Thank you Robert for the info!
New construction???.. double your price . I hope you are well versed in the Code for Bel Air.
When I retired 5-6 years ago, I would have been at $ 9,750.00. I don’t do facebook and refuse to give out more of my personal info, so I didn’t see the pictures. It is a guesstimate. I would bring my HVAC guy and electrician, roofer, etc.
I made most of my money on high end residential for years and it worked out good but you have to be confident in your pitch.
$65 million, eh? I wouldn’t worry too much about missing things. This is where InterNACHI’s buy-back program really comes in handy…
Kenton, I was actually going to reach out to InterNACHI for that. I use the buy back program for my inspections. Would InterNACHI cover that price tag for a home?
I’d read the fine print on that one, Ian. I know they’ve bought a number of houses, but there may be a price cap, I don’t know. They may be installing one RIGHT NOW! Do you know who at InterNACHI to contact?
I WOULD RUN
Imagine the legal team a person like that could assemble.
Should be done by a medium size firm with several experts and extensive insurance IMHO.
Does sound fun though…
Nick’s sweating now LOL.
Like your thinking Larry. Another way, 10 , 2800 SF homes at my rate $400 wouid work out to 4K.
A lot, and I’d have myself and 4 other inspectors with me, or else it would take two days to inspect.
For what it is worth, I would charge upwards of somewhere between 25k-50k…maybe more once a plan is outlined
I have gotten 10k on 10,000sq feet, 10 million dollar sale
I have seen VIP’s pay prices like that without blinking
I would have a team
I’ve never had a home inspection approaching that for size or price. So, while I am fanaticizing about it, I think I would also have the team approach which means I would charge $15K or more. You are taking on the responsibility for your team and writing the massive report. How much time will this inspection take and what would you earn doing regular inspections over the same time frame? Add the cost of your team to that plus extra for the added liability and responsibility, etc. I don’t do many commercial inspections, but I have had few follow-up conversations on commercial inspections and lots and lots of follow-up conversations with residential. So, I would be prepared for lots of post-inspection conversations with the builder and client.
As I prepare to leave for my first inspection of the day (1500sq ft built in the 80’s), and continue to fantasize about this…we all have Firsts and this would be a major First for me. You need a plan, a team, and know yourself. There are HIs that will jump at this because of their comprehensive experience and competency or (maybe) their supreme over-confidence in themselves. Most HIs, including the best, will contemplate this with great care. If I decided that I was prepared to take this on, I would charge a lot to cover all my conceivable bad-case scenarios and frankly, not be disappointed if I don’t get the job. “Ordinary” home inspections carry a boat-load of responsibility and liability. This one is an aircraft carrier worth of those.
If your client can spend $65 million on a house he likely has an attorney as his best friend or ten of his golfing buddies are attorneys. Don’t get tunnel vision by looking at the potential profit. If you don’t have a good real estate attorney , IMO get one to help draw up a custom contract. You should approach this like a general contractor and sub out the inspection work. But remember allot can go wrong on a house of this size just due to the number of items that went into the construction. You will likely see unique components most home inspectors will never see in their lifetime. Mechanical components will be on an industrial scale requiring specialized knowledge. Remember the last person that inspected an item that later failed or has a defect will be the first person his attorney will call. It’s not my intent to scare you, but to remind you of the risk involved.
Check with you E&O provider, they may not take the risk without a proven history of doing inspections on this scale.
I find it odd your client would ask a home inspector to inspect a house of this size that took an army to build over several months. The general contractor in most states is liable for the first year and all the mechanical components will have a warranty.
OK, that does it. My initial thought was if you have to ask how much, you shouldn’t be doing it. But to play with the NACHI program to try to protect your inabilities is just over the top!
Farm it out to Dale Duffy for a 1% finders fee and be happy!
Contact Dale today at (602) 402-5305 .
This is the best advice.
I’m still a rookie in this business but i can put in my thought.you first have to think about how it will take you and how many inspector you will need to pay for assistance,like some of the cpi on here mention i would call my insurance agent for advice about the value of the home and plus if you have to pay a HVAC roofer,and electrician. I did a home here in Parkland Florida it was 5,305 sq ft. I charged $1,200 for the inspection and wind mitigation and i called home advisor like i was a customer looking for service and they gave me some quotes from different contractors and thats how i prices my job and my price was higher then the quotes i got…Just my opinion…if you need some expert opinions Larry Kage,CMI is the one he gave me some good advice…
That’s exactly the way I consider my inspection fees. Good advice!
Well, I guess it’s my turn. Here’s my 2 cents. I am just a student working on becoming a license home inspector and internachi CPI member. If you are going to hire a helper I am here.