate sketch.

3.) Did not report roof leakage, foundation cracks, basements that are wet, infestation of termites and mechanical failure.

4.) Reaching a decision in which the property is overvalued or undervalued. You’re likely to cheat if you do not have the needed skill and E&O won’t protect you if found guilty. Appraisers who are inexperienced with their responsibilities and duites are prone to be convicted with fraud.

5.) You’re appraising the wrong estate.

6.) You didn’t verify, that’s it. Includes items throughout the 1004 form of the Federal National Mortgage Association such as utility hookups, zoning, lot dimensions, County assessments/taxes, correct owner of record, history of the subject (both listing and sales), etc… Confirmation should be the primary job during an appraisal.

7.) Libel. A review appraiser can get sued if he or she defames the appraiser rather than the report.

As an appraiser, you can prevent any litigation if you are aware of the dangers regarding your appraisal and avoid them as much as possible.

Article Source:http://www.articleboy.com


This article was written by William D. Cobb with the assistance of Chandler Smith. William operates Accurate Valuations Group and has been licensed as a residential appraiser for 15 years now primarily in the Greater Baton Rouge, LA market area. For more information on William D. Cobb and Accurate Valuations Group, visit Baton Rouge, LA Appraisals. Chandler Smith is a top real estate expert in the Houston and Austin area. He oversees Houston Appraisals

Selecting A Mesothelioma Lawyer

By: Soapy
Asbestos has been proven to cause a number of health conditions, including a disease called mesothelioma. While companies that make products using asbestos have known about the negative health effects of their products for as long as 60 years, many of those who worked in their factories were in the dark.

Mesothelioma lawsuits mean big payouts, with lawyers receiving almost half of the final settlement. Suits settled out of court can bring an average of $1 million, and those that go to court often pay an average of $6 million. With that much money at stake, lawyers are jumping at the bit to handle mesothelioma lawsuits. If you’re considering filing a mesothelioma lawsuit, it’s important to find a lawyer with your best interest at heart and with the skills required to find you the best settlement possible.

What should you look for when shopping for a lawyer to handle your mesothelioma case? Here are some things to ask when considering someone for the job.

1. Has the lawyer ever handled a mesothelioma lawsuit before?
2. If so, what was the outcome? How much was the settlement?
3. Does their law firm specialize in mesothelioma cases?
4. Will that particular lawyer be handling your case, or will it be handed off to someone else?
5. If so, whom, and do they have experience with mesothelioma law suits?
6. What percentage of the final settlement will the lawyer receive?

While interviewing prospective lawyers, you want to get a feel for their communication style and how well you feel you’ll get along. Make sure to ask about any fees or expenses that will need to be paid up-front. Generally, lawyers wait until the settlement is in place and simply take their cut.

Investigate several lawyers before making your final decision. Again, your mesothelioma is a serious condition, and you want to make sure you get the settlement you deserve. If you have a bad feeling about a lawyer or don’t feel he or she has the experience necessary to make the most out of your mesothelioma lawsuit, move on to the next candidate. Find out about their reputation; don’t just take their word for it. See what their former and current clients have to say about their satisfaction with that particular lawyer.

You can also find out about their track record through your local Bar Association. Don’t leave your mesothelioma lawsuit in just anybody’s hands. Find the best lawyer possible—someone with experience and a stellar track record—to make sure you get the best representation available.

Article Source:http://www.articleboy.com


AsbestosNews.com is an online resource for information about mesothelioma cancer and asbestos exposure. Asbestos News has been providing the public with information online since 2001.

Bad Credit? Lawsuit Funding May Help

By: Alec
Many lawsuit plaintiffs have financial troubles while they wait for a settlement–trouble that could lower their credit rating. Credit reports are compiled by companies called credit bureaus that receive reports directly from lenders about their customers’ payment practices. Based on a debtor’s history of paying bills and the amount of debt the person carries, credit bureaus come up with a credit score for each person. Every time a person applies for credit–including applying to rent an apartment–if the applicant receives credit and what the applicant pays for credit is largely determined by his or her credit score. Every lawsuit plaintiff needs to know about credit scores, because any lowering of his or her credit score will affect his ability to get a car loan or a credit card, or rent an apartment, once his lawsuit is resolved and he is ready to resume his old lifestyle. Fortunately, lawsuit funding can help many plaintiffs maintain a good credit rating and, therefore, face a brighter financial future once their cases are settled.

Lawsuit funding can help a plaintiff pay critical bills and loan payments while he or she waits the months–or even years–it can take for a lawsuit to be resolved. Lawsuit funding can provide cash so lawsuit plaintiffs can at least make the minimum payment on credit card accounts. Once the plaintiff receives his or her settlement, he can use that lump sum to completely pay off his debts or substantially pay down his debt.

By helping a plaintiff avoid late fees, disruption of his or her credit, and–worst of all–default, foreclosure, bankruptcy or repossession, lawsuit funding can help a lawsuit plaintiff come through a lawsuit with a respectable credit rating. Once a person’s credit is damaged, it can take years for that person to restore his or her credit. A debtor who has declared bankruptcy is often unable to get any financing at all for years. Foreclosure and repossession are also serious negatives on a credit report. Using lawsuit loans to stay current on bills and debts can produce benefits for that plaintiff for years. Bad credit can cause years of misery.

Litigation funding transactions do not appear on a credit report, so a lawsuit advance does affect a person’s debt-to-income ratio. Too much debt on a credit report lowers a credit score. A LawMax lawsuit funding advance is a lien against the plaintiff’s lawsuit, not a lean against the plaintiff’s personal assets or income stream, and that is why a lawsuit funding transaction does not appear on a credit report so it cannot have any effect on the recipient’s credit score. Additionally, since lawsuit funding advances are not personal loans, if a plaintiff needs a financial statement to apply for a mortgage or other type of financing, the lawsuit funding advance does not have to be included as a liability because a LawMax advance is a lien against the lawsuit, not the plaintiff.

By keeping a good credit record, it is easier for plaintiffs to recover financially after a lawsuit. Good credit is literally something that money cannot buy. It can take months or years to recover from a period of bad credit, so plaintiffs should do everything they reasonably can in order to maintain the best possible credit. In the days, months, and years after a lawsuit is concluded, plaintiffs may need financing for a new car or a new home. Good credit is a key ingredient in getting back to a normal lifestyle once a lawsuit plaintiff has received his or her settlement.

Article Source:http://www.articleboy.com


Alec is a well known author and has been writing content for Lawsuit Advancesas a Loan service to fight your legal case for so many years. His content is worth reading as it gives you an insight about different aspects of availing this service. For more information visit \"www.fundmycase.com\"