If an appraisal comes in lower than expected, you may hear the term Reconsideration of Value, often shortened to ROV.
Most homeowners, buyers, and sellers are not told what this actually means or how the process works. They are simply told the value is low and the lender cannot change it.
That is not always true.
A Reconsideration of Value is the formal process lenders use to review appraisal errors, but it only works when it is done correctly.
Here is what an ROV is, how it works, and what most people get wrong.
What Is a Reconsideration of Value (ROV)?
A Reconsideration of Value is a formal request asking the lender to review an appraisal for factual errors or missing information that may have affected the value.
An ROV is:
- A lender-controlled process
- Based on documentation and facts
- Submitted through proper channels
An ROV is not:
- An argument about price
- An opinion about what the home should be worth
- A request sent directly to the appraiser
- A guarantee the value will change
Understanding this difference matters.
Why Reconsideration of Value Requests Exist
Appraisals are created by people, and people make mistakes.
Common issues include:
- Incorrect square footage
- Finished space labeled as unfinished
- Missing upgrades
- Weak or outdated comparable sales
- Incomplete property descriptions
The ROV process exists so these issues can be reviewed when supported correctly.
How Does a Reconsideration of Value Work?
While details vary by lender, the general process follows the same structure.
Step 1: The Appraisal Is Reviewed
The borrower or agent reviews the appraisal and identifies specific factual issues.
General complaints like “the value is too low” do not qualify.
The focus must be on verifiable problems in the report.
Step 2: Supporting Evidence Is Collected
Each issue raised should be supported with documentation, such as:
- Floor plans or surveys
- Photos of finished areas or upgrades
- MLS data for better comparable sales
- Public records
Evidence should be clear and easy to follow.
Step 3: The Request Is Submitted Through the Lender
The Reconsideration of Value request is sent to:
- The loan officer
- The lender’s appraisal or underwriting department
The lender decides whether the request meets their guidelines and whether it will be forwarded for review.
Step 4: The Appraiser Reviews the Request
If the lender approves the ROV:
- The appraiser reviews the submitted information
- The appraiser may agree, disagree, or partially agree
- The appraiser explains their response
The appraiser may revise the value, but they are not required to.
Step 5: The Lender Communicates the Outcome
The lender provides the result of the review:
- Value unchanged
- Value revised
- Additional explanation provided
At this point, the lender determines the next steps.
What a Reconsideration of Value Can and Cannot Do
An ROV can:
- Correct factual errors
- Address missing information
- Improve support for the value conclusion
An ROV cannot:
- Force a value increase
- Override market data
- Replace the appraisal automatically
The goal is accuracy, not persuasion.
Why Most Reconsideration of Value Requests Fail
Many ROV requests are denied or ignored because:
- The issues raised are vague
- The evidence is unorganized
- Too much irrelevant information is submitted
- The tone is emotional instead of factual
- The request does not follow lender procedures
Even valid issues can fail if they are not presented the right way.
When an ROV Makes Sense
A Reconsideration of Value makes the most sense when:
- The appraisal contains clear factual errors
- Important information was missed
- Better comparable sales were available at the time
- The issues can be supported with evidence
It is less effective when the value difference is purely opinion-based.
A Smarter Way to Approach the ROV Process
Requesting a Reconsideration of Value is not about luck.
It is about:
- Knowing what qualifies
- Knowing what evidence matters
- Knowing how to organize the request
- Knowing what language to use
- Knowing what not to submit
Most people struggle because they are guessing.
Want a Clear ROV System?
If you want a step-by-step process that shows you:
- How to review your appraisal properly
- What errors actually matter
- How to organize supporting evidence
- How to submit an ROV the right way
- What emails and scripts to use
- What mistakes to avoid
The How to Fight a Low Appraisal AppraisalKey Toolkit walks you through the entire Reconsideration of Value process in clear, simple steps.
A Reconsideration of Value is a real option, but it is not automatic.
Knowing what a Reconsideration of Value is and how it works gives you clarity, control, and a better chance of protecting your property’s true value.