The law, like the property market, does not stand still. Against the backdrop of a market that is rising rapidly in places, Jonathan Brooks and Sandip Singh look at some of the key issues to come out of recent valuation negligence case law ‘As the availability and accuracy of data and resources improve and as …
Continue reading "Valuation Negligence: Boom, bust and back to basics"
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Wills & Trusts Law Reports | November 2014 #144The appellant was a property dealer and the respondent was a foreign exchange broker, who had a personal spread-betting account with IG Index. In August 2009, a third party informed the appellant of a deal offered by the respondent that involved a bet on the movement in the value of shares in Royal Bank of Scotland (RBS). The defendant claimed to know people who sat in on meetings between the heads of RBS and officials from the government, and it was expected the Chancellor would make a public statement which would have an effect on the share price of RBS. Following an initial telephone ...
Anna Mullins sets out the lessons for valuers from the recent case of Webb Resolutions Ltd v E.Surv Ltd If the valuer could not discharge their contractual or tortious obligations without adding words somewhere on the form, or producing a covering letter to address the particular issue, then they had to take such a course, …
Continue reading "Valuer: Permissible margins"
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Recent case law highlights the growing number of claims being brought by lenders against valuers in the downturn. Peter Levaggi investigates ‘Valuers face substantial difficulty in attempting to arrive at a market value in circumstances where very little market exists.’ The volatile property development sector has led to increased pressure on surveyors. The problem arises …
Continue reading "Negligent Valuation: Valuation issues"
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With recent news of significant numbers of borrowers breaching their secured loan covenants, should surveyors and valuers be bracing themselves for a further surge of professional negligence claims? Neil Jamieson and Tom White investigate ‘Where firms have had to make redundancies this may lead to fewer people monitoring compliance with risk management procedures.’Surveyors and their …
Continue reading "Surveyor And Valuer Claims: The tip of the iceberg?"
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