Cleveland Appraisal Blog

MARCH 30, 2021

When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. The number of professional reconsiderations of value coming in are increasing. I’m grateful that nearly half of my work these days is not for lending purposes.

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Housing Wire

JANUARY 3, 2023

When it comes to establishing market value, I think the VA appraisal at present determines this as well as any other. When value is not achievable in the opinion of the appraiser — both Tidewater and Reconsideration of Value allow more protective flexibility for the borrower than any other loan type.

Modernization 79

Modernization Real Estate Agent Appraisal Process Reconsideration of Value 79

McKissock

DECEMBER 28, 2021

Another content and curriculum manager at McKissock, Dan Bradley, warns that three major unknowns face the appraisal profession for 2022: the PAVE (Property Appraisal and Valuation Equity) task force ; inflation and interest rates; and property values/market conditions. These are expected to be significant and far-reaching.

Appraisal 96

Appraisal Reconsideration of Value Real Estate Property Appraisal 96

Annarbor Appraisal

SEPTEMBER 6, 2020

The appraisal is for their benefit, but at the same time, the appraiser needs to complete a fair and supportable valuation. There should never be any bias in favor of any party, or value. When a sale is involved, the valuation may be lower than contracted price. Lenders offer a formal “Reconsideration of Value” (ROV) process.

Mortgage Appraisal 78

Mortgage Appraisal Appraisal Mortgage Reconsideration of Value 78

Portland Appraisal Blog

APRIL 14, 2019

The purpose of this blog post is to lend some insight into what an agent should do and not do during the third stage. 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 78

Appraisal Reconsideration of Value Agents Market Value 78

Birmingham Appraisal

FEBRUARY 20, 2024

The lender then obtains an appraisal to make sure that the property they are lending on, which is the collateral for the loan, is worth what they are paying for it. 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.

Agents 92

Agents Appraisal Real Estate Agent Bracketing 92

Birmingham Appraisal

SEPTEMBER 15, 2022

A mortgage appraisal is an appraisal that is done for mortgage lending purposes. 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. What is a Mortgage Appraisal?

Appraisal 96

Appraisal Inspection Appraisal Process Real Estate Agent 96

Appraisal Today

NOVEMBER 4, 2022

Reconsideration of value and Appraisers. Mortgage Lending You decide. It ruled that the lender did not owe the borrower a legal duty to assure that the independent appraiser’s valuation was correct. Mortgage Borrowers Can Challenge Inaccurate Appraisals Through the Reconsideration of Value Process.

Reconsideration of Value 52

Reconsideration of Value Appraisal Inspection Advertising 52

Housing Wire

MARCH 9, 2021

The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiser – valued her home at an amount lower than its actual worth because of her race.

Reconsideration of Value 482

Reconsideration of Value Appraisal Valuation Appraisal Process 482

Appraisal Today

JULY 12, 2024

Short-term rentals (STRs) and Form 1007 Excerpts: When appraising an STR for conventional mortgage lending, the appraiser must take care to only include the real property in the value, not the personal property or the business/going concern. By staying informed and considering all relevant factors, you can deliver credible valuations.

Appraisal 68

Appraisal Design Contracts Business 68

Appraisal Today

FEBRUARY 23, 2024

Take Note of GSE Requirements To read more, Click Here My comment: If you do residential lending appraisals, read this article! This will save time, especially when consumers request a Reconsideration of Value. Very comprehensive. I have been hearing rumors for years about GSE complaints.

Appraisal 68

Appraisal Real Estate Contracts Reconsideration of Value 68

Housing Wire

DECEMBER 23, 2024

The foremost was using comparable home sales (comps) from a predominantly black neighborhood outside of the recommended radius to inform the homes valuation, rather than from the largely white neighborhood of the residence allegedly because the homeowner who requested the appraisal was black herself.

Legal 356

Legal Law Reconsideration of Value Valuation 356