Reconsideration of Value - Comp photos

[Cob]

And when they do... all you are required to do is respond to the ROV. When the additional sales provided aren't comparable to the subject you just say that they aren't because they are located 40 miles away or they are 1,000 sqaure feet bigger or they sold seven years ago or it was already used in your appraisal repor or whatever. The best ROV managers within the Lender/AMC will look at the alternate data and won't even bother you if it's clearly not relevant. I know that... because managing ROVs used to be my job and that's how we did it.

Gee, THANKS for telling me how to reply to a ROV, I ALWAYS respond like you are saying, if you would have taken the time to read my entire post, you will see that the person who sent the ROV and questioned why I didn't use the comparable sale they were asking about had ALREADY explained ALL of the reason I didn't use it in their correspondence to me.

When I called, the person I spoke to explained to me that he was going to cancel the ROV request as the person who sent was newer and didn't know what they were doing. I did NOT respond to this ROV as it was so egregious, I called and spoke to someone and they cancelled it, instead of WASTING my time with a response, but thanks for feeling the need to lecture me on it, it's greatly appreciated.

 

[Tom D]

FHA

 

[Cob]

While FHA appraisal guidelines require photos of comparable sales, they do not mandate that these photos be taken at an angle to depict both the front and side of the property, as was previously the case.

Here's a more detailed breakdown:

• FHA Appraisal Requirements:
  FHA requires appraisers to take or provide photos of comparable sales, listings, pending sales, and rentals.
  
  
• Photos of Comparables:
  The appraisal report must include at least one clear photograph that shows the front of each comparable sale.
  
  
• No Angle Requirement:
  The FHA no longer mandates that comparable photos be taken at an angle to cover both the front and the side of the property, as was previously the case.

 

[shrubberyvaluation]

While FHA appraisal guidelines require photos of comparable sales, they do not mandate that these photos be taken at an angle to depict both the front and side of the property, as was previously the case.

Here's a more detailed breakdown:

• FHA Appraisal Requirements:
  FHA requires appraisers to take or provide photos of comparable sales, listings, pending sales, and rentals.
  
  
• Photos of Comparables:
  The appraisal report must include at least one clear photograph that shows the front of each comparable sale.
  
  
• No Angle Requirement:
  The FHA no longer mandates that comparable photos be taken at an angle to cover both the front and the side of the property, as was previously the case.

Yay on the last one.