Webb22 nov. 2024 · Appraisal is ordered by the bank. Appraiser calls to schedule the appraisal (1-7 days later). Appraiser visits the home (1-7 days later). Appraiser submits the report (1-7 days later). Review process is complete and appraisal report is submitted to the lender (1-7 days later). WebbThe Tidewater Initiative started in 2003 and was last updated in a VA Circular in July 2024. If the appraisal comes back short, the Tidewater process allows the appraiser to review …
Anyone have any experience with Tidewater on a VA loan?
WebbVA Appraisal officially came back under appraisal. What are my options? We like the property, area etc. but are we OK to walk away due to the Tidewater condition, sellers dishonesty about the sq footage, and conditions noted by the inspection, or does the previous appraisal gap coverage have major bearing. Webb28 apr. 2024 · If a VA appraisal comes in low, a reconsideration of value (ROV) could be the best option. An ROV is when the VA reevaluates how much the home is actually worth. Depending on how it goes, it could completely change the VA appraisal. One way to get an ROV is to find better comps. “Comps” is short for “comparable homes” or “comparable ... is a lentil a vegetable
What To Do When You Receive A Low Appraisal Quicken Loans
Webb8 jan. 2024 · The VA has a unique set of protocols, known as the Tidewater Initiative, that a VA appraiser must follow when he or she expects the appraised value of a property is going to be lower than its contract price.. This program, often known simply as “Tidewater,” initiated in—you guessed it—the Tidewater area of Virginia (i.e., the Norfolk, Chesapeake, … WebbMarket data requested during appraisal process “Tidewater” procedure: • If it appears that value will be below the sales price, appraiser will ... • Appraisers may place the repair inspection report on: - Fannie Mae Form 1004D –Freddie Mac Form 442, Part B (Part A is not acceptable for VA use), or WebbToday Courtney talks about the Tidewater Initiative and what it means for buyers and sellers involved with VA loans. She also gives 3 tips for overcoming a t... isal english school