Common reasons for a reconsideration request
A reconsideration request is a way to raise a specific question about the facts, the comparable sales or the analysis in a report, with supporting information. A request can address:
- Errors or omissions — incorrect data or calculations, such as square footage, room count, lot size, condition, upgrades or other property characteristics.
- Additional relevant evidence — market information the report didn't consider, including comparable sales that may better reflect the subject's market.
- Concerns about bias or discrimination — any indication the value was influenced by a prohibited basis. These are reviewed under a separate process and may be reported to the appropriate authorities.
A value below the purchase price or your expectations does not, by itself, establish an appraisal error. Identify the fact, comparable sale or part of the analysis you want reviewed and explain the concern.
What to send with it
Explain what you believe is wrong or missing and include the information supporting your concern. Explain each concern with facts rather than opinion: what you believe is wrong or missing, where it appears in the report, and the information that supports it. Specific, sourced information gives the appraiser something concrete to evaluate. Helpful documentation can include:
- A short statement of what is believed to be in error or missing, and why
- Permits, plans, listing details, photographs or property records that establish the fact in question
- Additional market data, where it's relevant to the concern
- Alternative comparable sales with their MLS or public-record source, where the concern is about comparable data
Comparable sales are one form of evidence, not a requirement. A factual correction may need nothing more than the record that shows it.
Comparable-sale guidelines
When a request includes alternative comparable sales, they carry weight when they help explain the property's market — same market, similar house, recent — and the request explains why they're a better fit than the sales in the report. As a working guide:
| Criterion | Working guideline |
|---|---|
| Sale date | Recent closed sale near the effective date |
| Location | Same market area or competing neighborhood |
| Size and style | Similar living area, lot, age and design |
| Verification | MLS number or public-record source provided |
| Number | Follow the lender's submission requirements for alternative sales |
Lenders set their own submission requirements; follow the lender’s instructions where they differ.
Further readingHow to submit useful alternative sales for an ROV
What happens after you submit
A reconsideration starts with the lender. Borrowers should ask their lender for its request form and submit it the way the lender directs. The lender confirms the request is complete, asks for anything missing and sends it on for review.
- 01
Request
Lender submits with documentation.
Lender - 02
Screen
Checked for completeness and appropriateness.
- 03
Route
Sent to the appraiser; independence protected.
- 04
Respond
Appraiser addresses each point in writing.
Appraiser - 05
Review and deliver
Outcome reviewed and returned to the lender.
The lender's role
Receives the borrower's request, screens it for specificity, and submits it through Avisso. The lender does not contact the appraiser directly about value.
The appraiser's role
Reviews the information, responds to each point, and revises the report only where the analysis supports it. The appraiser remains responsible for the professional opinion.
Avisso's role
Checks the request is complete and appropriate, routes it while protecting independence, tracks the response, and reviews the outcome.
What an ROV can't do
It can't guarantee a change in value, a faster closing, or a second appraisal. The appraiser responds to the request in writing even when no change is warranted. The appraiser responds to the concern and explains any correction or change. The original value may remain unchanged. A lender can separately decide whether a review or second appraisal is warranted.
Questions
Requests come through the lender, which is the client of record. Borrowers should ask their loan officer.
It depends on the request and the appraiser's schedule. Your contact will tell you where it stands.
Tell the lender. Concerns about discrimination are handled under a separate review and may be reported to the appropriate state and federal authorities.
Borrowers should contact their lender about the report or an ROV. Avisso coordinates report-related questions with the appraiser on client orders.