Surveyors Negligence / Valuer Negligence

Published on 02 November 2010 by ian in blog


We look at  surveyor negligence and valuer negligence claims.  Liverpool Solicitors Armstrongs writes.

The most recent decision is that of K/S Lincoln  v CB Richard Ellis Hotels Limited (2010).

The claimant were investors with four hotels.  The Defendant were instructed to value the hotels.  Proceedings were issued against the Valuers.  Part of the claim was that of negligent valuation by the Defendant.  The Judge decided, following Case Law that provided the valuation was within the margin of error then it didn’t matter if there had been a mistake in arriving at that figure.

Judge Corson  reviewed the case law on what was an appropriate margin of error and found:

1.         For a standard residential property, the margin of error may be as low as plus or minus 5%.

2.         For a valuation of a one off property, the margin of error will usually be plus or minus 10%.

3.         If there are exceptional features to  the property  then the  margin of error could be plus or minus 15%, or even higher in an appropriate case.

In this case  Judge Corson found that the error should be at least 10% either side of the correct valuation figure and as such the valuation was within that range.

The case provides for clarification of the margin of error allowed on the valuation of a property.

Armstrongs are professional negligence solicitors. We have a specialist unit which deals with  professional negligence claims. If you require advice as to a surveyors negligence claim or a claim against a valuer call us on 0151 236 3737 or fill in an enquiry form online.

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