The Liability Of Valuers For Negligent Property Valuations

There is much litigation pending alleging negligent valuations of property that led to losses suffered by plaintiffs. Issues arise as to whether a duty of care is owed, whether the standard of care was reached and the quantification of damages. A recent case addresses some of these issues.

In Brownrigg v. Leacy (Unreported High Court Heddigan and J 20/9/13) the plaintiff succeeded in such a claim. The plaintiff wished to purchase certain lands (hereinafter the first plot). In order to do this the plaintiff needed to sell lands certain lands (hereinafter the second plot). The first defendant auctioneer valued the second plot at over €10 million in a letter 18/6/07. The second defendant auctioneer valued the second plot at €6.9 million in a letter 20/6/07.