Appraisal Buzz

JUNE 7, 2021

Additionally, client contracts often require that appraisal management companies ensure staff receive proper training on various topics. We also address how to handle scenarios where a party, such as a loan officer or listing agent, attempts to select or deselect the appraiser.

Training 366

Training Reconsideration of Value Valuation Appraisal 366

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.

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

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.

Reconsideration of Value 73

Reconsideration of Value Appraisal Real Estate Insurance 73

Annarbor Appraisal

SEPTEMBER 6, 2020

When a sale is involved, the valuation may be lower than contracted price. Lenders offer a formal “Reconsideration of Value” (ROV) process. Contact the loan officer for assistance in submitting an ROV, but remember these processes are mostly one-and-done, therefore be rational and compelling in that first submission.

Mortgage Appraisal 78

Mortgage Appraisal Appraisal Reconsideration of Value Mortgage 78

Birmingham Appraisal

SEPTEMBER 15, 2022

The AMC scenario was put into place several years ago to reduce direct contact between the loan officer and the appraiser, however as I said it can be a slower process. 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 98

Appraisal Inspection Appraisal Process Real Estate Agent 98

Housing Wire

OCTOBER 24, 2024

Trained counselors can bring much-needed clarity to a complex process, even when customers are dealing with a highly competent realtor or loan officer. Handling a below-contract appraisal and request for reconsideration of value (ROV). Anticipating issues regarding rate lock and/or mortgage contingency expirations.

Training 434

Training Mortgage Reconsideration of Value Architecture 434