Construction Market Value Reconsideration of Value 
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). Be respectful and constructive in your response. Meet deadlines, if attainable. Often, an ROV has a deadline for responding to it. Ask questions.
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?
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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. Appraisers prioritize: Arms length transactions Sales between unrelated parties at market value. Similar Sales Type The motivation behind a sale affects its price.
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. in addition to taking pictures.
Appraisal Buzz
JANUARY 13, 2025
Conversely, if the correlation is weak or negative, it might indicate that other factors, such as location or neighborhood amenities, are playing a more significant role in determining value. Enhancing the Accuracy of Property Comparisons A well-constructed correlation matrix helps appraisers refine their selection of comparable properties.
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