ROV Rental - Kairos

Rental Reconsideration of Value (ROV): Value Appeal Form

For a variety of reasons, you may disagree with the appraiser’s value estimate. It is your right to ask the appraiser to reconsider the rental value!

1) The Dodd-Frank Act of 2010 requires that every appraiser is hired as a neutral third party contractor. The appraiser is not an employee of Kairos Appraisal Services.

2) The appraiser is an experienced State licensed appraiser, with competency in the area, and has written hundreds of appraisal reports in this market - if not thousands.

If this is NOT a rental property - Please Click Here

In adherence to the Dodd-Frank Act and Appraiser Independence Requirements (AIR), Kairos has designed this Rental Value Appeal Form to help our clients move swiftly through the process while maintaining compliance.

This data will be reviewed by our staff internally, and all reasonable requests will be presented to the appraiser.

RENTAL - Reconsideration of Value

Step 1 of 3

STEP ONE: Property, Contact, and Loan Information.

Is this an FHA Rental Loan?(Required)

*Value Appeals for FHA loans can only be submitted by the DE Underwriter.

Value Appeals for FHA LOANS may only be submitted by the DE Underwriter.

FHA Case Number(Required)

*FHA loan value appeals can only be submitted by the DE Underwriter.

DE Underwriter Name / Chums #(Required)

DE Underwriter Email Address(Required)

DE Underwriter Phone(Required)

Borrower Name(Required)

Please provide the borrower's First and Last Name.

Loan Number(Required)

Requestor(Required)

Requestor Phone(Required)

Requestor Email Address(Required)

Rental - Subject Property Address(Required)

Please click "NEXT" to provide a summary of why you would like to appeal the value of this appraisal.

STEP THREE: Please suggest up to five alternative comparable rental properties that are not listed in the original appraisal report.

ALTERNATIVE COMPARABLE RENTAL ONE

Please Consider This Comparable Rental - ONE

Please provide the full address: Street, City, State, Zip

ALT COMPARABLE RENTAL ONE - Proximity to Subject Property

TIP: Only suggest comps that are within the same proximity to the subject property as the furthest comparable that the appraiser used in the original report.

ALT COMPARABLE RENTAL ONE - Rental Amount

TIP: Do not suggest properties that have sold for less than your expected value.

ALT COMPARABLE RENTAL ONE - Lease Start Date

TIP: Only suggest comps that closed after the oldest sold comparable on the original appraisal report.

ALT COMPARABLE RENTAL ONE - Lease End Date

TIP: Only suggest comps that closed after the oldest sold comparable on the original appraisal report.

ALTERNATIVE COMPARABLE RENTAL TWO

Please Also Consider This Comparable Rental - TWO

Please provide the full address: Street, City, State, Zip

ALT COMPARABLE RENTAL TWO - Proximity to Subject Property

ALT COMPARABLE RENTAL TWO - Rental Amount

ALT COMPARABLE RENTAL TWO - Lease Start Date

ALT COMPARABLE RENTAL TWO - Lease End Date

ALTERNATIVE COMPARABLE RENTAL THREE

Please Also Consider This Comparable Rental - THREE

Please provide the full address: Street, City, State, Zip

ALT COMPARABLE RENTAL THREE - Proximity to Subject Property

ALT COMPARABLE RENTAL THREE - Rental Amount

ALT COMPARABLE RENTAL THREE - Lease Start Date

ALT COMPARABLE RENTAL THREE - Lease End Date

ALTERNATIVE COMPARABLE RENTAL FOUR

Please Also Consider This Comparable Rental - FOUR

Please provide the full address: Street, City, State, Zip

ALT COMPARABLE RENTAL FOUR - Proximity to Subject Property

ALT COMPARABLE RENTAL FOUR - Rental Amount

ALT COMPARABLE RENTAL FOUR - Lease Start Date

ALT COMPARABLE RENTAL FOUR - Lease End Date

ALTERNATIVE COMPARABLE RENTAL FIVE

Please Also Consider This Comparable Rental - FIVE

Please provide the full address: Street, City, State, Zip

ALT COMPARABLE RENTAL FIVE - Proximity to Subject Property

ALT COMPARABLE RENTAL FIVE - Rental Amount

ALT COMPARABLE RENTAL FIVE - Lease Start Date

ALT COMPARABLE RENTAL FIVE - Lease End Date

Acceptable documentation for a reconsideration of value includes:

1. Full MLS printouts of no more than five additional closed comparable sales, from the subject market area.

2. A legible copy of a different appraisal report on the subject property, including color photos of the subject and comparable sales, completed within the past four months.

3. Using this form to identify significant errors in the original appraisal report regarding the subject or comparables, which may have an effect on the value and/or marketability.

Unacceptable documentation for a reconsideration of value includes:

1. Inclusion of personal property such as above ground pools
2. Sales that require excess location, quality, appeal, or condition adjustments
3. Listings or assessor’s data
4. Lists of sales with limited information similar to realtor market surveys
5. SiteX and other nonverifiable data
6. Any other item that does not contain enough detail to determine the validity of a likely comparable after reviewing the information required, if the additional data provided appears to potentially warrant an increase/decrease in value for the subject.

If the provided data supports a potential change in value, our team will create a detailed breakdown of the information and present all supporting documents to the appraiser. The Appraisal Review Department will contact the appraiser to request that he/she review the additional data for a reconsideration of value.

After reviewing the information provided, if it does not appear to warrant a value increase/decrease, the Appraisal Review Department will respond with the reasons for stopping the value appeal process prior to submitting the data to the original appraiser, the information will not be sent to the original appraiser, and the value appeal will be closed.