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.

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Appraisal Today

APRIL 7, 2023

Comps??? == Reconsiderations of Value and What to Do About Them By Danielle Lopez This reconsideration of value has already set me back 30 minutes. The review and analysis of the lender-selected sales are completely irrelevant to the report and opinion of value. percent from 6.45 percent from 6.27 percent from 5.84

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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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Mortgage Appraisal Appraisal Mortgage Reconsideration of Value 78

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.

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Agents Appraisal Real Estate Agent Bracketing 86

Appraisal Today

NOVEMBER 4, 2022

Reconsideration of value and Appraisers. Mortgage Borrowers Can Challenge Inaccurate Appraisals Through the Reconsideration of Value Process. This process is often referred to as a “reconsideration of value” or “ROV.” from0.88 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.

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Reconsideration of Value Appraisal Inspection Advertising 52

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. percent from 6.93 percent from 7.14

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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.

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Appraisal Today

FEBRUARY 23, 2024

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 from 0.65 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. percent from 6.87

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Appraisal Real Estate Contracts Reconsideration of Value 67

Birmingham Appraisal

SEPTEMBER 15, 2022

What If The Appraisal Is Less Than The Contract? There is always the possibility that the appraisal value is less than the contract price. If this is the case most banks and mortgage companies have a formal reconsideration of value process.

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Appraisal Today

SEPTEMBER 9, 2022

Excerpts: Suggested protocols for responding to Reconsideration of Value requests. Click here to listen to Tim Andersen, MAI’s podcast, “Reconsiderations of Value: Satan’s Own Seed, Right?” The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.94

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Reconsideration of Value Appraisal Clients Contracts 52

Housing Wire

NOVEMBER 30, 2021

of the properties in Black neighborhoods receive appraisal values lower than the contract price versus 7.4% Reconsideration of Value (ROV) process. Consider that, per recent research by Freddie Mac , 12.5% for those in white neighborhoods, resulting in a gap of 5.2%.

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