article thumbnail

Free Webinar: Components of AMC Training by Josh Walitt

Appraisal Buzz

Additionally, client contracts often require that appraisal management companies ensure staff receive proper training on various topics. Buzz : How should AMCs handle a reconsideration of value (ROV)? Josh : If the AMC knows how to handle a revision request, they already know how to handle a reconsideration of value (ROV).

Training 366
article thumbnail

A New ‘Standard’ for ROV Requests

Appraiserblogs

Related Posts: Requests for Reconsiderations.appraisers continue to receive requests for reconsiderations on a daily basis. White Paper: Requests for Reconsiderations The paper states that…. Reconsideration of Value Requests Open invitation for spurious reconsideration requests. No thank you.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Reconsideration of Value and Appraisers

Appraisal Today

Excerpts: Suggested protocols for responding to Reconsideration of Value requests. Click here to listen to Tim Andersen, MAI’s podcast, “Reconsiderations of Value: Satan’s Own Seed, Right?” The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.94

article thumbnail

The Appraiser’s Perspective: Insights and Tips for Real Estate Agents

Birmingham Appraisal

Multiple offers do not guarantee that the property will appraise for the contract price Even if the seller accepts the highest offer, there is no guarantee that it will be supported by the market. If there are no comparable sales that support the contract price, this may result in a lower appraised value.

article thumbnail

The appraisal gap is complicating deals across the country

Housing Wire

For example, one client had a home under contract for $983,000 and the list/appraised value was just $900,000, the LO said. An LO in Texas told HousingWire that the competition is intense where he is, and buyers are “doing extraordinary things,” which has changed deal structures. It’s made deals more challenging.

Appraisal 539
article thumbnail

Tidewater Initiative: What VA Appraisers Need to Know

McKissock

The VA has a unique set of protocols, known as the Tidewater Initiative, that a VA appraiser must follow when he or she expects the appraised value of a property is going to be lower than its contract price. This initiative has significantly reduced the number of formal Reconsideration of Value (ROV) requests received by the VA.

article thumbnail

Tidewater Initiative: What VA Appraisers Need to Know

McKissock

The VA has a unique set of protocols, known as the Tidewater Initiative, that a VA appraiser must follow when he or she expects the appraised value of a property is going to be lower than its contract price. This initiative has significantly reduced the number of formal Reconsideration of Value (ROV) requests received by the VA.