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Why Homeowners Choose E1R – Appraisals
There are many reasons for a homeowner to get an appraisal on their property. Whether you plan to sell, have legal reasons, or even tax reasons, E1R – Appraisals is here to help you.
1. Determine Market Value for Sale
Whether selling your home without a Realtor (known as For Sale By Owner or FSBO) or using a Realtor, getting an appraisal before putting your property on the market can be valuable. An appraisal will provide you with an accurate value of your property that will help you set your listing price or help when you interview Realtors to list your home.
2. Financial Planning / Estate
Real estate is often a significant portion of an estate. When creating your financial plan or estate, a licensed appraiser will play an important role in providing you with an accurate valuation for the property. E1R – Appraisals can perform an appraisal on your property or multiple properties to help with your financial plan.
3. Divorce Valuation
Divorce is difficult. Typically, the most valuable asset contested within divorce is the primary home or other properties the couple owns together. Getting a professional and accurate appraisal during a divorce is important for understanding your combined assets.
4. Probate Appraisals
Going through probate is often stressful but a very important job. Real estate is often a significant portion of an estate. When settling an estate, an accurate valuation for the property from a licensed residential appraiser is critical. You can count on E1R – Appraisals to act quickly and with as much respect to the feelings of everyone involved.
5. Challenge Property Tax Assessment
Do you know how the tax assessor determines the value of your property? They don't have the time or resources to appraise every property in their district accurately, so they are occasionally incorrect. If you feel your property taxes are too high, you have the legal right to challenge your assessment. E1R – Appraisals will be the necessary documentation to contest your property's assessment.
6. Home Insurance Valuation
Ensuring that your property is insured for the correct amount is important so that you don't overpay and also so that you are compensated if you need to make a claim. Your insurance may not accurately reflect an increase in your property valuation from improvements you have made or to keep up with market conditions. An appraisal from E1R – Most insurance companies accept appraisals.
Why Lenders Choose E1R – Appraisals
Lenders and AMCs trust the accuracy of appraisals from E1R – Appraisals and appreciate the ease of working with us. We value our lender partners and provide the highest level of service for all your appraisal needs.
E1R – Appraisals works with New Mexico lenders, lenders from other states, and registered appraisal management companies.
1. 1st and 2nd Mortgage Appraisals
Mortgage appraisals are generally the most common type of appraisal we provide. Providing an accurate valuation for a property loan is important for the lender. But it is also crucial for the family to purchase the home of their dreams or even the investor whose analysis relies on the accuracy of their appraisal. Accuracy is our top priority.
2. Refinancing Valuations
Are your clients interested in refinancing? We take the same care with your refinancing appraisals as we do for your mortgage appraisal. Market conditions change, so even if your borrower wants to refinance for a lower rate or to switch from an ARM to a conventional mortgage, we thoroughly research the market and the current condition of their property. If your client wants a cash-out to refinance, your appraisal from E1R – Appraisals will ensure they are borrowing within the limits of their property value.
3. Home Equity Lines of Credit
A home equity line of credit (HELOC) appraisal differs from a mortgage appraisal. Your appraisal from E1R – Appraisals will ensure that the home equity line of credit is based on the accurate value of your client's property.
4. Valuation for Portfolio of Loans
Many lenders have a portfolio of loans. The value of the properties in the portfolio changes over time, and E1R – Appraisals works with lenders to provide worth to part of or the entire portfolio of loans.
5. Experienced with FNMA, FHLMC, and FHA
Lenders need an appraiser with experience working with more than just portfolio lenders. E1R – Appraisals is experienced working with Federal National Mortgage Association (FNMA or Fannie Mae), Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac), and Federal Housing Administration (FHA). Experience matters.
6. Alternative Product and Services Available
You may need more than traditional appraisal services from an appraiser, and our expertise may be helpful in several ways. If you have any questions, don't hesitate to contact us to learn how we can serve your needs.
Why Real Estate Agents Choose E1R – Appraisals
Sometimes, even the experts need a little help. Comparable sales may be difficult to find, or the agent may want to ascertain any potential appraisal issues prior to contract. Or, maybe they just need a floor plan. Whatever your needs are, E1R – Appraisals is here to help.
1. Cash Sale Valuation for Realtors
Many real estate transactions are for cash directly between buyer and seller. Although an appraisal is not necessary for loan purposes, it is for the appraisal stipulation in the contract. E1R – Appraisals works with many Realtors and buyers for these cash sale transactions.
2. Determine Market Value for Sale
Whether selling your home without a Realtor (known as For Sale By Owner or FSBO) or using a Realtor, getting an appraisal before putting your property on the market can be valuable. An appraisal will provide you with an accurate value of your property that will help you set your listing price or help when you interview Realtors to list your home.
Other Reasons to Choose E1R – Appraisals
Although the most traditional property appraisal happens when you are getting a mortgage, there are many other reasons you may need an appraisal. A professional appraisal is accepted as an accurate evaluation of a property's value to ensure that you are compensated fairly in some of life's situations.
1. Investment Properties / Portfolio
The purchase price is a significant part of an investor's analysis of a potential investment property. An appraisal is a valuable tool to ensure that the offer price is of fair value so that an appropriate return can be made on the investment. Whether the investor is looking to flip, rent, or use it as a second property, E1R – Appraisals can help with your investment analysis.
2. Property Inspections
Appraisals and inspections are often confused by home buyers. Although an inspection is not an official part of the appraisal service, any defects we find during an appraisal can greatly affect the property's value. E1R – Appraisals has the expertise to perform inspections and provide an inspection as a standalone service for you.
3. Floor Plans and Measurements
Homeowners may need a floor plan and measurement of their home when incorrect square footage is listed with the tax assessor's office or when they plan to sell their home. E1R – Appraisals has the expertise to create a scale drawing of your home's floor plan with accurate measurements.
4. Appraisal Review
Do you need a veteran appraiser to double-check your appraisal for precision or provide a second opinion? We can provide different reviews, ranging from a quick, professional review using our data sources to a more detailed field review that includes visiting the subject property. Even though banks typically request this, a property owner may need to exercise this service if you suspect mortgage fraud related to your property.
5. Appraisal Management Company (AMC)
We work directly with Appraisal Management Companies and with lenders who use AMCs. We provide AMCs with the same level of high-quality appraisal service that E1R – Appraisals takes pride in.