Reconsideration of Value (ROV) for home appraisals

An appraisal is a key part of your home financing journey.

Appraisals are performed to assist Truist in making lending decisions. Whether you’re purchasing a home, refinancing an existing home loan, or selling a home, the appraisal value of a home is a crucial aspect of your mortgage application. Appraisals are completed by a third party to determine the value of your property and are evaluated internally by our dedicated appraisal review team.

You’ll receive a copy of the appraisal or valuation report when it’s completed. Upon review, if you believe the report is inaccurate, deficient, or reflects discriminatory practices, you have the right to request a Reconsideration of Value (“ROV”).

An “ROV” is a request to an appraiser to re-assess the appraised value of a property due to potential appraisal reporting deficiencies, inappropriate selection of comparable properties, or based upon additional information the appraiser should consider.

Truist is committed to ensuring an accurate and fair appraisal process, free from discrimination and bias. If you believe that any person has attempted to influence the appraiser or have any concerns with the credibility of the appraisal, please contact your Loan Officer.

Truist will review these concerns if:

  • You believe the appraised value does not accurately reflect the property’s true market value.
  • There are errors in the appraisal report.
  • The appraiser didn’t consider relevant information about the property or comparable properties.
  • You suspect that personal characteristics or neighborhood demographics may have improperly influenced the appraised value.

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If you have concerns about your appraisal, your Loan Officer will discuss Truist’s Reconsideration of Value process. The first step is to work with your Loan Officer to submit information necessary to complete the ROV request. 

Prefer to be contacted?

Click on the link to schedule a date/time for a Mortgage Professional to call you back.

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For example, you can submit:

  • Past or current valuation reports on the property
  • Other comparable closed sales which appear to be potentially more appropriate than the comparable properties used in the appraisal
  • Description of inaccuracies or inconsistencies in the report, including property misrepresentations and factual errors (along with any supporting documentation)

If your appraisal is determined to contain flaws or defects that are material in nature, Truist will attempt to reconcile these concerns through an appraisal revision. The ROV process for the disputed appraisal may take up to eight days to complete. If Truist is unable to reconcile differences, a new appraisal will be necessary to proceed with the loan application. The time required to obtain a new appraisal may vary significantly by location.

You’ll receive a copy of the revised appraisal (if revised) or new appraisal (if a new appraisal was required) upon completion of our review. Please note that only one Reconsideration of Value is permitted per appraisal, and initiating a ROV does not guarantee a change in the appraised value. The outcome will depend on the strength of the supporting documents you provide and the result of the review process.

To proceed with a ROV, contact your loan officer. If you don’t have one yet, find a mortgage professional below. 

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