"Why Do I Need an Inspection Report?"

I cringe when folks are buying directly from a seller, come to me for a mortgage and review the purchase agreement, there is no home inspection clause and then when I bring up home inspection, they ask why they need one.

I spent over a half hour explaining in an attempt to convince these clients that they should have a home inspection done. No luck at all, but this uneasy feeling continued through the application process.

It finally hit the fan when the appraisal was done, as the appraiser recommended that a licensed contractor view the roof and the shingles were starting to curl. I sent them a copy of the appraisal and went over the appraisers comments and explained that a licensed contractor will be needed to inspect the roof.

I gave them a recommendation for a roofing contractor and they made arrangements for the inspection. The contractor told them the roof would need to be replaced within a couple of years or sooner, but they were also told that there were a couple of water stains around the chimney that should be handled pretty soon.

They spoke to the sellers (the fun part) and they were told the roof is just fine. They are now contemplating losing their $1000 deposit and walking away from this property. The estimate for the roof replacement was $12,500. Money that they just don’t have.

This could have been easily avoided if they were represented by a Realtor. They are actually fortunate that they only had a $1000 deposit, the seller wanted $5,000. Do you think the sellers already knew the problems?

Image courtesy of stuart miles/freedigialphotos.net