NOVs (Notice of Value) What if I don't agree with the value on the appraisal or NOV?
Published 08/09/2012 11:45 AM |
Updated 08/09/2012 11:45 AM
What if I don't agree with the value on the appraisal or NOV?
Any party of interest to the transaction can submit a request (written) through the lender to the fee appraiser on whose appraisal the current VA valuation is based, for a reconsideration of value. Requests other than to change value will be submitted through the lender to the VA office of jurisdiction. Although there is no requirement that comparable sales or other real estate market information be submitted with a request for a change in value, such supporting information will greatly assist VA in reviewing the request. LAPP cases should also include a recommendation by the SAR.