Legal Question in Real Estate Law in California

I cannot say whether this particular lawsuit has merit, but as a general proposition it is better to initiate suit with some of the proof missing than to let the cause of action perish.

If you are going to sue the appraiser for fraud, then you need to file an action for fraud before the statute of limitations expires. The statute of limitations for a fraud action is three (3) years, and it runs from the time the defrauded party knew, or should have known of the fraud.

You may want to speak to a competent real estate attorney. An issue that I see is what amount you bid in at the foreclosure sale, as you may be precluded by what is known as the full credit bid rule.

You are fast approaching or have already passed the limitations deadline for several of the causes of action you may have against the appraiser and others. There is absolutely no reason to wait for the outcome of the official complaint. You need to get in to see an attorney right away. Your question does not include your location. My main office is in Walnut Creek, and I have facilities throughout the San Francisco Bay Area, as well as in Sacramento and Carlsbad. If you would like to set up a no-obligation consultation at a location convenient to you, please give me a call.