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Ask Christopher B, Esq. Your Own Question
Christopher B, Esq.
Christopher B, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 2643
Experience:  associate attorney
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I am a seller of a house, offered more then selling price,

Customer Question

I am a seller of a house, offered more then selling price, buyer is using a reverse mortgage to buy my house. The appraiser came and low balled my house value. The 5 comparables he used all sold for more dollars per sq ft then he valued my house. Can I sue him for ruining a sale? I am moving to another county and needed the money from my house sale to cover costs of new house which now I will loose because of the terrible appraisal.
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Christopher B, Esq. replied 5 months ago.
My name is***** and I will be helping you with your question today. This is for informational purposes only and does not establish an attorney client relationship. Unfortunately no, there is no cause of action by a seller of a house against a bank or any other lender because that lender does not provide a loan no matter how unfair you feel their decision making process is/was. The lender or appraiser has no legal obligation to you as a seller and the courts will not step in the way of free enterprise and the way a lender does business. Even if the appraisal was terrible or even if a sale was done because a lender decided not to give a buyer a large enough loan. A decision to allow such a cause of actions by the courts would be extremely detrimental to the entire industry and would be terrible for public policy so unfortunately there is nothing you can do about the way the appraiser affected the sale.
Expert:  Christopher B, Esq. replied 5 months ago.
Just checking back in, do you have any further questions?

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