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First time buyer frustrations

Posted by ultraviolet (My Page) on
Thu, Jun 18, 09 at 12:29

My brother and sister in law finally decided they wanted to buy a house so they had asked me for advice and what to look for/avoid since they had no clue where to start.

They got a RE agent, saw some houses and put in an offer on one they liked. Offer accepted (the house had been empty for a year, they WAY overpaid but the RE agent convinced them that they shouldn't offer less because of what the owners paid for it from the builder 5 years ago!) and I got them the name of a well recommended home inspector and really stressed the obvious importance of one since they can't/won't do any repairs themselves and even though it's under 5 years old, it was built by Centex.

When they first started looking, the agent told my brother/SIL that he could get them an inspector but my brother told him he had one that came recommended. However, the agent apparently kept pushing his inspector, to the point that he said he'd pay for it. My brother, the apparent sucker, who initially thought it was weird that the agent would push for one guy, decided he'd cheap out and go with the agents "inspector" (not a member of NACHI/ASHI).

The day of the inspection, my parents were to meet the agent/inspector since my brother and SIL had to work. They get there almost an hour before the time they were supposed to and SURPRISE! the inspector was already "almost done". Not only that, but since the owners of the house moved to Florida, there was no power and not only did the inspector not test ANYTHING electrical (so that means also heat pump and water heater) but the agent said it wasn't a big deal since he was throwing in a HOME WARRANTY for free.

(At this point, that glass you hear breaking is my head banging through it in frustration)

I just really hope that I'm not saying "I told you so" in the near future. I'm also hopeful that they don't have to sell in the next couple of years because they'll be losing a whole lot of money if they do.


Follow-Up Postings:

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RE: First time buyer frustrations

Well, what can you do? Sometimes, despite the best guidance available, people have to make their own mistakes in order to learn the big lessons in life. Very frustrating for family members who care and try to help! Good for you for trying!


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RE: First time buyer frustrations

ultraviolet, it would not matter if the HI was a member of a professional organization, as the organizations all work on the honor system and at the most wrist slap when a member is reported for violating the SOP's pr COE's.

That said, depending upon the state in which this occurred, they may license the profession. If so, there are standards that the HI to which the HI must adhere, or risk disciplinary action or license suspension.

Of course, the buyers would have to be willing to move forward with a complaint.
The REA not only dropped the ball in referring this yo-yo to them, but in also not making sure that the electricity was turned on in the home, and acted unethically in volunteering to pay for the inspection. This is a prime example of an REA who is only concerned about closing the deal.

Last but not least, houses do NOT like to stand empty. All sorts of issues can occur in a house that has been empty for a year. As the HI was clearly not there long enough to find much of anything, they can take his report and uses it for wallpaper.

I do hope that in the end they don't get burned by their actions, but chances are that will not be the case.


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