Closing Costs When Buying a House in Spokane: What Buyers Pay
- Nick Briggs
- 1 day ago
- 4 min read
What Are Closing Costs and Why Spokane Buyers Need to Understand Them
If you're preparing to buy a home in Spokane, closing costs are one of the most essential—and often overlooked—expenses you’ll need to plan for. These are the fees and charges due at the end of a real estate transaction, and they can significantly affect your final budget. Whether you're buying your first home or your fifth, knowing what you'll pay helps prevent unwelcome surprises. As a Spokane real estate agent, I’m writing this blog to walk you through exactly what buyers pay and how to navigate these costs with confidence.
Average Closing Costs When Buying a House in Spokane in 2025
In general, buyers in Spokane can expect to pay between 2% and 5% of the home’s purchase price in closing costs. Based on Spokane’s average sold price of $474,000 in September 2025, this means buyers should budget approximately $9,480 to $23,700 in total closing fees.
These estimates include lender fees, escrow services, title insurance, recording fees, prepaid items like homeowners insurance, and more.
Full Breakdown of Buyer Closing Costs in Spokane
Here’s a step-by-step look at the most common closing costs Spokane homebuyers face:
1. Loan Origination Fee
This fee is charged by the lender for processing your mortgage. It typically ranges from 0.5% to 1% of the loan amount.
2. Appraisal Fee
Expect to pay around $500–$700 in Spokane for a home appraisal to confirm the property’s market value.
3. Credit Report Fee
Usually a small fee between $30–$60, this covers the cost of pulling your credit history.
4. Title Insurance (Owner's & Lender’s Policy)
Protects both the buyer and lender from disputes over property ownership. The combined cost is often $800–$2,000 depending on the home's value.
5. Escrow Fees
Escrow companies in Spokane typically charge $400–$1,200, and this cost is often split between buyer and seller.
6. Home Inspection Fee (optional, but highly recommended)
Expect to pay $300–$500. While not required, it’s a wise investment for peace of mind.
7. Recording Fees
Spokane County may charge around $100–$200 to record the property deed and other documents.
8. Prepaid Property Taxes and Insurance
Lenders often require buyers to prepay a few months’ worth of taxes and homeowners insurance, typically ranging from $1,000–$3,000 depending on the property.
When Are Closing Costs Paid, and How Can Buyers Prepare?
Buyers receive two important documents during the mortgage process:
Loan Estimate: Issued within 3 business days after applying for a loan.
Closing Disclosure: Received at least 3 days before closing.
These documents outline exact costs. Most fees are due at closing, so ensure your funds are readily available. It's wise to start budgeting 2–3 months in advance of your closing date.
How to Reduce Your Closing Costs in Spokane
While some fees are fixed, others may be negotiable or reduced by comparison shopping. Here are a few Spokane-specific strategies:
Shop for Lenders: Ask for quotes and compare origination fees.
Ask for Seller Concessions: In Spokane’s neutral market with an inventory increase of 36.5% year over year, some sellers may be open to covering part of your costs.
Choose a Local Title/Escrow Company: Local service providers often offer competitive rates.
Why Work With a Spokane Realtor to Navigate Closing Costs
An experienced Spokane real estate agent (like myself) does more than help you find a home—we guide you through the costs, disclosures, and decisions every step of the way. I’ll connect you with trusted lenders, make sure your estimates are accurate, and help avoid overpaying on closing day.
Need help getting started?
Contact me today to get a personalized estimate and local recommendations.
Tips for 2025 Spokane Buyers to Stay Ahead
Tip #1: Spokane’s Days on Market rose to 32 days, indicating more negotiation power for buyers. Use this to your advantage.
Tip #2: The Sold-to-Original List Price Ratio dropped to 96%, which may give room to negotiate price or costs.
Tip #3: Keep an eye on Spokane’s inventory trends to know when it's time to make your move.
📌 Spokane 2025 Housing Market Trends
FAQs About Closing Costs When Buying a House in Spokane
What are the average closing costs when buying a house in Spokane in 2025? Buyers typically pay 2%–5% of the purchase price, which amounts to $9,480–$23,700 on a $474,000 home.
Who pays the closing costs when buying a house in Spokane? Primarily the buyer, but some costs can be negotiated with the seller depending on market conditions.
Can I negotiate closing costs when buying a home in Spokane? Yes. In Spokane’s neutral market, buyers may negotiate lender fees or ask sellers to cover part of the costs.
How can a Realtor help with Spokane closing costs? Your Realtor ensures you understand all fees, connects you with cost-effective providers, and helps you plan financially.
Final Thoughts
Understanding closing costs when buying a house in Spokane ensures you’re financially ready for your big move. By knowing what to expect—and having the right Realtor by your side—you’ll make smarter decisions and avoid last-minute stress.
Let’s connect so I can help you estimate your costs, find the right professionals, and secure the best outcome for your Spokane home purchase.
📌 Related Blog: How to Buy a House in Spokane
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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