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Real Estate Advisors Defense Institute

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Quick Tips

Every week in this section, you'll find new quick tips from LIA and READI about how to reduce your risk and potential liability. These are just the tips – no introduction, history or analysis. Articles containing more complex suggestions or analysis are contained in the Preventing Liability section.

". . . We strongly advise appraisers to keep their E&O information off of publicly accessible . . ." [More]
Statements and information contained in the limiting conditions identified in your appraisal report can effectively limit your risk and reduce your potential liability. However, some types of limiting conditions (such as limitations of your liability or provisions requiring the appraiser to be indemnified) will not be effective if a court views them as terms or conditions to which your client did not agree. To make them more effective, we suggest that appraisers consider including one of the provisions suggested below in the engagement agreement with the client: [More]
We suggest that appraisers keep their appraisal workfiles, either in paper or electronically, for [More]