Are you wondering what happens after your lender orders the appraisal on your Everett home? You are not alone. Whether you are buying or selling, the appraisal is a key step that can influence timing, negotiations, and peace of mind. This guide breaks down what to expect in Everett and greater Snohomish County, how value is determined, and what to do if the number comes in lower than planned. Let’s dive in.
What a home appraisal is
A home appraisal is an independent estimate of market value at a specific point in time. Lenders use it to confirm the home is worth the amount you are financing. It focuses on what a typical buyer would pay in today’s market.
An appraisal is not a home inspection. An inspection looks for condition and safety issues. It also differs from your tax assessment, which is used for property taxes. The appraisal’s goal is fair market value for lending.
Appraisal types you might see in Everett
Standard interior appraisal
This is the most common format for single-family homes. The appraiser views the interior and exterior, records features and condition, and analyzes recent closed comparable sales to form an opinion of value.
Desktop or drive-by
Some refinance or lower-risk loans may use a desktop or exterior-only review. There may be limited or no interior access. Not all loans qualify for this format.
FHA and VA appraisals
FHA and VA appraisals follow additional property standards focused on safety and habitability. These can add time for scheduling and may require repairs before closing if issues are found.
CMA vs. appraisal
Your agent may prepare a comparative market analysis to help with pricing. A lender-ordered appraisal is done by a licensed appraiser and is intended for underwriting. Both rely on recent comparable sales, but the appraisal is independent for the lender’s decision.
How appraisers value Everett homes
Comparable sales and adjustments
Closed comparable sales are the most important data point. The appraiser compares your home to similar recent sales and makes adjustments for differences such as size, beds and baths, lot, condition, and view.
Property features that matter
Square footage, functional layout, effective age and condition, and documented upgrades all play a role. Finished basements, ADUs, garages, and parking can influence value when they are typical for the area.
Location and local drivers
Location factors include lot size, topography, and views of Port Gardner Bay or the Puget Sound. In Everett, demand is also shaped by proximity to major employers like Boeing, Naval Station Everett, and the Port of Everett, along with access to I-5, SR 526 and SR 529. Regional transit investments and future connections can affect long-term demand in certain submarkets.
Market conditions and permits
Appraisers consider if the market is moving up or down and may apply time adjustments based on recent trends. Permitted improvements with clear documentation can support value. Zoning, easements, floodplain status, and critical areas can also factor into the analysis.
Timeline and cost in Snohomish County
The lender typically orders the appraisal after you apply for the loan and have a signed purchase agreement. The appraiser will schedule the site visit, often within a few days depending on availability.
Most reports are delivered in 3 to 10 business days. Complex homes or busy seasons can extend timelines. FHA and VA assignments may take longer due to added checks.
Fees vary by property size and complexity. In the Puget Sound region, typical single-family appraisal fees range from the mid-hundreds to the low thousands of dollars. The borrower usually pays the fee as part of loan costs.
How to prepare for the appraisal
For sellers
- Create a brief info packet: list of upgrades with dates and receipts, recent permits, HOA details, and a summary of features.
- Share any closed comparable sales that support your price target.
- Ensure full access to all rooms, garage, attic, crawlspace, and exterior.
- Tidy rooms and improve curb appeal so the appraiser can confirm condition and features quickly.
For buyers
- Coordinate access with the seller and your lender’s timeline.
- If allowed, you can be present for entry, but do not guide the appraiser.
- Provide documentation for any repairs negotiated with the seller so the appraiser can verify completion.
If value comes in low
Why it happens
Rapid market shifts, limited comparable sales, or condition issues can lead to a value that is below the contract price. Sometimes the selected comps do not reflect a specific micro-market or key features like a permitted ADU or water view.
Your options
- Renegotiate the purchase price with the seller.
- Bring additional cash to cover the gap.
- Ask your lender to request a reconsideration of value by submitting credible additional comps or documentation.
- Use the appraisal contingency in your contract to cancel or renegotiate, depending on terms.
VA loans
VA loans follow defined value and property standards. Borrowers can request a reconsideration of value through the lender if there is strong supporting data.
If value is higher than expected
A higher appraisal does not always change underwriting. Lenders may still review the report for risk. If the number is unexpectedly high, the lender might take a closer look at the comparables.
Waivers and automated alternatives
Some loans may qualify for an appraisal waiver or an automated valuation model. These options can reduce time and cost but are not available for every program or borrower. Eligibility depends on investor rules and loan details.
Rules, independence, and disputes
Appraisers in Washington are licensed and must follow the Uniform Standards of Professional Appraisal Practice. Lenders select appraisers in line with appraisal independence rules to avoid undue influence.
If you believe a report is biased or contains errors, submit additional comps and documents to your lender and request a reconsideration of value. The lender may also order a review or a second appraisal at their discretion. If you suspect ethical or licensing violations, you can file a complaint with the Washington State Department of Licensing.
Local insights that can help you
Everett’s neighborhoods vary by proximity to the waterfront, transit, and regional job centers. North Everett, South Everett, and the Silver Lake area often show different pricing patterns because of location and housing stock. Nearby communities like Mukilteo, Edmonds, and Mill Creek can influence buyer searches and comparable selection.
Water views, shoreline considerations, and topography can affect value. Permits from the City of Everett or Snohomish County that document upgrades or additions provide helpful support. When inventory is tight or the market is shifting, expect appraisers to lean on the most recent closed sales and adjust for time.
Work with a local guide
A clear strategy before the appraisal reduces stress. Document your improvements, price with recent sales in mind, and plan for how you will respond if the value lands below contract. If you want hands-on guidance, local experience matters. For tailored pricing advice, staging support, and step-by-step help through underwriting, connect with Kelli Leese for a friendly, local approach.
FAQs
How long does an Everett home appraisal take?
- Fieldwork is often scheduled within a few days of order, and most reports arrive in 3 to 10 business days. Complex properties or busy seasons can take longer.
What does the appraiser look for during the visit?
- Key features include size, layout, condition, updates, lot and location, plus signs of deferred maintenance. The appraiser compares these to recent closed sales.
Who pays for the appraisal in Snohomish County?
- The borrower usually pays the fee with their loan costs. Fees vary with property size and complexity and often land in the mid-hundreds to low thousands.
Are FHA and VA appraisals stricter than conventional?
- Yes. FHA and VA include additional safety and habitability checks, which can add repair requirements and time before closing.
What can I do if my appraisal comes in low?
- You can renegotiate the price, bring additional cash, or ask your lender to request a reconsideration of value with better comps. Your contract terms guide next steps.
Can a seller order an appraisal before listing?
- Yes. A pre-listing appraisal can help set pricing expectations, but a buyer’s lender will usually still require their own appraisal for the loan.
