Legal Question in Real Estate Law in North Carolina

Re: Inflated Appraisal

The issue is somewhat complicated depending on many factors, such as whether you obtained the appraisal, or whether someone else obtained it. Sometimes you are not allowed to allow an appraisal which you did not contract and pay for. The nature of the claim is typically breach of contract or negligent misrepresentation. A pattern of fraud is not necessarily relevant, and may be unlikely. You also don't want to jump the gun on filing a claim with the Appraisers' Board. In view of the amount of your claim, you probably do want to consult with an attorney who has handled these types of cases.

Re: Inflated Appraisal

I think you may have a basis for a lawsuit and you should consult with a real estate litigation attorney immediately - the problem is that this may be a pattern of fraud against many people so I don't know what your chances of recovering are.

You can also file a complaint with the NC Appraisers Board.

File a complaint with the North Carolina Office of the Attorney General Consumer Protection Division

A final resource may be the Financial Law Protection Center which deals mainly with foreclosures and usurious loan practices. Maybe they can help you or be a good resource.

This site doesn't allow me to post websites or phone numbers. If you contact me, I can provide you with some numbers.

- Jeff