Birmingham Appraisal
JUNE 13, 2023
This can create challenges for both agents and appraisers, especially when it comes to determining the market value of the property. As an agent, you might think that multiple offers are a clear indication of market value and that the highest offer should be accepted as such.
McKissock
NOVEMBER 16, 2021
To help you out, we’ve put together some practical information to strengthen your responses to a mortgage lender’s appraisal appeal, called a reconsideration of value (ROV). In the end, if the information provided justifies a reconsideration of value, then revise the appraisal report accordingly.
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Portland Appraisal Blog
APRIL 14, 2019
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. There is a lot to unpack here, but let’s just focus on the idea that market value is the most probable price.
Housing Wire
JANUARY 3, 2023
When it comes to establishing market value, I think the VA appraisal at present determines this as well as any other. When value is not achievable in the opinion of the appraiser — both Tidewater and Reconsideration of Value allow more protective flexibility for the borrower than any other loan type.
Birmingham Appraisal
FEBRUARY 20, 2024
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. The sales can be considered during the development of the appraisal rather than after it is completed through a reconsideration of value which can delay the home buying process.
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. Does this seem healthy to you?
Birmingham Appraisal
SEPTEMBER 15, 2022
Banks are typically absolved from discrepancies between the amount they lend and the true market value of the home meaning that they will not be held responsible to the buyer. There is always the possibility that the appraisal value is less than the contract price. Appraisal vs Home Inspection.
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