Reconsideration of Value (ROV) Process

What Is a Reconsideration of Value (ROV)?

The Reconsideration of Value (ROV) process allows homeowners, buyers, and sellers to challenge an appraised property value that may not accurately reflect its true worth. If you believe the appraiser overlooked relevant information or used incorrect data, The Mortgage Calculator is here to help guide you through the ROV process.

An accurate appraisal is essential to ensuring a fair and equitable loan process. Our team works with you to address concerns and provide the necessary documentation to request a review.

When Should You Consider an ROV?

You might consider an ROV if:

• Comparable sales (comps) were overlooked.
• The appraiser used outdated or inaccurate comps.
• Home upgrades or improvements were not accounted for.
• Property characteristics were incorrectly described.
• Market trends were not properly reflected in the valuation.

Steps to Request an ROV

Follow these steps to initiate the Reconsideration of Value process:

1. Review the Appraisal Report: Carefully examine the appraisal to identify potential errors or missing information.
2. Gather Supporting Evidence: Collect documentation such as recent sales data, proof of upgrades, or corrected property details.
3. Submit a Request: Contact your loan officer or The Mortgage Calculator team to formally request an ROV.
4. Provide Supporting Documentation: Share all relevant evidence to support your request.
5. Await Appraisal Review: The appraiser will review the submitted information and determine if adjustments to the value are necessary.

What Can You Submit for an ROV?

Here are examples of the types of evidence you can submit:

• Comparable Sales Data: Identify recent sales that better reflect your property’s value.
• Documentation of Upgrades: Provide receipts, photos, or permits for renovations or improvements.
• Corrected Property Information: Highlight inaccuracies in square footage, bedrooms, bathrooms, or lot size.
• Market Trends: Share local market data to support a higher valuation.

How The Mortgage Calculator Helps You

Our team is committed to supporting you throughout the ROV process. Here’s how we help:

• Review your appraisal report for potential inaccuracies.
• Guide you in gathering strong evidence to support your case.
• Work with the appraiser and lender to ensure a thorough review of the information provided.

Start Your ROV Request Today

If you believe your property’s appraised value is incorrect, don’t hesitate to reach out. The Mortgage Calculator is here to guide you through the Reconsideration of Value process.

Request an ROV Now

Frequently Asked Questions About Reconsideration of Value (ROV):