Appraisers and Toxic Mold: Legal and Valuation Issues

Bob Aalberts and Richard Hoyt

Journal of Real Estate Portfolio Management, 2000, vol. 6, issue 2, 203-215

Abstract: New construction techniques designed to improve insulation have created conditions ripe for the proliferation of toxic mold. These developments have spawned numerous and costly lawsuits. Appraisers could be sued for negligent appraisals if they do not follow professional standards of care. Since mold has only recently become a serious issue, appraisers and other real estate professionals must devise policies and procedures to handle this potentially explosive problem. For appraisers, the amount of required expertise is dictated by the Uniform Standards of Professional Appraisal Practice, specifically in the Competency and Ethical Rules. Appraiser guidance is also contained in The Appraisal Foundation’s Advisory Opinion 9 (AO-9) and the Appraisal Institute Guide Notes 6 and 8.

Date: 2000
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DOI: 10.1080/10835547.2000.12089605

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