Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Good Ideas
Nusetlock.com




REO Prep Foreclosure Listings




BPO REO Secret System




How To Advertise Here

More Good Ideas!
real estate newsletters


Real Estate Websites for Realtors




Build your brand on a Real Estate Site





Facebook
Topic Options
Rate This Topic
#71935 - 01/06/06 11:10 PM Availability of inspection reports
RealtorBarbaraT Offline
Member

Registered: 06/25/05
Posts: 452
Loc: Wantagh, NY
My partner and I had a discussion today after one of the deals we had feel thru (for financial reasons) and another buyer was looking at the house. The buyers asked about some structural issues which we knew had been addressed in a prior inspection that were a non issue. Of course we only had what we heard as something to go on (the engineer wanted us to hear all he had to say). And we said it is too bad that the report was not there for us to refer to when answering such questions. Now I know the previous buyer paid for this and therefore has the right to own the report, but we were wondering if there would come time in the future that this report would be required to be available to all to see or maybe have a copy include with the papers.

I know some seller will have pre inspection, but I am sure buyers will not believe that is all there is and request their own inspector, but it all does seem waste when a house seen and bid on by multiple buyers and when the deal falls thru that report goes to waste.


Also on a second issue: a home that is sold as is, aside from the things that are required by law to be corrected, what are the options of the buyer or even the seller if some other things ( like needing regrading or a brick facade is coming lose but the integrity of the structure underneath is not affected) comes up?
_________________________
Century 21 American Homes
http://newhorizonsrealtyteam.com
http://www.wantaghrealtorbarbaratretola.com

Top
#71936 - 01/07/06 12:05 AM Re: Availability of inspection reports
Kathy578 Offline
Member

Registered: 01/05/06
Posts: 66
Loc: Ohio
The report and all the information included in the report belongs to the person who paid for it. Whether they decide to share is up to them.

Top
#71937 - 01/07/06 07:51 AM Re: Availability of inspection reports
Jim Erickson Offline
Veteran Member

Registered: 03/31/04
Posts: 509
Loc: Twin Cities, MN
 Quote:
Also on a second issue: a home that is sold as is, aside from the things that are required by law to be corrected, what are the options of the buyer or even the seller if some other things ( like needing regrading or a brick facade is coming lose but the integrity of the structure underneath is not affected) comes up?
AS-IS property listings tells me that the seller either has never been an occupant (bank owned, trust-held, etc) or it is a distressed seller. Any required repairs are negotiable, more so in the first case and highly unlikely in the second case.
_________________________
Twin Cities Real Estate Services

Top
#71938 - 01/07/06 08:06 AM Re: Availability of inspection reports
Russel Ray Offline
Moderator

Registered: 12/30/04
Posts: 241
Loc: San Diego CA
 Quote:
Originally posted by Kathy578:
The report and all the information included in the report belongs to the person who paid for it. Whether they decide to share is up to them.
That depends on what state one is in.

Here in California any inspection reports for the buyer "shall" (a legal word) be provided at no charge to the sellers. It then becomes part of the disclosure process in this state. As much as we home inspectors in California want our reports to be confidential documents which either the buyer or the home inspector own, it just simply isn't so, notwithstanding anything in our home inspection contracts with our buyers. See the Leko decision from January 2001.

Top
#71939 - 01/07/06 08:09 AM Re: Availability of inspection reports
Russel Ray Offline
Moderator

Registered: 12/30/04
Posts: 241
Loc: San Diego CA
 Quote:
AS-IS property listings tells me that the seller either has never been an occupant (bank owned, trust-held, etc) or it is a distressed seller. Any required repairs are negotiable, more so in the first case and highly unlikely in the second case. [/QB]
There's one more definition of "as is" here in San Diego: "I don't care what's wrong with the house. If it's not legally required to be fixed (working smoke alarms, seismic strapping at water heaters), I'm not fixing it. So don't send me a list of requested repairs because they're not going to get done."

Top
#71940 - 01/07/06 12:57 PM Re: Availability of inspection reports
Kathy578 Offline
Member

Registered: 01/05/06
Posts: 66
Loc: Ohio
 Quote:
Originally posted by Russel Ray:
That depends on what state one is in.

Here in California any inspection reports for the buyer "shall" (a legal word) be provided at no charge to the sellers.
I learned something new today \:\)
Thank you Russell.

Top
#334858 - 04/15/10 09:11 PM Re: Availability of inspection reports [Re: RealtorBarbaraT]
EagleEye Offline
Member

Registered: 04/09/10
Posts: 12
Loc: Raleigh,NC
[quote=RealtorBarbaraT] I know some seller will have pre inspection, but I am sure buyers will not believe that is all there is and request their own inspector, but it all does seem waste when a house seen and bid on by multiple buyers and when the deal falls thru that report goes to waste. [/quote]

But the report does not go to waste. It was used by the buyer that passed on the deal to determine it was not the right choice for them. Home inspections are a snap shot in time. Often sellers will make changes and repairs to a home based on input from agents and the cancelled offer. The last home inspection is no longer valid because the house has changed condition.

Different home inspectors will find different defects due to training, experience, and diligence. Multiple inspections, and consequently reports, will provide a more indepth picture of the property. If 2 buyers hired me to inspect the same home, one in the morning and one in the afternoon, I would inspect the house twice and write 2 reports. It is likely I would find additional items at the afternoon inspection that I overlooked in the morning.

Top






Moderator:  Inspectorjeff 
Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Good Ideas!
real estate newsletters




How To Advertise Here

Sponsors

Newest Members
JakeRoberts, JaneLee, CourtneyFields19, toorgeman123, D best Realtor
21441 Registered Users
Who's Online
7 registered (6t8ssgirl, HONEY, CandyMan, LVNV REO GAL, barb43, 2 invisible), 122 Guests and 1 Spider online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Vermont 79
KingofBPOs 56
Brit16 51
DueDiligence 36
super realtor 36
Bigtoe 35
Averis 34
johnnyloans 33
SoldWithVideo 32
Kjmendy 29
RIzwan 29
Scintillion 25
75Corvette 24
Doin' bpose 24
Brad - W4BJM 22
(Views)Popular Topics
No new orders today 4758874
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 2709035
Stupid MLS comments. 959200
EML 458010
Evalonline 299690
What do you know about Froy Candelario, top agent in USA 291128
Land America 285007
New HUD Listing Brokers---Any Update? 269853
Mainstreet 261768
Pay it Forward - BPO/REO Tips & Tricks I & II 239470
Stupid QC comments and BPO requirements. 230919
Is there religious content in Buffini class? 225927
FARVV 177251
REOTRANS 160826
Let's talk about our cars 147926
USRES / RES.NET 147658
asset val seminar in colorado 144141
AVM Bpos 139643
FARVV 126764
PAS 118332
Featured Member
Registered: 09/16/05
Posts: 431

How To Advertise Here


This site presented by RNC Internet Services