I don’t know chit about commercial real estate, but when you go get a mortgage on a house, the lending institution doesn’t take your word for the value of the property. They send their own appraiser to establish that.
Exactly. That is why this whole lawsuit is total bull s**t. As a career commercial banker, I never had an application where the owner did not overvalue his real estate. That is why we got appraisals. It's called due diligence.
