Considering using this - thoughts from the group on whether it is worth it? Yes, I know it’s only $5/per. There is a registration requirement to maintain also. Go!
Read deep into this thread. It is discussed in depth.
https://forum.nachi.org/t/requesting-help-responding-to-complaint/201119?u=bcawhern1
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@bcawhern1
But do you use it?
I do not. It is a bit gimicky to me. Plus, as seen in that thread I posted…the inspector might be on the hook for the buyback.
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yes I see, I have been reading the post for the last 45 min, wow. I believe I will get out.
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Well, I am not a lawyer, but it seems a bit sketchy to me. At the minimum, I would have your HI insurance company take a look at the fine print. On face value, I do not like the verbiage “We’ll will buy your home”. Who is “We”?
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Will do Brian, many thanks again for your valuable input. Preciate ya
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I think the lessons learned were to always state “InterNACHI will buy your home back,” instead of “We.”
I actually really like the idea of it. The only hang-up I have is that the client will end up paying multiple agent commissions, as I believe those are not covered by the buy-back program.
Agreed, but the buyback program does not say that. Nick said he was going to fix this issue, but I have not seen the change. It was a big stink in that thread I posted. Chris was hung out to dry and on the hook for that home. I do not know the end result.
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The logo I see on the site still says “We” but Nick did say in that thread it would be updated. Everyone is short of help nowadays, lol.
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From what I understood, Kris had one home bought back through the BBG program. The 2nd time around, it was due to inspecting for termites, which is excluded from the BBG program.
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Right, and Kris had to defend it if I remember correctly, not NACHI. (I did not reread the thread)
I would make my insurance company aware and determine if they will defend me under this program.
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Yes, for sure, it would be worth to check it out. Our insurance provider didn’t see it as an added benefit. They stated it was more of a liability than a benefit. However, we use it, I trust Nick would buy back a nice property in PEI. lol
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Besides, I’m too picky, slim chance of missing something… 
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That’s legitimate!
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I’m pretty sure I read in one of the threads that Kris did eventually get let off the hook on the 2nd home (termites), but that the plaintiffs were considering action against NACHI. @ksimpson2 might let us know if he sees my bat signal.
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Yes, it would be good to hear from Kris. 
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I see the bat signal lol!
I did win my case based on the agreement being signed. I was not able to recover my legal costs though. In the end it cost me around $8500 and a few agents referrals lost. That whole office stopped using me. Kind of an embarrassment but as far as I know most agents don’t know about it.
I still do 300 inspections per year and had my best year last year. Honestly every year is my best year, I keep improving.
I dropped the program after that and do not inspect for termites anymore. I only do home inspections, radon testing and mold samples. I wouldn’t ever recommend the program.
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I did have 2 run ins with the Home Buy Back Program. Once in 2017 during my first few months. I missed a foundation issue and InterNachi bought the home back. No body knows about that in my area. It did not improve my business at all.
The other run in with the program was last year 2021 I was sued because they denied to buy the home back based on termites. It’s not included and I don’t fault Nick for it but my client saw the “Well Buy The Home Back if We Miss ANYTHING”
I did miss something so the clients lawyer thought I should be on the hook for the home buy back. In the end I only had to refund the inspection fee which the client refused and they dropped the case against interNachi as far as I know.
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Thanks for the update on this, Kris.
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