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Awesome technique, Silverfall. Why don't all agents do this???
There is no way in HADES I would do this. Too much liability and a HUGE risk management issue.
Agents aren't home inspectors and should not act as such. Even if they were licensed as both it would be a huge conflict of interest. I will point out obvious things I see during showings, but always follow that by....YOU STILL NEED A PROFESSIONAL HOME INSPECTION.
Because if I miss something "obvious", I'm the one getting sued and rightly so for playing inspector. And I'm in no way qualified to be a home inspector.
No it just means they didn't have an agent pointing out obvious issues. I've had a client walk twice over home inspection report after repair negotiations failed, in my 8 years as an agent. I just point out the obvious and we get quotes before we write an offer or we negotiate with those repairs in mind. That way they don't waste any money on home inspections.
Quote:
Originally Posted by LCTMadison
There is no way in HADES I would do this. Too much liability and a HUGE risk management issue.
Agents aren't home inspectors and should not act as such. Even if they were licensed as both it would be a huge conflict of interest. I will point out obvious things I see during showings, but always follow that by....YOU STILL NEED A PROFESSIONAL HOME INSPECTION.
Because if I miss something "obvious", I'm the one getting sued and rightly so for playing inspector. And I'm in no way qualified to be a home inspector.
Interesting.
I believe as a fiduciary with a bit of knowledge about housing that I bear responsibility for protecting my clients' capital. I think I am responsible for pointing out obvious flaws in a home to clients, so that visible deal breakers are noted without the client coughing up several hundred dollars to have someone else cite the obvious.
One of the biggest complaints about agents is that they don't point out obvious issues, to the extent that it looks like they are covering up problems for a quick sale/paycheck.
Start running through $500--$800 per multiple failed transaction, and it adds up to a real burden. Often to people who can least afford it.
All that said, I don't see that Silverfall saying her clients do not have home inspections performed. I think she is saying that they don't waste money having a home inspector note obvious items that come as a surprise because the agent didn't try.
My clients never write an offer without knowing if the house has:
Masonite siding
Polybutylene water lines
Aluminum branch circuit wiring
Apollo heating system
Those are just the common, easy ones.
Yes, the home inspector cites stuff I don't see. I just try to make sure a client is not out thousands of dollars by the time they buy a house because I didn't even try.
I find inspectors a useful adjunct in many transactions.
First they spot things I miss. Like attic crawling. I am far too old and big to do that. But I think it should be done on any home in this area. Maybe every tenth house we find a busted trust or one that has not be properly installed. Amazing how common that one is.
And they do things completely. They check every outlet. Pop every CFI. Figure out where the CFIs are. Open, close and lock every window. Open the furnace and assure an even blue field. Validate that we have reasonable temperature spreads on AC and Heat.
We generally do a thermograph inspection of all the walls particularly in the bathroom and kitchen. Often find leaks that would otherwise be difficult to discover.
And then they provide first level authority for things I am concerned about. I see a section of wall that does not quite match or is recently repainted. Inspector can generally figure a reason to force an explanation or to call in a heavy to explore.
They are very helpful in establishing credibility. I know perfectly well what normal stucco cracking looks like. But the client will always be happier when the inspector points out that it is normal.
And finally you end up with a punch list to organize a response.
I have a background that makes me very knowledgeable about certain classes of problems. But it works much better if I whisper to the inspector rather than point it out myself.
There's not much you can do about buyers who are operating in bad faith. Unless you want to get into a protracted legal battle with them which will just tie up the sale of your home best to cut them loose asap.
In my area its not hard to get an inspector to show up within 24 hours and generate the report within the next 24 hours especially at this time of year when sales are slower. Not to mention that if the buyer accompanies the inspector, they are going to know anything major he finds at that time. I don't know if its common here, but the inspector our buyer used sat with both of us and went over his findings before he left.
I would shorten the contingency to whatever is doable for your area. A serious buyer who wants the house is not going to have a problem with that.
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