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Old 09-09-2019, 07:02 AM
 
5,574 posts, read 2,556,925 times
Reputation: 15914

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Quote:
Originally Posted by FlaLadyB View Post
Excuse me? I'm a REALTOR over 30 years and certainly not in the EAST since I'm in FLORIDA .. as it says on my info.

I would not have a client purchase a house without an inspection of some kind....never have
Florida's not in the East? When did they move it?
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Old 09-09-2019, 08:35 AM
 
437 posts, read 128,191 times
Reputation: 1519
Quote:
Originally Posted by jackmichigan View Post


A cautionary note: some contracts with inspectors limit damages to the cost of the inspection.
Have you actually seen a victimized homeowner recover any worthwhile damages from an incompetent home inspector? Enough to even cover the victim's legal fees. I have not. I ask this since, as a custom homebuilder, occasional independent inspector, and paid witness in home defect lawsuits, I have dealt with some of the many clowns who hang a shingle claiming that they are "professional home inspectors". My experience, and the information from the litigators I have worked with, is that an inspection contract is well written to protect the inspector, no matter how incompetent or corrupt they may be, and makes any meaningful recovery essentially impossible.
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Old 09-09-2019, 08:55 AM
 
506 posts, read 532,831 times
Reputation: 1663
Totally depends upon who you choose for an inspection. Some of these people are magnificent losers....keep giving you disclosures why they can't find what you want them to find or why they can't look "there".
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Old 09-09-2019, 08:56 AM
 
6,882 posts, read 8,241,586 times
Reputation: 12020
Quote:
Originally Posted by wharton View Post
Have you actually seen a victimized homeowner recover any worthwhile damages from an incompetent home inspector? Enough to even cover the victim's legal fees. I have not. I ask this since, as a custom homebuilder, occasional independent inspector, and paid witness in home defect lawsuits, I have dealt with some of the many clowns who hang a shingle claiming that they are "professional home inspectors". My experience, and the information from the litigators I have worked with, is that an inspection contract is well written to protect the inspector, no matter how incompetent or corrupt they may be, and makes any meaningful recovery essentially impossible.
No, I have not. I could have easily written "most contracts" limit damages, but I really don't know what practices are in all 49 other states...although I do have my suspicions.
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Old 09-09-2019, 11:54 AM
 
3 posts, read 155 times
Reputation: 10
We never had an inspection done on the new homes we bought but we always do on the used ones.
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Old 09-09-2019, 12:35 PM
 
Location: East Coast
3,265 posts, read 1,981,650 times
Reputation: 4901
Quote:
Originally Posted by Spottednikes View Post
Buying it as is with a short option period, which gives the unrestricted right to terminate. Buyer gets inspection and decides either to continue with contract or terminate. Does not ask for any repairs regardless of what inspectior finds.
TREC contracts have both an as is box to check, and a section detailing the option period.
But this is still a contingency, which a seller might or might not want to accept. They're not making repairs, they're not negotiating. Depending on the market, if another offer comes in with no contingency, that one is going to win the day.
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Old 09-09-2019, 12:52 PM
 
85 posts, read 13,997 times
Reputation: 146
Recently ran into an inspector Lake City Inspections in CDA, ID (lakecityinspections.com) that has a $25,000 warranty coverage, a roof guarantee and a 90 day buy back guarantee if they miss anything. Had a buyer use them back in June and they seemed competent. But wow, how does a warranty like that work?
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Old 09-09-2019, 01:16 PM
 
Location: The Triad (NC)
28,995 posts, read 63,185,668 times
Reputation: 33169
Quote:
Originally Posted by Spokaneinvestor View Post
But wow, how does a warranty like that work?
Insurance
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Old 09-09-2019, 01:23 PM
 
85 posts, read 13,997 times
Reputation: 146
Quote:
Originally Posted by MrRational View Post
Insurance
Always nice to see one word answers. What insurance company is going to take on that level of risk without a premium that makes the inspection cost non-competitive. And what small inspection company can afford to self insure (aka deductible) any large amount of the claim. The claim might be the small cost, the legal fees could be the real cost. Anyway, my thoughts are it is a sales gimmick with nothing behind it.
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Old 09-09-2019, 01:28 PM
 
Location: Fort Lauderdale, Florida
9,538 posts, read 8,528,334 times
Reputation: 20889
Quote:
Originally Posted by Burnley View Post
Yes actually I am also sending a notice that gives me the right to terminate if the lenders appraisal is below the offer price. Do you think thatís why sellers are declining my high offers?
Yes.

Also, insurance companies will not insure without inspection and you cannot get a mortgage without insurance.

So you can only decline inspection if you are paying cash.
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