Contracts Realtors Reconsideration of Value 
Birmingham Appraisal
JUNE 13, 2023
Multiple offers do not guarantee that the property will appraise for the contract price Even if the seller accepts the highest offer, there is no guarantee that it will be supported by the market. If there are no comparable sales that support the contract price, this may result in a lower appraised value.
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. Sometimes there are sales that were showing as under contract as of the effective date of the appraisal that had closed. Sometimes errors occur since humans are human.
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Birmingham Appraisal
FEBRUARY 20, 2024
It’s important to understand that collaboration does not mean that both parties must work together so that the deal closes at the contract price no matter what. 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.
Appraisal Today
APRIL 7, 2023
I would say about 90% of the voicemails that I receive are from an irate homeowner worried about a rate lock or a stressed out realtor wondering if they are going to close on time. Comps??? == Reconsiderations of Value and What to Do About Them By Danielle Lopez This reconsideration of value has already set me back 30 minutes.
Birmingham Appraisal
MARCH 26, 2025
How Agents Can Use This Knowledge for Better Pricing Understanding how appraisers select comps helps agents create more accurate CMAs that will hopefully decrease the chances of there being significant differences between the eventual contract price and appraisal value.
Appraisal Today
NOVEMBER 4, 2022
Keep them up to date in every step of the report so that they can keep the Lender (and the Buyer/Seller/Realtor/Closing Attorneys when applicable) all in the loop on the progress of the report. Reconsideration of value and Appraisers. This process is often referred to as a “reconsideration of value” or “ROV.”
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.
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