Appraisal types
Home Appraisals
Get a fair, accurate value for your property from appraisal experts who know the residential market.
$2.4B of our total appraised value are residential
Certified home appraisals from local appraisers who know the neighborhoods of Missouri, Illinois, and Iowa.
Home Appraisals in Missouri, Illinois, and Iowa
Spurgeon Appraisals provides home appraisals across Missouri, Illinois, and Iowa.
- Missouri home appraisals: Spurgeon Appraisals covers 17 counties in Missouri.
- Illinois home appraisals: Spurgeon Appraisals covers 3 counties in Illinois.
- Iowa home appraisals: Spurgeon Appraisals covers 2 counties in Iowa.
WHAT WE cover
Types of residential properties appraised
FHA-Approved
Single Family
Multifamily
Custom-Built
Common reasons
Why Clients get a home appraisal
Buying & Selling
Loans & Financing
Divorce
Estate Planning & Taxes
Gift Planning
Litigation & Expert Testimony
Buying & Selling
When buying and selling a property, whether it be a piece of farm land, a home, or a commercial property, an appraisal is necessary. Appraisals are important to both the buyer and the seller of any piece of property.
Buyers
As a buyer, an appraisal can help you understand what is included in your property and whether the seller’s asking price is accurate, too low, or even too high.
Banks and other financial institutions often require an appraisal prior to approving a loan for the purchase of property, to help them decide whether the property’s value corresponds to the loan amount.
Sellers
Appraisals are a must for the seller as well. Having as much knowledge about your property as possible is helpful when deciding on the asking price for your home, farm, property, or commercial building.
Having an accurate appraisal can also assist you when a buyer starts the negotiation process. You will be able to determine what bargaining range is comfortable for you. No seller wants to find out after they sell their property that they could have gotten more.
Also, placing too much value on your property (listing above market value) can result in fewer prospective buyers, longer marketing time, and can lead to problems in the loan approval process.
Loans & Financing
Mortgage lenders, banks, and other financial companies prefer an up-to-date real-estate appraisal before approving any loan to purchase. It is a safety net for the lender to make sure that, if the loan goes into foreclosure, they can sell the property for the right amount to cover the loan.
A financial institution will not approve a property loan if the loan amount is higher than the value of the home, land, farm, or commercial building.
If you are in the market to buy, know that you will need an appraisal.
Give us a call today and we can answer any questions you may have. Your lender will most likely need to order the appraisal themselves, but you can still refer them to us.
We already service most of the lenders in our coverage area, so getting an appraisal for lending and financing should be easy for you.
Divorce
Property appraisals are required for many other reasons besides trying to acquire financing for a purchase. Anytime the value of a property is needed, an appraisal is needed.
Divorce is a perfect example.
During a divorce there may be marital property that needs to be divided or sold as part of the settlement. In order to know the value of the home, property, commercial building, farm, or whatever the property may be, hiring an appraiser to value the property is a must.
Having an accurate value of the property will be helpful for reaching a fair, unbiased agreement to divide assets.
Divorces often require assets to be sold and liquidated to split up finances. In some instances one party wants to keep the property, in which case the value of the property is needed to know what the remaining party needs to pay the exiting party in order to transfer the property ownership.
It is in the best interest of both parties to agree to an appraisal to ensure that a fair value is determined. Sometimes during these instances, sentimental value or other emotions can lead to higher values than the actual market value of the real estate.
Having a recent appraisal of the property can help ensure the fair and proper division of assets as determined by a judge. Judges can also compare a current appraisal to the appraisal at the time of purchase to determine renovation costs and other expenses that may arise during the divorce negotiations.
Estate Planning & Taxes
An appraisal is crucial for estate planning as well as valuation for tax purposes. It is always best to have an accurate and up-to-date appraisal when any property is involved.
Having a current appraisal helps you keep better track of your financial assets rather than estimating from an outdated appraised value. Properties can often increase in value, and they can decrease just as easily.
Estate Planning
For estate planning, appraisals can help determine the values of assets. This knowledge is indispensable for heirs if properties and assets need to be gifted or divided after a death.
Keeping an up-to-date appraisal on file is also handy when determining the increase of property value as well as growth or loss margins. Being able to see steady growth or loss over time can help determine proper selling and buying values for good investment opportunities.
Estate Taxes
Appraisals are also helpful for estate tax purposes. Having an accurate appraisal can help in the case of a tax audit. Many privately owned businesses are required by the IRS to have an appraisal for determining values if claimed on tax returns.
Appraisal costs are often tax deductible, so check with your tax preparer to determine if that works in your situation.
Gift Planning
Is an Appraisal Needed?
It depends on what the gift is. If you plan on gifting any form of real estate, an appraisal is crucial.
Very similar to when selling a property, you will need an appraisal to accurately determine the value of the property you are gifting.
The Main Reason for an Appraisal
An appraisal is also needed for tax purposes in gifting real estate. It can be used as a charitable gift and can be tax-exempt so you can write it off your taxes owed. But in order to properly valuate the gift, an official appraisal is needed.
Who Should Complete the Appraisal?
Oftentimes it is beneficial to have your appraisal done by an independent appraisal service, such as Spurgeon Appraisals, that is not directly in business with either the party giving the gift or the charity receiving the gift. The appraiser can give an unbiased opinion of value.
Litigation & Expert Testimony
Many property owners feel that they do not need an appraiser for litigation and expert testimony. But most owners have only unsupported lay opinions which may not even be legally sufficient to support a favorable verdict.
That is why there is a recognized need for effective appraisal experts in judicial and other valuation controversies.
In the case of court determination of value, there is a real need for educated subjectivity, exercised in a scrupulously professional manner. “Expert witnesses” are the only witnesses that can provide a subjective, opinion-based testimony.
The use of an appraiser as an expert witness can provide you with validation and greater credibility in disputes involving real estate. An effective appraiser can make your case, but a poorly trained or unscrupulous appraiser can ruin your case before it begins.
CLIENT RESULTS
The most 5-star Google reviews from our clients
The staff are all friendly and easy to work with. They are always happy to help and to provide further explanation.
Michelle K.
★★★★★Wonderful company to do business with. Professional and completed job just as they stated.
Google ReviewThe appraiser was very thorough and respectable while visiting my property. When he entered my home, he took off his shoes without being asked. He was also the first appraiser I had ever meet that inspected every room and spent time talking with me to learn everything about my property. I really don’t know what else to say other than, wonderful.
Google ReviewI would give 5 stars. Excellent service with superb communication skills. This experience was stress free an important asset during these trying times.
Google ReviewVery responsive and quick turn around.
Google ReviewI was very pleased and impressed with the young man who did the appraisal. He was very thorough and fair. The quick return of the appraisal was very much appreciated. I will definitely refer this company to anyone who needs a home appraisal.
Google ReviewThey were very professional, efficient and responsive to our needs and questions.
Nial B.
★★★★★I was extremely apprehensive with the task of seeking an appraisal company for my home and farm. My past experience was rudeness and phone calls that were never returned. My experience with Spurgeon Appraisals was positive, professional and restored my faith in humanity. The staff was timely in contacting me by phone and by email. When I had questions, their explanations and answers were such that I understood the procedure. Documents were received on a timely basis, including the final reports. Mason was courteous and sincere and my entire experience with the appraisal was very positive. I would highly recommend Spurgeon Appraisals.
Google ReviewI was well informed as to the process, being 2k miles away. Appraisal was very detailed. Absolutely no surprises! Would highly recommend.
Google ReviewGreat communication and overall experience.
Google ReviewOptions
Turn times to fit your needs
Rush
1 Week
- Delivered within a week
- Priority scheduling
- Unbelievable? Let us show you.
Standard
2–3 Weeks
- Delivered within 3 weeks
- This is our typical delivery time
- Fits most lending & legal deadlines
Flexible
4–5 Weeks
- Delivered within 5 weeks
- Best price if you’re not in a rush
- Great for planning & estate work
FREQUENTLY ASKED QUESTIONS
Anything you need to know about HOME appraisals
A home appraisal is an unbiased, professional opinion of a property's value. It's typically required by lenders during a home purchase or refinance to ensure the loan amount matches the home's market value.
Your appraisal is completed by a certified, state-licensed residential appraiser with local market experience in Missouri, Illinois, and Iowa.
Appraisers review location, size, condition, recent comparable sales, improvements, market trends, and any factors that affect the property's use and value.
Yes. We provide estate, divorce, tax appeal, and trust appraisals with clear, defensible reports that hold up under review.
Yes. You'll receive a complete written appraisal report in PDF format, including the final opinion of value, supporting data, and methodology.
Yes. Our appraisals follow USPAP (Uniform Standards of Professional Appraisal Practice) and any applicable state and federal regulations.
The lender receives the report because they ordered it. You can request a copy directly from your lender; privacy rules prevent us from sharing it without their permission.
Pricing depends on the property type, location, complexity, and intended use. Fill out our quick bid form for an exact quote tailored to your home.
Most residential appraisals are completed within 14 to 18 days from intake to delivery. Rush options are available when timing is critical.
In most cases, yes. You're welcome to attend the inspection, though the appraiser will need unobstructed access to all areas of the home and site.
If you're buying, refinancing, settling an estate, or appealing taxes on a residential property, a residential appraisal is likely what you need. Contact us if you're unsure.
Yes. Lenders commonly order residential appraisals for refinancing. The lender is the client in these cases and will receive the report directly.
Make sure all areas of the home are accessible, provide any relevant documents or permits, and note any recent improvements or repairs that may affect value.
GET STARTED
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