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If an appraisal report is based on deliberately false information provided by the client, this can distort the result and, in the event of a dispute, lead to the appraisal report being unusable as well as legal consequences for the client.
Read moreThe general statutory warranty rules governing contracts for work also apply to condensed appraisal reports. The client must specifically demonstrate an actual professional defect; only then do remedies such as subsequent performance, price reduction, or damages come into consideration at all.
Read moreValuers are only liable for demonstrably culpable, gross professional errors in the appraisal report – the burden of proof lies with the client. As a publicly appointed and certified valuer, we maintain professional liability insurance for this purpose.
Read moreClaims for damages due to an actually demonstrable, defective appraisal report generally become time-barred under the general three-year limitation period of the German Civil Code (Bürgerliches Gesetzbuch), beginning at the end of the year in which the claim arose and the injured party became aware of it.
Read moreWe hold sufficiently endowed professional indemnity insurance, which covers financial losses caused by professional errors in the appraisal report. As a publicly appointed valuer, this insurance is in any case mandatory for us.
Read moreThe Federal Court of Justice (BGH) clarifies when a court-appointed market value appraiser is liable for their appraisal report – and why the standard applied is not that of a building defects expert, but that of a proper valuer
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