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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.
- Click ‘Get Form’ button to obtain the Rov Form and open it in your preferred online editor.
- 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.
- If applicable, fill in the FHA case number and the original value of the property.
- Enter the requestor's name and company. Specify your relationship to the property.
- 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.
- 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.
- In the 'Reason for Dispute' section, select one or more reasons that pertain to your appeal, such as incorrect data or better comps available.
- 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.
Start your document submission process online now!
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.
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