Military & VA
VA Tidewater and Reconsideration of Value
Two different stages for addressing concerns about a VA property valuation.
A familiar name with a specific purpose
For a military community like Hampton Roads, the word Tidewater has more than one meaning. In VA lending, it also describes a procedure used when an appraiser anticipates that the value may fall short of the sales price. It creates an opportunity for relevant market evidence to be considered before the appraisal is completed. It is not a declaration that the transaction is over or that the value must be raised.
Tidewater happens before the final result
When Tidewater is invoked, the designated contact works within the VA process to provide supporting information. Buyers and sellers should respond promptly through the lender and their agents. Ask for the exact response deadline and requested format immediately. Do not wait for the closing week to start collecting the information or assume the appraiser will contact everyone involved in the sale.
An ROV comes at a later stage
After the appraisal is completed and a Notice of Value is issued, a reconsideration of value may be requested under VA procedures. This is a different stage from Tidewater. Ask the lender which process applies, who will submit the request, and what evidence is needed. Keep the two steps distinct when discussing the timeline so everyone knows what has already happened and what remains available.
Build a useful property record
Work with your agent on relevant sales evidence and accurate property details. Explain why a proposed comparison fits the home rather than relying on its higher sale price. Organize improvements and supporting records clearly. The evidence should help evaluate market value; the buyer’s desired loan amount or the seller’s financial needs do not establish that value. Maintain professional communication throughout the review.
Keep the purchase plan moving
Discuss financing, the contract’s VA provisions, and any needed extensions with the lender and agent. Ask a qualified professional to explain the protections and obligations in the actual signed documents. Neither Tidewater nor an ROV guarantees a higher result, a price reduction, or an automatic extension. A parallel plan for negotiation and cash requirements helps everyone make a timely decision once the final value is known.
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.