Get Sample Reconsideration Of Value Letter

The letter is a written request for the Reconsideration of Value with the borrower's thoughts on why the appraised value should be increased and what they think the value should be. The next step is submitting your ROV request to the correct VA Regional Loan Center for review.

Sometimes some of the requirements from the Lender do not make it to the engagement letter, which means a revision is needed, so a revision request is sent out to the appraiser, note: with each revision made to the appraisal a new signature date is required (date of change or date of the revision which must be applied ...

Renegotiate The Offer Start by requesting the seller to lower the price to the appraised value. This would eliminate the appraisal gap and your roadblock to buying the home. If the seller is unwilling to lower the price to meet the appraised value, ask them to split the difference.

All requests for reconsideration must be in writing and based on errors and/or factual information....DON'T: Use appeal form to criticize or complain about the appraiser or appraisal. Use emotional language. Indicate what the value should be or how much it should be increased.

For example, you might respond, “I've received your reconsideration of value request and will take a look at the concern cited and get back to you within one day.”

If you disagree with your valuation, you can appeal it. The first step is to file a notice of appeal by filling out the form on the back of your mailed notice or online at bcad.org.

The most likely reason for the question... an attempt to influence the appraiser into providing a higher value conclusion (See the Section on Appraiser Independence). There are times where requests of these types are legitimate and the client, due to deficiencies, is seeking a superior appraisal.