Step 30 to Selling Your Home – The Appraisal Occurs

Andi • March 6, 2023

If the Buyer is using a mortgage to buy your home, then the Lender will require that an appraisal be conducted. 

Who Orders the Appraisal?

The Buyer’s Mortgage Lender orders the appraisal, but the Buyer pays for it.

When Does the Appraisal Occur?

Usually, during weekday hours after the inspection negotiation has been resolved.

Do I Need to Attend the Appraisal?

No, you will not attend the appraisal. I will provide the comps and state our case as to why we think the
purchase price is justified to the appraiser.

How Long Does the Appraisal Take?

Usually about 30 minutes.

How long until we know if the property appraised for the purchase price?

Usually, a week to 10 days after the appraisal appointment. Once the report is written, the Buyer’s Mortgage Lender forwards it to the Buyer to let the Buyer know whether the property appraised
at the purchase price, below the purchase price, or above the purchase price. If the property appraised at the purchase price, nothing further needs to be done, and the closing process will proceed forward as planned. 

How Home Appraisals Work By: SARAH SIDDONS  |   Feb. 22, 2021

You’ve found your dream home. The asking price is $700,000 — an amount you’ve already been pre-approved for by your bank. But is the home really worth that amount? That’s the question at the heart of the home appraisal. The worth, or value of the property, will determine how much a lender is willing to give you to buy that particular piece of real estate.

This all-important step in getting the financing you need is the home appraisal — an oftentimes-confusing part of the mortgage process in which both buyer and seller must depend on the expert opinion of a stranger. A real estate appraisal is simply that — the expert opinion of a certified, state-licensed professional who determines the value of a piece of property. If your $700,000 dream home is really worth only $600,000, then the home is overpriced.

A home appraisal also protects the bank from getting stuck with property that’s worth less than they’ve invested. And it protects you from paying too much for a house simply because it was love at first sight. The home appraisal is a no-nonsense factor in a decision that is often emotional for the buyer.

A home appraisal is not the same thing as an inspection. If you’re buying a home, you’ll want to hire an experienced home inspector to point out any potential problems that could turn into costly nightmares in the future. Property appraisers will likely make note of any obvious issues, but they won’t test your heat and air, check the chimney, or determine if your plumbing is up to code. That’s the job of the inspector.In this article, we’ll take a look at the methods appraisers use to value property and find out what’s included in the appraisal report. We’ll debunk some common myths — for example, will dirty dishes in the sink affect your home appraisal? What about a wet basement? We’ll find out where the appraiser gets the information that determines the value of the property. And, if you get a low appraisal, what happens next?

Home Appraisal Methods

When you apply for a mortgage, your lender typically requires the property to be appraised by one of their approved appraisers. This practice helps create more consistent appraisals and gives you assurance that the appraiser is properly licensed and certified. Even though the home appraisal is the lender’s requirement, it’s the borrower’s responsibility. You usually pay for it as part of the mortgage costs at the time of closing. The cost is typically around $900 but can be more depending on the price of the property.

There are two primary appraisal methods for residential property. In the  sales comparison approach,  the appraiser compares the property with three or four similar homes that have sold in the area, often called  comparables , or  comps . The analysis considers specific components, such as lot size, square footage of finished and unfinished space, style and age of the house, as well as other features such as garages and fireplaces.

The  cost approach  is used more for new property and is based on reproduction costs. The appraiser estimates the cost to replace the structure on the property if it were destroyed. The appraiser then looks at land value and depreciation to determine the property’s worth.

The appraiser gathers information for the appraisal report from a number of sources, but the process often begins with a physical inspection of the property inside and out. Additionally, the appraiser may look at county courthouse records and recent reports from the local real estate multiple listing service.

The appraisal report generally includes:

  • an explanation of how the appraiser determined the value of the property
  • the size and condition of the house and other permanent fixtures, along with a description of any improvements that have been made and the materials used
  • statements regarding serious structural problems, such as wet basements and cracked foundations
  • notes about the surrounding area, such as new or established development, rural acreage, and so on
  • an evaluation of recent market trends of the area that may affect the value
  • a comparative market analysis that supports the appraisal
  • maps, photographs, and sketches

To learn more about what’s included in the report, take a look at this property appraisal form from Freddie Mac, the second biggest provider of residential mortgages. If you have questions about any aspect of the appraisal, ask the appraiser for clarification.

A common misunderstanding is that the appraisal amount is only for the house itself. In fact, the figure appraises the total value of the home and any other permanent structures, along with the land that the house is built on. This appraisal figure also determines the loan amount you can get to buy the property.

Now you learn that your dream home is valued at $649,000 — a full $51,000 lower than the asking price! Your lender won’t loan more than the appraisal. So what do you do?

Recovering From a Low Appraisal

An appraisal of $649,000? The home seller learns that his $700,000 asking price is much higher than the actual property value. If you are the buyer, this figure means that the amount you can finance on the property is much lower than you expected. An appraisal value that is considerably lower than what you have offered should be a red light — a warning that you may be paying too much for the property. So is the deal over? Is it time to panic and throw in the towel? Can anything be done?

First, take a look at what may have caused the low appraisal. It might be due to factors that the homeowner could correct, such as repairs or maintenance. If that’s the case, the appraiser may be willing to take a second look and adjust the appraisal accordingly.

You always have the option to order a second appraisal. This may be a good idea if the first appraiser is inexperienced or unfamiliar with the area where the property is located. However, be sure to use an appraiser from a list recognized by the lending institution. It’s possible that a second appraisal will uncover mistakes the first appraiser made. If you believe that an appraisal is simply not an accurate representation of the property’s value, and the appraiser is not willing to listen to your concerns, you can go to your state’s licensing agency for appraisers and file a complaint.

From the lender’s standpoint, however, the mortgage transaction is at a standstill until something else happens. Perhaps the seller will lower the asking price or carry a second mortgage to make up the difference. Or, as the homebuyer, you may be willing to increase your cash down payment. It’s possible that both buyer and seller can negotiate compromises that will satisfy the lender.

If, however, negotiations fall through and the appraisal is still too far below what the bank is willing to finance, then there’s no choice but to cancel the transaction. You probably signed a purchasing contract stating your offer for the property, but it likely contains a loan contingency. This is a statement that allows you to cancel the contract and receive any deposit you paid the seller if you can’t qualify to buy the property at the agreed terms.

A home appraisal is more than just another cost added to the buyer’s bottom line. It’s a protection for everyone involved in the home-buying process. It will help you make a more informed decision about purchasing a home.

Questions? Contact us at andi@andidyer. com or 360-734-6479.

This content is not the product of the National Association of REALTORS®, and may not reflect NAR’s
viewpoint or position on these topics and NAR does not verify the accuracy of the content.
Copyright © 2022 Andi Dyer and Sterling Real Estate Group. All rights reserved.

Slow Market or Opportunity? What Sellers in Whatcom County Should Know This Winter

By Andi Dyer • November 13, 2025
Despite the perception of a “slow market,” winter 2025 in Whatcom County actually represents a real opportunity for sellers who adapt their approach strategically. After several years of rapid home price growth and extremely tight inventory, the market has entered a more balanced phase marked by higher inventory, steady buyer demand, and stable pricing across the region. Inventory Is Up — and So Is Competition Inventory has increased significantly over the past year. In Bellingham, active listings are up 41% year-over-year , with similar trends seen in Ferndale, Lynden, Blaine, and Birch Bay. This growth gives buyers more choices than they’ve had in years, but it also means sellers are competing for attention. Homes that stand out with professional staging, high-quality photos, and competitive pricing continue to sell quickly, even as the overall pace slows. Sellers who approach listing preparation thoughtfully are still seeing strong offers and solid closing timelines. Prices Remain Steady Home prices across Whatcom County have softened only slightly from their 2024 peaks but remain stable overall. The median home price currently hovers between $615,000 and $625,000 , with detached homes averaging around $620,000 . Average days on market have increased modestly, giving buyers a bit more breathing room — but that shift also highlights the importance of realistic pricing. Homes priced too aggressively tend to linger, while those aligned with current market data still attract steady interest. Ferndale continues to appeal to buyers seeking affordability and newer developments, while Bellingham holds its value thanks to its waterfront access, cultural amenities, and strong local economy. A Balanced Market Creates Strategic Openings With roughly 3.5 to 4 months of inventory , Whatcom County has reached a level of balance not seen in years. Buyers have more time to make decisions, but sellers who present their homes well and price strategically are still rewarded. This isn’t the frantic, multiple-offer market of 2021—but it’s also not a downturn. It’s a recalibration. Sellers who see it that way are the ones finding success. The Seller’s Advantage: Preparation and Precision Winter markets tend to filter out casual buyers. The ones shopping now are typically motivated—relocating, upsizing, or taking advantage of improved selection. That’s why preparation matters so much. Well-staged homes that photograph beautifully online and are priced in line with recent sales continue to capture attention. Sellers who invest a little time in presentation and flexibility in negotiation are often the ones walking away with strong results. The Bottom Line Winter 2025 in Whatcom County isn’t a “slow” market—it’s a smarter one. With rising inventory, stable pricing, and buyers who are still active but more deliberate, it’s a season where strategy counts more than speed. Sellers who adapt to these changes—by pricing realistically, presenting their homes thoughtfully, and staying patient—can take advantage of this moment to move forward successfully. Andi Dyer, REALTOR® RE/MAX Whatcom County 📞 Call: 360.734.6479 🌐 AndiDyer.com/schedule Expert Guidance to Buy, Invest, and Sell in Bellingham and Whatcom County  Frequently Asked Questions 1. Is winter a bad time to sell a home in Whatcom County? Not at all. Serious buyers stay active through winter, and less overall competition can make your home stand out. 2. Are home prices dropping in Whatcom County? Prices have softened slightly from their 2024 highs but remain steady. The market is balanced, not declining. 3. How long are homes taking to sell? Most homes are taking slightly longer—typically 30 to 45 days—but well-prepared listings can still go pending within two to three weeks. 4. Should sellers wait until spring 2026? Waiting isn’t always better. Listing now can mean less competition and a pool of serious buyers who want to move before spring. 5. What’s the key to selling successfully right now? Realistic pricing, strong presentation, and working with a REALTOR® who understands the shifting local market dynamics.

From Your Porch to Their Pantry – Bellingham Food Drive

By Andi Dyer • November 11, 2025
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Swedish Glogg Recipe

By Andi Dyer • November 10, 2025
To make traditional Swedish Glögg (mulled wine), you gently heat red wine and spirits with a blend of spices, orange zest, and sugar. The mixture is then strained and served warm with blanched almonds and raisins. Ingredients 1 bottle (750ml) dry red wine (e.g., Cabernet Sauvignon, Pinot Noir, or a Cotes du Rhone) 1/2 to 1 cup sugar (caster or granulated, to taste) 1/2 to 1 cup vodka, aquavit, bourbon, or brandy (optional, for a stronger drink) 1 orange (peel in wide strips, avoiding the white pith) 1 cinnamon stick 10 whole cloves 10 cardamom pods, lightly crushed 3-4 slices fresh ginger, peeled (optional) 1/2 cup raisins (plus more for serving) 1/2 cup blanched slivered almonds (for serving) Instructions Combine Ingredients: In a large saucepan, combine the red wine, sugar, orange zest strips, cinnamon stick, cloves, crushed cardamom pods, and ginger slices (if using). Add the raisins and almonds into the mixture or save them for serving. Heat Gently Warm the mixture over medium-low heat. Stir occasionally to dissolve the sugar completely. It is crucial that the mixture is heated gently and never allowed to boil, or the alcohol will cook off and the flavor will be spoiled. The temperature should stay below 175°F (77°C). This process typically takes 10-15 minutes. Steep Remove the pot from the heat, cover it with a lid, and let the spices infuse the wine. This can be done for at least 1 hour, or ideally, the mixture can be left to steep overnight in a cool place for a more intense flavor. Strain and Reheat Strain the glögg through a fine-mesh strainer to remove all the spices and orange peel. Discard the spices. Gently reheat the liquid over low heat until hot but not boiling. Add Spirit (Optional): Just before serving, stir in the vodka, aquavit, or other spirit of your choice, if using. Serve Ladle the warm glögg into small heatproof glasses or mugs. Garnish each serving with a few additional blanched almonds and raisins, which are traditionally eaten with a small spoon as you drink.

Winter Recipe: Pomegranate & Pear Green Salad with Ginger Dressing

By Andi Dyer • November 4, 2025
Bring a burst of color (and flavor!) to your table with this crisp, seasonal salad. Juicy pears, tart pomegranate seeds, and a lively ginger dressing make it a refreshing side for any fall or holiday meal.  🍁 Click below to get the recipe and add a little sparkle to your menu!

How One Bellingham Homeowner Dodged Thousands in Property Taxes (and How You Can Too)

By Andi Dyer • November 2, 2025
Got a surprise property tax bill? You may be able to appeal—but don’t wait. One homeowner called me two days before the deadline, and we built a successful appeal together. Check your 2025 valuation and email me “Tax Check” for a free review. It started with a Saturday night phone call. Frantic, a local homeowner reached out just days before the property tax appeal deadline. Their 2024 assessment had landed with a thud, forecasting a tax bill that felt wildly out of line with reality. The deadline to appeal? Monday, October 27th. Cue the scramble. That evening, too stormy to drive, I hunkered down at home and dove into the numbers. Something wasn’t right. The new valuation didn't match the trajectory of their neighborhood market. The math simply didn’t check out. Sunday morning, we got to work. I drove out to their property, and together we built a bulletproof appeal. We reviewed sales data, took updated photos, and pulled relevant comparables to submit with their documentation. The appeal package was ready to go by Monday morning. Crisis averted. Here’s what every Whatcom County homeowner should know: Your property valuation notice typically arrives in September. You have 30 days from the date on the notice to file an appeal. If the number looks off, don’t shrug and hope it’s close enough. You can challenge it—and often should, especially in fluctuating markets like Bellingham, Ferndale, and beyond. The key takeaway? Don’t wait until the last minute. It pays to be proactive. Assessments aren’t always accurate, and appealing your property valuation could save you thousands. If your 2025 valuation doesn’t reflect the true market value of your home, you have options—and you don’t have to figure them out alone. Let’s make sure you’re not overpaying. If your new valuation feels too high, DM me "Tax Check" and I’ll give you a free property value review. We’ll go over the numbers together and see if an appeal makes sense. Still have questions? Let’s meet for coffee and talk it through. I’m always happy to help you navigate the less-fun-but-super-important parts of homeownership.

Fall Recipe: Vegetable Lasagna

By Andi Dyer • October 29, 2025
🍂 This hearty vegetable lasagna is the perfect fall meal—warm, colorful, and packed with seasonal goodness. It’s a crowd-pleaser that feels just as good on a weeknight as it does at a fall gathering.

Bellingham Real Estate October 2025: A Balanced Market with New Opportunities

By Andi Dyer • October 29, 2025
Quick Take: Bellingham’s 2025 housing market offers something refreshingly rare - balance. More listings, steady prices, and moderate competition are giving both buyers and downsizers room to breathe and act strategically. 

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By Andi Dyer • October 21, 2025
Looking to invest smartly or plan your next move in Whatcom County? Some local neighborhoods are showing impressive signs of growth, value retention, and strong rental potential making them ideal for long-term appreciation. Here’s a look at five communities worth keeping on your radar: 1. Roosevelt (Bellingham) With its central location, large lots, and ADU-friendly zoning, Roosevelt continues to attract buyers who want flexibility and walkable convenience. It’s a favorite among those seeking character and proximity to downtown. 2. Birch Bay This waterfront community is seeing major infrastructure upgrades and renewed interest as a vacation and investment hub. Its scenic shoreline and growing amenities make it a strong contender for long-term appreciation. 3. Ferndale (East Side) With newer developments, room to expand, and commuter-friendly access to I-5, East Ferndale offers both value and convenience. It’s an area where growth feels steady and sustainable. 4. Columbia (Bellingham) Known for its historic charm and tight-knit feel, Columbia holds its value remarkably well. Buyers love its tree-lined streets and classic homes — perfect for light renovations or long-term investment. 5. Sudden Valley An affordable entry point into lake life, Sudden Valley combines trails, community amenities, and access to Bellingham with room to grow. Its popularity among remote workers continues to rise. 📊 Want to See Data for Your Favorite Neighborhood? I can send you a custom report with market trends and appreciation forecasts tailored to your goals.

It's Time to Gather Around the Table

By Andi Dyer • October 20, 2025
Hello Bellingham, This season, I’m thrilled to share a special partnership with Cranberry Sky Heirloom Rentals, a local gem that makes entertaining beautiful and stress-free. As a client of mine, you’re invited to enjoy an exclusive perk: ✨ Book any rental with CSHR (just a $25 minimum) and receive a complimentary Soup Buffet or Cocoa Station setup for up to 10 guests, complete with classic, mix-and-match dishes, mugs, serving pieces, and ladles. Everything you need (except the food and heat source) to wow your guests with ease. Perfect for: A cozy après-ski snack Fall harvest dinners & Friendsgiving Holiday parties (Christmas, New Year’s, Galentine’s) Or even a neighborly weekend get-together Event bookings are open October 1, 2025, through March 31, 2026. Upgrades and delivery options available. Because gathering should feel as good as home. 🏡' 

Download My Free Local's Guide

By Andi Dyer • October 20, 2025
Hey Bellingham, Bellingham isn’t just a place to visit—it’s a place to live, savor, and explore. From seaside sunsets and cozy coffee shops to mossy forest trails and dog-friendly hangouts, our city has a rhythm all its own. I’ve rounded up my personal favorites in a free download: A Local’s Guide: My Top 10 Favorites in Bellingham. You’ll find hidden gems, local eats, and can’t-miss experiences that make this corner of Whatcom County feel like home. Whether you’re new to the area or just want to rediscover it through fresh eyes, this guide is your invitation to wander like a local. 📍 Download the guide now and start exploring the best of Bellingham. One latte, trail, and sunset at a time.
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