AHIT runs a stupid ad that un-sells their own inspection training school

[jjonas (Jeffrey Jonas)]

@gromicko

I think that is over already.

Maybe in your little area of Colorado, but definitely not in the ‘real’ world!!

Here is an excerpt from our Chapter President in a letter to members a few weeks ago…

"I have been interviewing several Realtors I have known for many years about their experience in the market. As we know, the market has swayed at an alarming rate to buyers foregoing a home inspection in order to have a better chance of success to win the bidding process. I understand why buyers may be taking this risk in this highly competitive market, but I am confident that most buyers have no idea of the plethora of problems they may have just inherited. I have some data to share below based on the interviews.

Of the Realtors I have interviewed, the range of buyers foregoing an inspection when submitting an offer is between 15% and 30%. I have asked the Realtors about what could be done to discredit the trend of an offer with no inspection contingency. Some have a form they have the buyer sign which states they have advised a home inspection and the buyer has opted out per their signature. Other Realtors have not heard of or implemented this practice to safeguard themselves from potential backlash and possible litigation for a deal that went upside down.

The consensus between the Realtors was that regarding a home inspection, their influence and suggestions only went so far. In that, even after advisement and possible consequences of buying a home with no inspection was ultimately the decision of the buyer. Most Realtors will strongly push for an inspection. Some I know will not write an offer without the inspection contingency, period. One Realtor I have worked with for years made mention of a new listing that went live; there were 21 immediate offers received with 19 of them having NO inspection contingency! 19 of 21 offers….WOW. Not all offers are like this by any means, but that answer caught my attention nonetheless."