So You're Home Buyers Page
Two Deadly Mistakes Every Home Buyer Should Avoid
Deadly Mistake #1: Not hiring a buyer's agent to represent you.
Buying property is a complex and stressful task. In fact, it is often the biggest, single investment you will make in your lifetime. At the same time, real estate transactions have become increasingly complicated. New technology, laws, procedures, and competition from other buyers require buyer agents to perform at an ever-increasing level of competence and professionalism. In addition, making the wrong decisions can end up costing you thousands of dollars. It doesn't have to be this way!
Work with a buyer's agent who has a keen understanding of the real estate business and the local market. A buyer's agent has a fiduciary duty to you. That means that he or she is loyal only to you and is obligated to look out for your best interests. A buyer's agent can help you find the best home, the best lender, and the best home inspector in your area. That inspector should be an InterNACHI-certified home inspector because InterNACHI inspectors are the most qualified and best-trained inspectors in the world.
Trying to buy a home without an agent
or a qualified inspector is,
well... unthinkable.
Deadly Mistake #2: Getting a cheap inspection.
Buying a home is most likely the most expensive purchase you will ever make. This is no time to shop for a cheap inspection. The cost of a home inspection is small relative to the value of the home being inspected. The additional cost of hiring a certified inspector is insignificant by comparison. As a home buyer, you have recently been crunching the numbers, negotiating offers, adding up closing costs, shopping for mortgages, and trying to get the best deals. Don't stop now! Don't let your real estate agent, a "patty-cake" inspector, or anyone else talk you into skimping here.
A couple of notes about Mistake #2:
Over the years, we have learned a couple things that might be helpful for you to know:
1. YOU GET WHAT YOU PAY FOR. A Licensed, Experience Home Inspector can save you thousands (we've seen tens of thousands saved many, many times). So why are you going to try to find the lowest priced inspector? Are you willing to risk the tremendous investment you'll be making in a home...to someone who may have just finished a correspondence course on inspecting? Someone who retired or downsized from corporate life and decided that it might be fun to try Home Inspection?
Do yourself a favor. Whether it's Eye Spy or another company,
select someone who is licensed, bonded, insured and has experience
in the building, inspecting, repairing and maintaining homes.
You might pay an extra $100 -- but our experience has proven:
YOU WILL NOT BE SORRY.
(And if you decide that your main priority is price, let us know. We will give you the number of the lowest price inspection company in the area. Along with a disclaimer.)
2. YOUR AGENT MIGHT HAVE A CONFLICT OF INTEREST. In many states, legislation has been passed to prevent Real Estate Agents from referring Home Inspectors. This has come about as a result of an apparent conflict between the best interest of the buyer (who wants to make sure they are getting a sound home) and the Agent (who wants to make sure the sale closes and they are paid their commission.
Now... we're not saying that your agent doesn't care about you or your purchase. But you should be aware about this potential conflict of interest. You should also know that some agents have Inspectors "in their pocket" (..um, the ones who will not report on any but the most significant damage. The inspectors who are definitely more on the agents side than yours), and that there are agents who ask us not to put information on an inspection report because they're worried it will scare the buyer, and delay or destroy the sale.
We don't market to get business from agents, and we don't pay money to be on any Agent or Real Estate Office's preferred vendor list. We feel that doing so makes us more beholden to them, than it does to you.. our customer.
Do yourself a favor and hire your own Licensed Home Inspector.
After all, you're talking about hiring
someone to help you make an
intelligent decision about the largest investment you will probably ever make.
Shouldn't you make sure your inspector
is working 100% for you?
