Accurate appraisals play a crucial role in maintaining the integrity of mortgage lending, the housing industry, and our communities. Inaccuracies in valuation can have far-reaching consequences, impacting affordability, property sales, refinancing opportunities, and even the risk of foreclosure. We understand the importance of fair and precise appraisals, which is why BankSouth Mortgage is committed to helping our customers challenge any appraisal they believe to be inaccurate through a Reconsideration of Value (ROV) request.
Why It Matters
Overvaluation and undervaluation alike pose significant challenges for homebuyers and homeowners. When a property is overvalued, it can limit affordability, complicate the selling process, and increase the risk of financial distress. On the other hand, undervaluation can prevent homeowners from accessing their accumulated equity by hindering their ability to sell or obtain a home equity loan. Undervaluation can also limit a buyer’s ability to purchase the home they have chosen. Ultimately, both scenarios impede individuals, families, and neighborhoods from building wealth through homeownership.
Understanding the ROV Process
At BankSouth Mortgage, we believe in providing our customers with clear and accessible information on how to address concerns regarding the accuracy of their appraisals. The Reconsideration of Value (ROV) process ensures that every applicant has a chance to present their case and explain why they believe a valuation is inaccurate.
How It Works
If you believe that your home valuation is inaccurate, you can request a Reconsideration of Value by following a straightforward process. We encourage you to point out any factual errors, omissions, inadequate comparable properties, or evidence that suggests the appraisal was influenced by prohibited bias. Our aim is to provide you with an opportunity to present your concerns and provide supporting documentation to back up each issue raised.
Requesting the ROV at BankSouth Mortgage
Accessible to All
BankSouth Mortgage wants to emphasize that the ROV process is available and accessible to all applicants. We are committed to fairness and transparency, ensuring that every customer has the chance to challenge an appraisal they believe to be flawed. We understand the emotional and financial impact of inaccurate valuations, and we want to assist you in obtaining an accurate assessment of your property’s value.
Appraisal Accuracy is Important to Us
Accurate appraisals are fundamental to maintaining a thriving housing market and ensuring the well-being of homeowners and communities. At BankSouth Mortgage, we are dedicated to empowering our customers and providing them with the tools and resources they need to challenge inaccurate appraisals through the Reconsideration of Value process. If you believe your valuation is inaccurate, we encourage you to reach out to us, so we can work together to address your concerns and ensure a fair assessment of your property’s value. Your satisfaction is our priority, and we are here to support you every step of the way.