Appraisals
Reconsideration of Value: How to Question an Appraisal
Build a factual request when an appraisal appears inaccurate or incomplete.
Start with the lender
A reconsideration of value, often called an ROV, is a process for asking that a valuation be reviewed when there are concerns about its accuracy or support. The borrower should contact the lender for its procedure, required form, supporting documentation, and submission deadline. Rules vary by loan program. Simply wanting a higher value, or needing the appraisal to match the contract, is not sufficient evidence that the analysis is deficient.
Identify specific issues
Read the report carefully before submitting a request. Useful questions may involve incorrect property characteristics, a material omission, or comparable sales that deserve another look. Identify the report page, describe the concern, and attach reliable support. An assertion such as “our house is nicer” is difficult to evaluate. A documented factual discrepancy gives the reviewer something concrete to investigate.
Make the evidence easy to review
Ask your agent to help organize relevant closed sales and explain their similarities, differences, timing, and relevance to the appraisal’s effective date. Provide an orderly packet rather than a stack of unrelated listings. An asking price is not proof of a completed sale. Follow the lender’s limits on supporting comparables and other materials; adding more documents does not necessarily create a stronger case.
Respect independence and timing
Submit through the lender’s authorized channel. Do not pressure an appraiser or offer compensation contingent on a higher result. Ask how the review will affect underwriting and the closing schedule, and request any needed contract extension separately. An ROV request does not automatically pause contract deadlines or obligate the seller to wait. If you suspect discrimination, tell the lender explicitly and ask about the complaint process as well.
Prepare for either answer
A review may result in corrections, an explanation supporting the original analysis, or another action the lender determines appropriate. There is no guaranteed increase. While the request is pending, consider your financing and negotiation alternatives. Keep a copy of the submission and response. The objective is a credible, well-supported valuation—not a promise that the purchase can close at the original terms.
General educational information, current as of publication. Loan requirements, property conditions, and contract rights vary. Confirm details with your lender, insurer, agent, or attorney as appropriate.