How Do Appraisals Affect Selling a House in Spokane?
- Nick Briggs
- 24 hours ago
- 4 min read
When you're getting ready to sell your home in Spokane, one critical factor you can’t ignore is the appraisal. An appraisal impacts everything from your listing price to closing negotiations — so understanding how appraisal selling a house Spokane works can help you avoid surprises and maximize your return. I’m a Spokane real estate agent, and I’m writing this blog to help you navigate this part of the process with confidence, drawing on local market conditions and my experience here in Spokane.
What Is a Home Appraisal?
A home appraisal is a professional, unbiased estimate of the market value of your home. It’s typically ordered by a lender (if the buyer needs financing), but it’s also something sellers should understand deeply, because the appraised value often sets the upper limit of what the lender will approve. If your agreed sale price is above the appraisal, it can create an “appraisal gap,” which leads to negotiations, extra cash from the buyer, or potentially losing the deal.
Why Appraisals Matter When Selling a House in Spokane
Here are several ways the appraisal process can affect your home sale in Spokane:
Setting the Listing Price: If your asking price far exceeds recent similar home sales (aka “comps”) in Spokane, the appraisal is likely to come in lower. A realistic listing price informed by comps will help prevent buyer walkaways or renegotiations.
Meeting Lender Requirements: Most buyers use mortgage financing. Lenders require appraisals to justify loan amounts. If your home doesn’t appraise for the sale price, the lender may only finance up to the appraised value — leaving a gap.
Negotiating Power: A strong appraisal gives you peace of mind; a low one forces renegotiations. Either you might have to lower the price, ask the buyer to bring in additional funds, or sometimes do repairs or give concessions.
Timing of Sale: Appraisal happens after an accepted offer and usually after the buyer's inspection period. If it comes in low, it might delay closing while you sort out the difference, find additional comps, or consider an appeal.
Perception by Buyers: Buyers often assume the appraisal backs the value of what they’re paying. A low appraisal can shake confidence or become a talking point for them to push for lower price or more concessions.
What Factors Influence an Appraisal in Spokane
Understanding what drives appraised value helps you prepare. In Spokane, some of the key factors include:
Comparable recent sales (“comps”) in your neighborhood — how recently they sold, how similar the properties are.
Condition of your home — structural soundness, maintenance, upgrades, clean presentation.
Location factors — proximity to parks, amenities, and neighborhood desirability.
Market trends — how fast prices are changing, inventory levels, demand. Spokane has had shifts in home valuations driven by local economic factors.
Unique features or upgrades — updated kitchen, energy‐efficient systems, good landscaping, appealing curb appeal.
Tips to Avoid a Low Appraisal
Here are actionable steps to help ensure the appraisal supports your sale price when selling a house Spokane:
Do a Pre‐Appraisal or Comparative Market Analysis (CMA) before listing to get an idea of what appraisers will likely find.
Gather Documentation of any recent upgrades or improvements and present that to the appraiser.
Fix Minor Issues — leaks, cosmetic damage, peeling paint, overgrown landscaping can lower impressions.
Stage the Home — especially to highlight space, flow, light, and make sure everything is clean and clutter‐free.
Choose a Knowledgeable Agent (your Spokane real estate agent) who knows local comps, how appraisals work here, and can advise on pricing strategy to avoid appraisal problems.
What If the Appraisal Comes in Low?
Even with good preparation, appraisals sometimes come in below the sale price. Here’s what you can do:
Negotiate with the buyer — ask if they can increase down payment or cover the difference.
Submit additional comps or evidence to the lender/appraiser that may have been overlooked.
Reduce the sale price to the appraised value.
Ask for a second appraisal (if your contract or lender allows) — though this has cost and timing implications.
How I Help Sellers in Spokane with Appraisals
As a Spokane real estate agent, I help sellers by:
Providing accurate Comparative Market Analyses rooted in recent Spokane sales.
Advising on home improvements and staging that deliver the best return relative to appraisal impact.
Setting listing prices that are competitive yet realistic, to avoid appraisal gaps.
Helping compile documentation and making sure appraisers have full view of value‐adding features.
Conclusion
Understanding appraisal selling a house Spokane is vital to a successful home sale in our area. The appraisal touches pricing, negotiations, loan approval, timing, and ultimately, how much money you walk away with. If you want to ensure your home sells smoothly and for top dollar, partner with a real estate agent who knows the Spokane market inside out—you need someone like me to guide you through every step, protect your interests, and help you maximize your home’s value.
About Me
My name is Nick Briggs
Being born and raised in Spokane I grew up knowing what a special place this city is, and it was my dream to help others create a life in this wonderful community by guiding them in real estate. I spent many years in the customer service industry, the experience of listening and communication showed me how much I truly loved helping people. I attended Gonzaga University and earned a Bachelor’s Degree in Business Administration to add to my knowledge of guiding, managing, negotiating, and listening to individuals, helping them achieve their real estate goals.
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