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Appraisal Malpractice Litigation

The section on the Needs of the Courts summarized research findings of others* that:

  1. few appraisers considered the published literature important in solving the brownfield valuation problem.  This neglect should be considered malpractice.

  2. guidelines from professional societies offer little beyond admonitions to perform competently, acquire technical assistance and expertise from others where necessary, and report fully what they did.  These societies seem to only be vehicles to maintain 'the public trust.'  If so, they should be held liable for neglect of this public trust.

  3. expert witnesses in courtrooms are unfit to present themselves as "experts" and

  4. have been influenced to produce valuations to suit their client's particular needs

  5. appraisal regulators have been found to be very poor at regulating

  6. judges sometimes arbitrarily agree with one valuer

  7. the entire process is arbitrary, lacks any empirical basis, and is fundamentally flawed.

* These findings have also been confirmed by the thesis of Weber (2005)