Construction Contracts Reconsideration of Value 
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.
Appraisal Today
JULY 26, 2024
For typical assignments, I see more errors in 2-4 appraisals than I do in any other kind of property type, including vacant residential land (proposed construction requiring an as is and prospective value are not “typical” in my book of definitions). A Reality Check Southernmost House in Continental U.S. percent from 6.87
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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. built in 1825 Excerpts: 8 bedrooms, 5.5+
Birmingham Appraisal
MARCH 26, 2025
Construction quality, age, and condition A home built in 2023 is not truly comparable to one built in 1950, even if they have the same square footage. When this happens you will need to go through the lender and complete a reconsideration of value (ROV).
Birmingham Appraisal
SEPTEMBER 15, 2022
The observation continues on the inside of the home with the appraiser walking throughout the house and noting the materials of construction, condition of the home, and the various features. What If The Appraisal Is Less Than The Contract? There is always the possibility that the appraisal value is less than the contract price.
Appraisal Today
FEBRUARY 23, 2024
A local lender gave me an appraisal assignment on the proposed construction of 7 units in the city. This will save time, especially when consumers request a Reconsideration of Value. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 7.06
Appraisal Today
MAY 24, 2024
Finally, the vendor’s use of the photos is limited by contract, with stiff penalties for violation. I’m always looking for something new = ROV, Part 2 By George Dell, SRA, MAI, ASA, CRE Excerpts: ROV (Reconsideration of Value) is now in the boat. The average contract interest rate for 5/1 ARMs decreased to 6.48
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