At Oak Leaf Community Mortgage, we know that a fair and accurate appraisal is critical in the mortgage process, both for buyers and sellers. A property appraisal is a key factor in determining loan amounts, and sometimes, the initial valuation may not fully reflect the property’s true market value. That’s where the Reconsideration of Value (ROV) comes in—an industry tool designed to help clients ensure their property is appraised accurately. Understanding this process can empower real estate professionals to better support their clients through home financing.

A Reconsideration of Value (ROV) is a formal request that allows clients to ask the appraiser to re-evaluate their initial analysis and conclusions. This process can be essential if the client or realtor believes that additional information or comparable sales data could impact the property’s appraised value. By providing new data or identifying overlooked factors, the ROV gives an opportunity to potentially adjust the property’s valuation, helping clients get the best possible outcome.

At Oak Leaf Community Mortgage, we offer an easy-to-navigate online form and PDF form to guide your clients through the process smoothly. It’s important to note that only one ROV is permitted per loan file, so making sure the request is thorough and accurate is important.

Here’s how you can ensure a successful submission:

A key part of the ROV process is adhering to Appraiser Independence Requirements. These regulations prevent any attempts to unduly influence an appraiser’s decision. At Oak Leaf Community Mortgage, we ensure that all ROV forms are reviewed with these requirements in mind, ensuring fair practices throughout.

This is a critical area for real estate professionals to understand, as it helps maintain transparency and fairness during the homebuying process. Following these guidelines can ensure your client’s ROV is considered without any concerns about influence.

As a realtor, offering guidance through the ROV process can make a significant difference in your client’s experience. A successful ROV can help a client secure a loan amount that better aligns with their property’s true value, potentially leading to more favorable mortgage terms. This is particularly important in competitive markets, where every dollar counts.

Additionally, a thorough understanding of ROVs gives real estate professionals a valuable tool in their toolkit, allowing them to support clients who may otherwise feel frustrated by an appraisal they believe is inaccurate. By helping clients navigate this process, you can strengthen your relationship with them and build trust as a knowledgeable and reliable resource.

At Oak Leaf Community Mortgage, we’re committed to providing the tools and resources needed for successful home financing. The ROV process is just one way we work to ensure fair outcomes for our clients. By making it easy to submit an ROV and guiding realtors and clients through the process, we aim to make homebuying as smooth and transparent as possible.

For more information or to access the ROV forms, visit our Reconsideration of Value page. Let’s work together to make the appraisal process fair and transparent for everyone.