Not All Home Inspections Are Created Equal
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This is NOT the actual subject propertyOne of the things Shelley and I are very proud of in our business is the "team" of experts we have assembled to assist our clients. It is very important to us to provide the best possible level of service EVERY step of the way through a transaction for both home buyers and sellers.
One of the extremely important steps in a home buying transaction is having a complete, comprehensive, home inspection done. Even though there are many, we have two inspectors we recommend for our transactions. The buyer, of course, is free to chose any inspector they want because they are paying for the inspection but if they ask our opinion, we do have certain inspectors we have had good experience with... and others we find less than satisfactory in their reports.
Anyway, we are currently working with a buyer who had found a home they wanted to make an offer on. The home had a "contingent offer" on it, so we were trying to bump the contingent offer and put ourselves in first position to purchase the home. However, in doing so, Shelley and I would NEVER, NEVER, NEVER, do anything we would consider to be to the detriment of our client.
Turns out the "contingent" offer buyers had waived ALL repair requests (except those associated with a clear pest inspection).
That put us in a precarious position. Do we write up the contract offer to waive the typical inspection contingencies and be prepared to purchase the home "as is" or do we go forward with our inspection requests and risk losing the house?
Well, we NEVER, NEVER, NEVER recommend buying a home without a full home inspection (including new construction). Firstly, we strongly believe this is a critical step in having the buyer attend the home inspection to become familiar with the home they are buying. This is an important step in getting to know their new home. In our view, a home inspection is not so much about being sure there is NOTHING wrong with the home as being sure there are no health or safety issues wrong with the home. It's an important aspect of the transaction. But, I digress from the story at hand.
At my suggestion, the buyer agreed we should compose the contract to include all typical inspections (home inspection, pest inspection, etc). Again, keep in mind, the home already had a contingent offer with no repair requests. We requested a home inspection (at the buyers expense) and a clear pest inspection (at the seller's expense). After some negotiating with the purchase price, the offer was accepted. But, the contingent buyers would not be put on notice until we waived the inspection contingencies.
So, we proceeded with our home inspection. It revealed a number of "issues", the most serious of which involved a bulging wall in the basement. The wall was covered with paneling so it required us to remove the paneling and see what was behind it. And what did we find? A collapsing foundation!!! Yes, a collapsing foundation. The concrete blocks were separating due to excess moisture ilfiltraing the ground on the exterior, creating extreme pressure pushing the foundation wall inward. We had a problem.
There were actually two problems. 1) We needed a structural engineer to come look at the wall and make a recommendation so we could get a bid for appropriate repairs and, 2) The sellers were asking us to replace the paneling (before we could get the engineer in to look at the foundation) because they had more showings later that week. Red lights started flashing at this point. Hmmm... what should we do next?
To be continued...
Have a great week-end,
For personalized real estate consultation contact the TOP Team:
Carol Williams TopTeamCarol@gmail.com
Shelley Granger TopTeamShelley@gmail.com
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Reader Comments (2)
Congratulations on the Larry Cragun award! I look forward to seeing your name in lights soon!
You're exactly right. A home inspection is vital to getting a clear picture of what's happening with the home, and gives the buyers a good understanding of what safety issues exist with the property. Kudos to you guys for always recommending them, I look forward to seeing the result of this story.