Cleveland Appraisal Blog
MARCH 30, 2021
Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. But they didn’t.
Birmingham Appraisal
JUNE 13, 2023
However, as an appraiser, I have to look beyond the offers and consider other factors that affect market value, such as supply and demand, market trends, buyer preferences, financing conditions, etc. Multiple offers can be useful information for appraisers, but they are not conclusive evidence of market value.
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Annarbor Appraisal
SEPTEMBER 6, 2020
Challenging the results of the appraisal for mortgage financing. When a sale is involved, the valuation may be lower than contracted price. Lenders offer a formal “Reconsideration of Value” (ROV) process. The first thing to remember as a consumer or real estate agent, is that the client is the lender, not the consumer.
Birmingham Appraisal
FEBRUARY 20, 2024
It’s important to understand that collaboration does not mean that both parties must work together so that the deal closes at the contract price no matter what. The appraiser must make sure that they are providing an impartial valuation so that the market value shown in the appraisal is as accurate as possible.
Portland Appraisal Blog
APRIL 14, 2019
There has been a meeting of the minds, the contract has been signed and everyone is anticipating a smooth closing. Usually this is done via a document known as a “reconsideration of value” (ROV for short). What is a Reconsideration of Value? In short, a reconsideration of value is another appraisal.
Appraisal Today
NOVEMBER 4, 2022
Reconsideration of value and Appraisers. Excerpts: As residential property prices plateau or decline in various markets and as borrowers have financial problems with fewer financing options, there are more legal claims being filed by borrowers against appraisers and lenders in relation to appraisals for loans made in recent years.
Appraisal Today
APRIL 5, 2024
More significantly, loanDepot.com agreed to an extensive revamping of: (a) its reconsideration of value practices; (b) fair housing/non-discrimination training requirements; (c) statistical tracking of appraisal outcomes; and (d) training and contractual requirements for AMCs and appraisers. to 7% range observed since December.
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