FHA/HUD

Our staff is FHA/ HUD certified approved appraisers.

Foreclosure/REO/Asset Recovery
We at SumSource Appraisal Services have been actively engaged in the Foreclosure/REO/Asset Recovery market since the mid 90’s. Our staffs’ unique background in the real estate industry provides our clients the professional analysis and understanding needed to provide a comprehensive report.


Residential Appraisals
SumSource Appraisal Services offers comprehensive residential appraisals of co-op and condominium apartments and single and multi-family homes for mortgage, tax, and other purposes. We provide fast and professional form and narrative reports, field and desk reviews and other products designed to meet specific needs of lenders, developers, owners, and attorneys. To round out its residential appraisal service offering, our group offers related services including consulting, specialized legal services, field and desk reviews, and comparative and recent sales data and analyses.

Commercial Appraisals
Our staff is composed of highly credentialed appraisers with more than 25 years experience in the Real Estate Industry.

Asset valuation for sale or purchase
Asset Valuation requires experience and expertise, which is why so many companies look to SumSource Appraisal Services for their asset valuation appraisal services to help them make better and more informed decisions.

Mortgage origination
The mortgage process includes all steps taken by a lender to attract and qualify a borrower, process the mortgage loan, and place it on the lenders books. As part of that process, SumSource Appraisal Services can provide fast appraisal services.

PMI removal
PMI Insurance (private mortgage insurance) is a cost added to the monthly payment of many mortgage loans. You may be able to eliminate this cost based on the equity in your home and reduce your monthly payment.

Assessment Appeal Services
There are as many different procedures for appealing assessments, as there are property-taxing districts, so it is important to work with experienced professionals. SumSource Appraisal Services will conduct an independent, third-party report based on our own evaluation.

Divorce Appraisals

First step in deciding, "Who gets the house?" is getting an accurate appraisal. SumSource Appraisal Services professional, high quality appraisals will stand up in court proceedings and under the most sensitive circumstances.

Date of Death Evaluations
There are many situations when you might need to know the value of a property on a specific date in the past, rather than a current date. This date is especial important for estate tax purposes or disposition of assets of a decedent, SumSource Appraisal Services can provide a "date of death" valuation.

Preconstruction and Land Appraisals
We prepare valuations to aid in selling or purchasing raw land and for construction loans and tax abatement purposes.

Specific examples:

421a Tax abatements - Land appraisals are required for owners of three- and four-family buildings who may qualify for tax abatements for up to 25 years if they have owned the property over two years.

Simple financing – Developers and investors need appraisals to get bank, lender, or equity financing to acquire or refinance.

Pre-acquisitions – Developers can learn the value of purchased land to help calculate the per-square-foot cost of building.

» Trust and estate matters
» Gift tax
» Relocation
» Foreclosure
» Bankruptcy
» Court testimony

 

SumSource Appraisal Services

Services provided