Contracts Document Reconsideration of Value 
Appraisal Buzz
JUNE 7, 2021
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).
Housing Wire
APRIL 6, 2021
For example, one client had a home under contract for $983,000 and the list/appraised value was just $900,000, the LO said. One appraiser based in one of the hottest housing markets on planet earth – the front range of Colorado – told HousingWire that the most recent sales in any appraisal is important, as is documenting the work done.
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Appraisal Today
MAY 10, 2024
ROV (Reconsideration of Value) Changes – FHA and GSEs GSE Effective date is August 29, 2024 HUD Effective date is September 2, 2024 Editor’s note: This long section includes, In order: McKissock/Dave Bradley post with a good summary including links to HUD and GSE documents. For appraisers, Section II.D.2.
Birmingham Appraisal
JUNE 13, 2023
This can include a copy of the listing sheet, a list of recent improvements or upgrades, a plat map or survey, a floor plan, and any other relevant documents. If there are no comparable sales that support the contract price, this may result in a lower appraised value. Do provide a packet of information about the property.
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
JULY 26, 2024
To read the short Letter, Click Here To read the full 35-page document, with some interesting excerpts from public comments, including appraisers, Click Here My comments: If you are a residential lender appraiser read the Letter and the full document. The average contract interest rate for 15-year fixed-rate mortgages decreased to 6.21
Appraisal Today
OCTOBER 18, 2024
Appraisers are encouraged to document those properties you evaluated as potential comps, but did not use in your current reports. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.52 The average contract interest rate for 5/1 ARMs increased to 6.14
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