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Apr 26, 2004 ... The purpose of this circular is to reaffirm VA policy for processing requests for Reconsideration of Value (ROV) and to confirm compliance with .

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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.

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.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232