New Mexico real estate appraisers are one of the many stakeholders in a real estate deal. Whether you’re selling your home in NM, buying a house or refinancing your mortgage on an existing property, getting your New Mexico home appraised is a must. With that aim, you may search for ‘home appraisers in New Mexico’, and your search ends here.
Residential Real Estate Appraiser, New Mexico
Fully Automated Home Appraisals
About: Based in Seattle, Washington, Aloft Appraisal is a residential real estate valuation company. Aloft Seattle was founded in 2021 with the aim of making the real estate appraisal process streamlined. The appraisal company is currently present in 8 states across the US and plans to expand its business to nine more states in the coming years.
Appraisal Reports: Aloft Real Estate Appraisal company offers different types of appraisal services depending upon their clients’ requirements.
Full Appraisal Report (Avg. $650): This is a comprehensive appraisal report that is created after a thorough inspection of the interiors and exteriors of the property. It contains pictures and video, living space calculation, and details about the quality and condition of the property. It may cost anywhere between $500-$1,500.
Exterior Only Appraisal Report (Avg. $550): This report contains a review of only the exterior of the property. It does not warrant a full inspection of the house. However, comparable sales records, tax records, MLS listings, and environmental conditions are taken into consideration for properly evaluating the property. The cost for this report ranges from $500 to $1,500.
Desktop Appraisal Report (Avg. $350): This report does not require an onsite examination of the property. However, the appraiser forms an opinion of the home value based on comprehensive research about the sales comps, public records, MLS listings, photos, etc. With Aloft company, this report may cost anywhere between $250 to $550.
CMA/BPO (Avg. $99): The Comparative Market Analysis/Broker Price Opinion is a report that contains the valuation of the property based on comparable homes available for sale on the market. This report does not require an on-site inspection of the property. Depending upon the type of property, the charges for this report may be between $99-$149.
Our Take: We recommend Aloft Appraisals as it offers a combination cutting-edge tech and highly experienced home appraisers. With their goal to fully automate the appraisal process, the company has already captured major markets across the country.
- Offers high-quality home appraisals through its in-house team of certified appraisers
- Provides streamlined, transparent, and completely automated appraisals
- Delivers appraisals within 5-7 business days with the help of highly advanced tech platform
- Allows for easy scheduling through its user-friendly website and provides free quotations
Aloft Appraisal Reviews: The company has a rating of 4.3 out of 5.0 on Google.
Aloft Appraisal, Seattle WA currently offers its services in Arizona, California, Colorado, Idaho, Florida, Oregon, Texas, and Washington.
New Mexico Commercial Real Estate Appraiser
Specialty Evaluation Company
Elliott & Co
About: Elliott and Company is a well-established appraisal company with more than 30 years of experience in the field. The company has its roots in North Carolina and has a vast network over all 50 states. They have a good track record of delivery consistent, high-quality valuations. All reports are reviewed by a state-certified appraiser at a local level.
Appraisal Reports: Elliott & Co offers residential and commercial appraisal reports. There are different types of appraisals available to property owners, mortgage lenders, and investors.
Full Appraisal Report (Avg. $550): A full appraisal report involves a comprehensive visual assessment of the property. The appraiser will walk through the property, examine key points, and prepare a full report with details about the condition and value of the property.
Exterior Only Appraisal Report (Avg. $250): The exterior appraisal involves a visual inspection of the exterior of the property. It also includes a comparative analysis of properties recently sold in the area recently, local MLS listings, and environmental conditions. This report can cost anywhere between $200 and $300.
Desktop Appraisal Report (Min. $125): Desktop appraisal involves looking at sale comps, public records, property photographs, MLS listings, and related information. Appraisers are able to arrive at an estimated value for the property. There is no on-site evaluation but this report does provide a fair valuation of a property. In general, such a report may cost anywhere between $125 to $250.
CMA/BPO (Avg. $99): The Comparative Market Analysis/Broker Price Opinion is a basic report that provides the value of a property based on the prices of homes that are up for sale in the same area. The appraiser won’t conduct an on-site inspection or look into public records. This report can cost anywhere between $99 and $149.
Our Take: Elliot & Co has a strong background and presence in the industry. They have a vast team of state-certified professionals and use the latest technology to deliver appraisals quickly. They offer custom appraisal solutions based on the client’s unique requirements.
- Comprehensive USPAP-compliant appraisal reports
- All appraisals reviewed by a state-certified appraiser
- Large team of experienced, qualified, and locally certified appraisers
- Custom solutions for all evaluation needs
- A wide range of residential and commercial appraisal services
No reviews could be found for Elliott & Co. on any credible review websites.
Elliott has a nationwide presence and operates in all states.
What is a NM Real Estate Appraiser?
A New Mexico real estate appraiser is also known as a home appraiser or a New Mexico property appraiser. They determine the fair market value of a property based on on-site visit, analysis of the sales comparables of similar properties in the neighborhood, recent market trends, and any other factor that may positively or negatively influence the value of the property.
How Much Does a New Mexico Home Appraisal Cost?
New Mexico home appraisals cost anywhere between $325–$425 for single-family units. However, the appraising cost for multi-family homes ranges from $600-$1,500. On the other hand, commercial appraisals in New Mexico may cost anywhere between $1,500-$10,000.
» Home Appraisal Cost New Mexico: Click to know more about home appraisal costs in New Mexico.
Who Orders the Home Appraisal in New Mexico?
If you’re selling your house in New Mexico, you can hire a property appraiser in New Mexico. This will help you to find out the valuation of your house. This will help you in pricing your home competitively.
If you are buying a house with a mortgage, your mortgage lender will order the appraisal. This is to find out whether the property is worth the loan amount that will be disbursed.
If you’re buying a home in New Mexico without a mortgage, you will have to hire a home value appraiser. This will ensure that you don’t overpay for the property.
» Best Time to Buy a Home in New Mexico: Check whether this is the right time to buy a house before you call an appraiser.
Who Pays for NM Home Appraisers?
The home appraiser cost in New Mexico is paid by party that hires the real estate appraiser.
When Buying a House, Who Pays for the Appraisal?
When buying a house in New Mexico, the buyer pays for the appraisal. The bank or the mortgage lender will hire the appraiser. However, the appraisal cost will be borne by the buyer.
If it’s a purchase without a mortgage, the buyer may order the home valuation in New Mexico. This may be done to find out whether the market value of the property matches the seller’s asking price. Even in this case, the New Mexico appraiser fee will be borne by the buyer.
Who Pays for Appraisal on New Construction?
The buyer pays for appraisal on new construction. If the buyer is trying to finance their purchase, mortgage lenders in New Mexico will require proof of the property’s true worth. This way the lender will be able to compare appraised value with the sale price set by the builder.
Even for a purchase not involving mortgage, the buyer may hire an appraiser to ensure they are not being overcharged by the builder. The buyer will have to bear the New Mexico property appraiser cost in this case as well.
Who Pays for Appraisal When Selling a House in New Mexico?
When selling a house in New Mexico, the seller will pay for the real estate appraisal. This is only if the seller orders the house valuation to set a competitive listing price for their property.
Similarly, if the buyer or mortgage lender order the appraisal, the buyer pays the appraiser’s fee.
Who Pays for Home Appraisal in Divorce?
In a divorce, the home appraisal cost in New Mexico is split equally between the spouses. However, if the home is being bought out by one of the spouses, then they are liable to pay the house appraiser cost.
Who Pays for the Appraisal on a Home Equity Loan?
The borrower pays for the appraisal on a home equity loan. The lender may order house appraisal through an Appraisal Management Company. This will be done to find out the amount of risk involved in approving the loan.
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- House Market New Mexico: Will the market be in the favor of home buyers and sellers? Click to find out the market conditions in New Mexico.
- Selling Property in New Mexico Without a Realtor: Want to sell a property without an agent? Read our handy guide to get a clear idea.
- New Mexico Cash Home Buyers: Many companies buy houses for cash. If you wish to sell a house quickly and get cash, we have some options to recommend.
- New Mexico Title Insurance: Getting title insurance is an important aspect of the closing process as well. We explain the process in detail.
- Closing Costs New Mexico: How much are closing costs in New Mexico? Read our blog to know more.
Resources for Buyers
- How Much Are Closing Costs in NM for Buyer: Know your final expenses as a home buyer and complete the real estate transaction smoothly!
- Buyer Closing Cost Calculator New Mexico: Wondering how much you pay at the close as a home buyer? Click to find out!
- New Mexico Home Inspections: Find out why a home inspection is important before you purchase the house.
- Home Inspection Prices in New Mexico: The average home inspection cost in NM is $430. Read further to know more details.
- How to Flip Houses in New Mexico: Do you want to purchase a property to flip it? We have a guide to help you with the process.
Resources for Sellers
- Selling a House As Is in New Mexico: Want to sell your house as is, without spending money on repairs? Look at our post on how to do that before making a move.
- Flat Fee MLS Listing in New Mexico: Do you want to sell a property and wish to save money on agent commissions? We recommend looking at a Flat Fee MLS listing service.
- Sellers Disclosure New Mexico: Want to ace your New Mexico disclosure process? Click to know how you can do it.
- How Much Are Seller Closing Costs in New Mexico: Take a look at all of the closing costs you need to consider when you sell a house.
- Seller Closing Costs Calculator New Mexico: Want to determine the overall seller closing costs in New Mexico? Use our handy calculator for it.
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