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Reconsideration of Value In order to facilitate the Reconsideration of Value process, please use this form when appealing an appraisal. SUBJECT PROPERTY INFORMATION Subject Property Address: Loan.

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How to fill out the Rov Form online

Completing the Rov Form is an essential step in the process of appealing an appraisal. This guide will provide you with a clear and concise outline on how to accurately fill out the form to facilitate a successful reconsideration of value.

Follow the steps to complete the Rov Form online.

  1. Click ‘Get Form’ button to obtain the Rov Form and open it in your preferred online editor.
  2. Begin by entering the subject property information. Fill in the subject property address along with the loan number. Indicate if this appraisal is an FHA appraisal by selecting 'Yes' or 'No,' and provide the appraisal date.
  3. If applicable, fill in the FHA case number and the original value of the property.
  4. Enter the requestor's name and company. Specify your relationship to the property.
  5. Carefully select up to three comparable sales by avoiding common pitfalls outlined in the guidelines. Provide detailed reasons explaining why your chosen comps are better representations of the subject property.
  6. For each comparable, fill in the required fields including street address, city, data source, date of sale, sales price, year built, gross living area (GLA), and any additional comments.
  7. In the 'Reason for Dispute' section, select one or more reasons that pertain to your appeal, such as incorrect data or better comps available.
  8. Once you have completed all sections, review your entries for accuracy. After confirming the details, you can save changes, download, print, or share the form as needed.

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This process is often referred to as a “reconsideration of value” or “ROV.” Borrowers can point out, for example, factual or other errors or omissions, inadequate comparable properties, or provide evidence that the appraisal was influenced by prohibited bias.

 A Reconsideration of Value, or ROV, is the process in which you file an appraisal value dispute. The Reconsideration of Value comes into play when an appraiser's opinion of value is not agreed upon by the parties involved in the transaction.

A real estate appraisal will include a listing strategy, whereas a bank appraisal will not. During this process, the realtor will often also go over their marketing plan for their home, set expectations on the listing process, and answer any questions you have.

An ROV is a request to the appraiser to reconsider the analysis and conclusions of his or her appraisal based on information not presented on the appraisal report. Only your lender may request an ROV from an appraiser on your behalf.

Reconsideration of Value is the term used by the residential appraisal industry for the process by which a party involved in a lending transaction - most often a prospective borrower - who disagrees with an appraiser's opinion of value may submit information for the appraiser to consider.

The Reconsideration of Value (ROV) is the formal process of appealing a low VA appraisal after the appraiser makes their determination. There is no guarantee the ROV will increase the appraisal, but it at least gives buyers a shot at a higher appraisal value and a successful VA purchase.

The Reconsideration of Value process is not like asking for a second opinion; there is no new appraisal performed, nor is there an opportunity to use a “different appraiser”. Rather a Reconsideration of Value is about presenting facts that may have been overlooked or omitted by the original home appraisal.

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