1. This Board Rocks has been moved to a new domain: CarolinaPanthersForum.com

    All member accounts remain the same.

    Most of the content is here, as well. Except that the Preps Forum has been split off to its own board at: http://www.prepsforum.com

    Welcome to the new Carolina Panthers Forum!

    Dismiss Notice

Inspections

Discussion in 'Money & Finance Forum' started by LBlues 1, Jan 7, 2011.

  1. LBlues 1

    LBlues 1 Full Access Member

    Posts:
    1,109
    Likes Received:
    0
    Joined:
    Jul 31, 2003
    Are inspections worth the money?
    If an inspectors misses something major, they are not liable or if they do not tell you something, they are not liable so what good are they?
    Do not believe a real estate person would be held liable either unless you could prove they had actual knowledge of a defect that damages the value of the home.
    I am familar with a case where inspector lied about checking a heating system, knew it was not properly hooked up, yet said it worked fine, the buyers bought the home based on the inspectors report and then had to spend $4500 to get the heat to work. They sued the inspector and real estate agent and lost!:shout:
     
  2. Golden Hammer

    Golden Hammer South Pole Elf

    Age:
    58
    Posts:
    10,189
    Likes Received:
    0
    Joined:
    Feb 27, 2005
    Location:
    Charlotte
    The inspection is more for the mortgage company than for the purchaser.
     
  3. LBlues 1

    LBlues 1 Full Access Member

    Posts:
    1,109
    Likes Received:
    0
    Joined:
    Jul 31, 2003
    Why

    Would the mortgage company not want to know about a defect that could affect the value of the property? Would they not want a known issue addressed? I would think they would if they are going to own the property until the buyer pays them off.
     
  4. Golden Hammer

    Golden Hammer South Pole Elf

    Age:
    58
    Posts:
    10,189
    Likes Received:
    0
    Joined:
    Feb 27, 2005
    Location:
    Charlotte
    Which is why they require an inspection. And why they typically require a company they choose to do the inspection.
     
  5. cmmguy

    cmmguy *

    Posts:
    2,996
    Likes Received:
    0
    Joined:
    Apr 27, 2006
    An inspection is not a warranty.

    If the realter or homeowner knowingly misrepresented something about the house you would have more luck in getting a remedy.
     
  6. LBlues 1

    LBlues 1 Full Access Member

    Posts:
    1,109
    Likes Received:
    0
    Joined:
    Jul 31, 2003
    Agree

    All were pursued in the case I mentioned but owners were divorced and both had left the area and could not be served.
    My point, the inspector knew the heating system was not hooked up yet failed to mention in his report. He admitted after the fact and the judge still found he had no liability. Forget warranty of an inspector, just professionalism, common business ethics, the homeowner purchased a house with a known defect and paid additional funds to fix house, the homeowner had to pay the fee for inspection and still suffered additional cost by taking the issue to small claims court.
    My point, there should be some professional requirements for reporting a known defect, with no liability on inspector, he can be bought very easily by Realtor or highest bidder, so to speak to make sure sale goes through quickly.
     
  7. Grayson

    Grayson Banned From TBR

    Posts:
    8
    Likes Received:
    0
    Joined:
    Jan 24, 2011
    Location:
    USA
    I think insurance is worth less ans waste of your money if you take care of yourself and your property very well. An honest business man never want to have insurance money unnecessarily but most of the big companies mostly rely on the insurance money claims in case any mishap.
     
  8. ccarlos196

    ccarlos196 Banned From TBR

    Posts:
    2
    Likes Received:
    0
    Joined:
    Jul 18, 2011
    I am familar with a case where inspector lied about checking a heating system, knew it was not properly hooked up, yet said it worked fine, the buyers bought the home based on the inspectors report and then had to spend.
    ________________
    Search Engine Marketing
     

Share This Page