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Anyone ever have success with a Reconsideration of Value?
Posted on 9/16/26 at 7:32 am
Posted on 9/16/26 at 7:32 am
Appraiser did me dirty. ROV is being submitted and was wondering what other people's experiences were with these. Seems like bullshite that I have to do this guy's work and don't even get a refund if he's proven wrong.
Posted on 9/16/26 at 8:47 am to Buck_Rogers
Guessing you are talking residential.
Do you have a copy of the appraisal?
Find at least three comps that are better than what he used - more recent sales, closer in proximity, closer in square footage or upgrades.
Useless to attack the adjustment he made to the comps he used - that’s all “opinion”.
Do you have a copy of the appraisal?
Find at least three comps that are better than what he used - more recent sales, closer in proximity, closer in square footage or upgrades.
Useless to attack the adjustment he made to the comps he used - that’s all “opinion”.
Posted on 9/16/26 at 9:20 am to Buck_Rogers
I was able to get appraisal lowered on several rentals a number of years ago. I brought in sales comps and also showed lower values based on rental income approach. I think they lowered 5 or 6 out of 8 properties.The lower value was increased back up a year or so later. I chose to just pay it to going forward.
Posted on 9/16/26 at 9:24 am to Buck_Rogers
Are you talking assesment value?
Posted on 9/17/26 at 1:32 am to Buck_Rogers
If you go that route, you need to have access to good comps. As in, better comps than the ones used in the appraisal.
If a realtor is involved, put them to work, and tell them to find comps that are similar (location, size, room count, etc.) If you submit comps that aren't relevant, you won't get any traction.
If you think the appraisal was done by a yo-yo, chances are that the appraiser won't spend any time on the ROV (more work for them that they don't get paid for.) Probably worth the extra money to request another appraisal if possible.
If a realtor is involved, put them to work, and tell them to find comps that are similar (location, size, room count, etc.) If you submit comps that aren't relevant, you won't get any traction.
If you think the appraisal was done by a yo-yo, chances are that the appraiser won't spend any time on the ROV (more work for them that they don't get paid for.) Probably worth the extra money to request another appraisal if possible.
Posted on 9/21/26 at 2:19 pm to Bill Parker?
It's for a residential home. I wasn't allowed to request another appraiser, so I submitted a rather lengthy 60 page ROV with RMS's and pictures. The lender said everything had to fit on their 3 page form. The appraisal was so bad that it was impossible to limit it to a few paragraphs without watering it down. Things like no water source for one comparable property that relied on hauling water. Mind you, lenders require you to have a permanent water source in this area. I have a proven high yield well at 550ft deep, and there's a good chance you won't hit water at all in this area, so that's a huge risk a buyer would take on this "comparable property". That's just a small example of what the appaiser left out. I told them to go to hell and found another lender.
This post was edited on 9/21/26 at 2:21 pm
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