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Status:
"I didn't do it, nobody saw me"
(set 12 hours ago)
Location: Ocala, FL
6,484 posts, read 10,357,154 times
Reputation: 7925
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Quote:
Originally Posted by Maki_Chicago
I'd want to see disclosures made public record.
I assume you are referring to the inspection report. If a potential buyer pays for an inspection out their own pocket, why would it be published to public record ? The inspection report should only be made available to others if they want it released and should not be forced to.
If someone confides information with their attorney, should that also become public record ??
If I misunderstood your question, please clarify.......
Just got through with the inspection on the house we are selling. One of the sticking points is that the inspector wrote that the pressure relief valves on the water heaters did not operate and that this was a code and safety issue that a plumber needed to address.
My husband (who is out of state working) called my teenage son on FaceTime, told him where to locate the valves, and my son was easily able to operate all the pressure relief valves with no problem.
It makes me very frustrated that someone who is licensed did not know how to do something so simple, then wrote a damaging report, and effectively kiboshed our transaction.
Another item that came up was a light bulb in a very large closet. We have four canned lights in this closet and I didn't notice that one of them was burned out. Inspector wrote that the light "failed to operate" and suggested that there could be an electrical failure throughout the house, and that a licensed electrician should check it out. There is no logic put to this, such as seeing that the other three lights work and that the most likely explanation is a burnt out bulb, and not failure of the whole house's electrical system.
What have been some of your most aggravating inspector issues? What would you change about this whole process?
How about ... Inspector is personally liable for any lost monies due to misdiagnosed issues (in your example, electrical) that lead a buyer to exercise the failed inspection clause to back out of a deal.
FWIW, a house in our neighborhood is for sale and had an inspector over to look at it two weeks ago. Afterwards when a friend and I walked past it, there was a very small stream of water coming out from under the garage door. We peeked in the window to see why the water and it was coming from the water heater PRV valve discharge pipe. It wasn't there before the inspector.
That house went back on the market, a plumber was there for one afternoon and now there's another contract on the house.
How about ... Inspector is personally liable for any lost monies due to misdiagnosed issues (in your example, electrical) that lead a buyer to exercise the failed inspection clause to back out of a deal.
How about ... Inspector is personally liable for any lost monies due to misdiagnosed issues (in your example, electrical) that lead a buyer to exercise the failed inspection clause to back out of a deal.
The Inspector did not misdiagnose an issue. What they did was use a poor choice of wording to describe it. Any competent Agent would have explained the poor wording to the Buyer and the owner could have responded in kind and brought the Buyer back to display the repaired, burned out bulb. I suspect that there was much more in play why the OP's Buyer walked away.
How about ... Inspector is personally liable for any lost monies due to misdiagnosed issues (in your example, electrical) that lead a buyer to exercise the failed inspection clause to back out of a deal.
LOL, how much are you willing to pay for an inspection? And what happens when a buyer just uses the inspection results to get out of a deal by asking for every little thing or a seller refuses to fix serious issues?
LOL, how much are you willing to pay for an inspection? And what happens when a buyer just uses the inspection results to get out of a deal by asking for every little thing or a seller refuses to fix serious issues?
Maybe $5.00 /Sq. Ft. with a minimum fee based on 2000 Sq. Ft. might be enough to assume this level of coverage?
Agreed, if you're implying inspections by sellers before going on the market.
Otherwise...
New Yorkers who come to NC and don't have to deal with inspecting prior to contract are routinely pleased with the simplicity and cost-effectiveness of our process.
Let me ask you, if you are selling, which of these disclosures, or variations thereof, would you be willing to offer to buyers prior to contract?
Most if not all sellers know what is wrong with their houses. When I sell I disclose whatever I need to disclose. I dont care if you buy the house because if you don’t buy it someone else will. If it doesn’t sell I’ll sit on it and rent it back out. Or buy the other house and rent the previous one. I’ve done t before. No skin off my back. I would have the contract state I will take back up offers while I’m in contract with you anyway.
As far as disclosure if there was something wrong...I would price it appropriately in the first place. And it would of been fixed way before it became a big problem. Why? Because I dint want to live in a craphole. And I have the money to maintain my house
Most if not all sellers know what is wrong with their houses.
This is far from accurate. When I go on listing appointments, I commonly surprise sellers with issues I point out that will need repair or disclosure.
When I get parties to contract, Sellers are routinely horrified at legitimate inspection results.
Most sellers don't crawl into crawl spaces for detailed assessments, and won't know if there is a leak in the tight corner that is rotting wood, welcoming termites, or encouraging mold.
I think a great number of sellers really are not qualified to assess their home in detail, and call for repairs when something just no longer functions. Ergo, don't know the extent of material defects that don't interfere with day to day living.
Quote:
Originally Posted by Electrician4you
When I sell I disclose whatever I need to disclose. I dont care if you buy the house because if you don’t buy it someone else will. If it doesn’t sell I’ll sit on it and rent it back out. Or buy the other house and rent the previous one. I’ve done t before. No skin off my back. I would have the contract state I will take back up offers while I’m in contract with you anyway.
I have never actually seen a contract that prohibited backup offers. I think a seller can entertain any offers and can go into backup contract at any time. Is it different in your state?
Quote:
Originally Posted by Electrician4you
As far as disclosure if there was something wrong...I would price it appropriately in the first place. And it would of been fixed way before it became a big problem. Why? Because I dint want to live in a craphole. And I have the money to maintain my house
"Price" is not at all the same thing as "disclosure."
All price does is make a property attractive to a buyer, who then is enmeshed in a caveat emptor dynamic while spending money to assess.
A buyer can be lured by price, and have thousands of dollars and the duress of that expense in assessing a house, just to find a dealbreaker that you don't disclose.
The vast majority of water heaters don’t ever get flushed and they last a decent amount of time. Some go out at 7 years and some last 15 plus but most seem like a good a,out Moffat time to the owners. But, you sometimes hear them popping and bubbling when they’re old due to gunk building up and they lose efficiency. If you do it every year from the start, and replace the anode after a few years, the water heater will probably last longer than otherwise, especially Replacing the anode. But if it’s like 10 years old and never been done, I’d probably wouldn’t flush it personally. Nothing scientific, but it seems like it would be better to leave it alone and maybe just replace the anode. This would also be depending on the quality of water supply in the area.
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