Buffalo-Water 1, LLC v. Fidelity Real Estate Company, LLC

*269 **14 In Eliot v. Coulter , 322 Mass. 86 , 91, 76 N.E.2d 19 (1947), this court held that, where parties agree that the fair value of a property shall be determined by an appraiser, "the correctness of the principles and methods of valuation adopted by [an] appraiser[ ] cannot be inquired into by the courts, in the absence of fraud, corruption, dishonesty or bad faith." Under this common-law rule, a judge may not invalidate "the determination of appraisers selected by agreement to resolve a dispute" unless the appraisal process or decision was tainted on one of these four grounds. Nelson v.…