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Home Value

Lender-Ordered Appraisals & Reconsideration of Value Explained

What to do — and what not to expect — when a purchase or refinance appraisal comes in lower than anticipated.

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Home Value5 min read

A purchase or refinance appraisal coming in lower than expected is stressful, but it isn't the end of the process. Understanding why it happened — and the objective, documented path available to address it — is more productive than hoping the number simply changes.

Common Reasons an Appraisal Comes in Low

Comparable Sales Don't Support the Number

If recent, truly comparable sales in the area don't reach the purchase price or expected value, the appraisal will reflect that — even if the contract price itself was negotiated at arm's length.

The Appraiser Wasn't Aware of Recent Upgrades

Renovations, additions, or upgrades not visible during the inspection (or not documented for the appraiser) can be missed, especially if permits or receipts weren't provided in advance.

A Factual Error Affected the Analysis

Incorrect square footage, a missed bedroom or bathroom count, or an inaccurate lot-size figure in the report can meaningfully change the resulting value opinion.

The Objective Path: Requesting a Reconsideration of Value

1Review the report carefully for factual errors — square footage, room counts, condition notes, comparable property details.
2Gather objective, verifiable evidence: closed comparable sales the appraiser may have missed, permits for upgrades, or documentation correcting a factual error.
3Submit the reconsideration of value (ROV) request through your lender, not directly to the appraiser — lenders have their own process and timeline for this.
4Understand that an ROV is a request for the original appraiser to reconsider specific, documented points — it is not a negotiation toward a target number.

Frequently Asked Questions

An ROV is a formal request, submitted through your lender, asking the appraiser to review specific factual errors or overlooked comparable sales in a completed appraisal. It is not a general request to 'raise the value' — it must be based on objective, documented points.

Generally no — lender-ordered appraisals are typically subject to appraiser independence requirements, meaning borrowers and real estate agents are usually directed to work through the lender's ROV process rather than contacting the appraiser directly.

No. A second independent appraisal reflects the same market evidence and professional judgment standards as the first — its purpose is to provide an additional, defensible opinion of value, not to produce a predetermined outcome.

They're unrelated processes. A refinance or purchase appraisal dispute (ROV) is a lender-side process about a specific loan transaction. A property tax appeal is a separate county-level process disputing the assessed value used to calculate property taxes — see our Property Tax Appeal guide for that process.

Depending on the transaction, options can include renegotiating the purchase price, increasing a down payment to meet loan-to-value requirements, or ordering a new appraisal (sometimes with a different lender). An independent appraiser or your loan officer can help you understand which options fit your situation.

Continue Learning

Next RecommendedUsing an Appraisal to Remove PMIRelated TopicAppraisal vs. Automated Home Value EstimateExplore Home ValuePre-Listing Appraisal Guide

This information is provided for general educational purposes and is not financial or legal advice. Reconsideration-of-value processes and requirements vary by lender — confirm the exact steps with your loan officer.

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