You found the home, wrote a strong offer, and now the VA appraisal is on the calendar. If you’re buying in Raeford with VA financing, the word “Tidewater” can either calm your nerves or raise new questions. You deserve a clear, practical guide that shows exactly how the VA appraisal works and what to do if value comes in low. In this guide, you’ll learn the steps, timelines, and Raeford-specific strategies that protect your purchase and keep you moving toward closing. Let’s dive in.
VA appraisal basics in plain English
A VA appraisal is an independent review of the property by a licensed appraiser on the VA panel. The goal is to determine a fair market value and confirm the property meets VA standards. After the review, the appraiser issues a report that supports a VA “reasonable value,” which is documented as a Notice of Value (NOV).
The NOV is what the VA will back for the loan, not your contract price. If the appraisal supports your price, you proceed as planned. If value is lower than your contract, you have options to fix the gap, including a review process called Tidewater or a formal Reconsideration of Value (ROV).
Tidewater and ROV explained
Tidewater is the industry term for the process your lender opens when a VA appraisal does not support the contract price. It allows your team to present new, relevant evidence to the appraiser or VA reviewer. The goal is to correct errors and show better comparable sales so the value can be adjusted if the market data supports it.
Your lender initiates Tidewater or an ROV on your behalf. You and your agent help collect the evidence. Strong submissions focus on facts: recent comparable closings, accurate square footage and lot size, builder spec sheets and upgrade invoices, MLS and county records, and clear photos that show the home’s true condition and features.
Here is what the review can do. It can prompt the appraiser to revise the report or send it to a VA reviewer for reconsideration. It cannot force an increase if the data is not there, and it cannot change market conditions. The process adds time to closing. In practice, plan for a few days to several weeks, with 1 to 3 weeks being common depending on complexity and workload.
How Raeford comps shape value
Raeford sits near Fort Liberty, so military moves can drive steady demand, especially for three- to four-bedroom homes. Appraisers look for the most comparable closed sales in the last 3 to 6 months. The best comps are in the same subdivision or close by, with similar age, square footage, lot type, and condition.
In Raeford, small location differences can matter. A property across a major corridor or with a very different lot setup may not be a true comp. Unique features like outbuildings, larger acreage, or floodplain considerations can also complicate the search for apples-to-apples sales. Your agent should help you source the closest matches and explain why they reflect the same buyer pool.
Seller concessions are another factor. Typical seller-paid closing costs or incentives do not raise market value. Appraisers treat most incentives as concessions that reduce the effective sale price. That means concessions can help you close the gap by reducing the seller’s net proceeds, but they do not, by themselves, justify a higher valuation.
New construction vs. resale in Raeford
New construction playbook
For new builds, appraisers lean on recent closings from the same builder or nearby subdivisions. If you paid for upgrades or a lot premium, you need documents that prove it. Provide a signed builder spec sheet, upgrade invoices, and dated price lists that show how the home differs from a base model. Clear, labeled photos of finishes and completed work help too.
If the appraiser used distant or older comparables, ask your lender to include newer, close-in sales from the same phase or sister communities. Make sure your package explains why those sales are more similar in size, features, and buyer demand.
Resale playbook
For resale homes, condition and accurate records make a difference. Gather permits and receipts for renovations, from roof and HVAC to kitchens and baths. If the appraiser missed finished square footage or counted a bedroom incorrectly, point it out with clear documents. Fresh MLS comps from the past few months that match age, size, and lot type carry the most weight.
If a comp includes major concessions, note that in your cover letter so the reviewer can consider the effective price. Also flag any sales the appraiser used that cross into very different neighborhoods or property types. Offer better local alternatives and explain your reasoning.
What to do after a low appraisal
First, read the appraisal line by line. Check the bedroom and bathroom count, square footage, garage or carport, finished attic or bonus space, porch or deck details, and lot size. Confirm flood zone status if shown. Small factual corrections are often the fastest path to a successful ROV.
Second, call your lender right away. Ask for their Tidewater or ROV checklist and deadlines. Each lender has internal standards, and you want to submit a complete package on the first try. Keep your agent in the loop so they can pull the right comps and documents.
Third, gather your evidence. For new construction, secure builder pricing, option sheets, invoices, and a list of recent closings in the subdivision. For resale, pull the most similar MLS sales and photos, plus permits and receipts for improvements. If there is an error in the report, highlight the page and provide a matching record from MLS or county data.
Your ROV package checklist
- Signed purchase contract and all addenda showing price and concessions
- Copy of the appraisal with a list of specific errors or concerns
- Three to five strong comparable closed sales with MLS printouts and photos
- County tax records that confirm lot size, heated square footage, and year built
- Photos of your property and the comps to show true condition and features
- For new construction: builder spec sheet, upgrade invoices, lot premium details, and model sales
- A brief cover letter that ties each piece of evidence to a correction or a better comp
Negotiation options if value does not change
- Ask the seller to reduce the price to the appraised value
- Request additional seller concessions, such as closing cost credits or a rate buy-down
- Bring cash to cover the difference between the NOV and contract price
- Explore limited seller financing for the portion above the NOV, if both parties agree
- Cancel under your appraisal contingency if allowed by your contract
Communication and timing tips
Let your lender and agent know if you have a hard PCS timeline. That helps the team prioritize and set realistic expectations. Ask for written confirmation when your ROV package is submitted, and request updates on review status. Plan for extra processing time. Locally, the timeline depends on complexity and VA workload, so build a cushion into your closing plan.
Local resources to pull strong evidence
Where to find reliable records
- Hoke County Register of Deeds: Use recorded deeds for verified sale details when available.
- Hoke County Tax Assessor: Pull tax cards for lot size, building data, and property characteristics.
- Local MLS: Work with your agent to access the most recent closed sales and comparable reports.
These sources help you validate square footage, lot size, year built, and real sale outcomes. Up-to-date MLS comps from the last 90 to 180 days are especially useful in Raeford’s mix of new subdivisions, established neighborhoods, and rural parcels.
VA-experienced partners matter
A VA-savvy lender will know how to structure Tidewater timelines and document requests. A local agent who understands Fort Liberty demand and Raeford’s neighborhood patterns can pinpoint the right comps faster. Together, they can build a cleaner submission and keep your deal on track.
Smart prep before the appraisal
- Review comps with your agent before you schedule the appraisal so you know what the data supports.
- Discuss concessions early. If you need seller credits to make the numbers work, be aware of how they affect the effective price.
- For new builds, organize your spec sheet, upgrade invoices, and lot premium notes the moment you go under contract.
- If your move is tied to PCS orders, share your timing with your lender and agent so they can plan for possible ROV delays.
Policies and lender procedures can evolve. Use current MLS data and county records for any comparison you cite. When in doubt, ask your lender and agent to confirm the latest VA requirements before you submit.
Ready for a hands-on partner who knows Raeford, Fort Liberty timelines, and the VA process? Let’s talk through your strategy and build a clear plan from appraisal to closing. Start your move with a friendly consult from Charlize Vega.
FAQs
What is a VA Notice of Value in the appraisal process?
- The Notice of Value (NOV) is the VA’s documented reasonable value for the property, and it sets the maximum amount the VA will back for your loan, not your contract price.
How does Tidewater work for Raeford VA loans?
- Your lender initiates Tidewater after a low appraisal, collects better comps and factual corrections, and submits them so the appraiser or VA reviewer can reconsider the value.
Do seller concessions affect a VA appraisal value in Raeford?
- Typical concessions, like closing cost credits or incentives, do not raise market value; appraisers usually treat them as reducing the effective sale price.
What if my ROV does not increase the appraised value?
- You can renegotiate price, request more concessions, bring cash to cover the gap, explore partial seller financing, or cancel under your appraisal contingency if allowed.
How long does a Tidewater or ROV review usually take?
- Timelines vary by case and workload, but plan for a few days to several weeks, with 1 to 3 weeks being common in practice.
What documents help with a new construction ROV in Raeford?
- Provide builder spec sheets, upgrade invoices, lot premium details, and close-in new-home comps from the same subdivision, plus photos that show finishes and condition.
