Bingo! You win!
This also goes into every copy of my [Interactive Report System](http://www.abouthomes.info/files/NACHI/IRS for NACHI members.pdf):
And I’m thinking about putting this into Version 3 of my Interactive Report System:
The only “inspection” that is figured into closing costs here and in the other seven states where I have worked are appraisals. So I can’t even agree with your “most” disclaimer, and I certainly cannot agree under any circumstances with your statement that “all expenses are worked into closing in many transactions.” NOT!
Extremely common here. I run into it all the time. It may not be law or anything, but it is becoming extremely common. Especially in 100% financing loans, which as we all know are extremely popular.
It is for me. Difference in inspection protocols. But there’s nothing wrong with that.
I don’t. Every manufacturer I know of, as well as every utility company, recommends inspecting gas-using appliances annually. I’ll go with that. They surely know more than I do. So if the seller cannot prove that their unit has been inspected within the last 12 months, then let’s get it done, and let’s get it done now, before close of escrow.
Two different appliances. Waaaaaaaaaaaaaaaaay different. I don’t know of any dishwasher manufacturer that recommends having their dishwashers inspected annually. Nuff said on that one. Apples and oranges. Walnuts and raisins. Margaritas and beer.
You can give me a red box if you want. Please?
I remember something else that you said was extremely common in Washington, yet every other Washington inspector chimed in to say that it was not. I’m going to have to let that one sit for a while. Certainly if that were true, there might be more inspectors getting paid through escrow rather than at the time of the inspection.
Certainly adding buyer-related inspection expenses into escrow closing costs is not common in most states, and it was not common in Washington the last time I did anything there, which was 2000. certainly things can change, but somehow I doubt that they have changed that much in six years.
Nonetheless, you may also give me a red box if you please. Thanks.
Not every other Washington inspector has taken their Real estate license have they?
And no they didn’t. I think one or two, and considering how many are actually in Washington, I don’t think this board and it’s members represent the thoughts and experience of all inspectors everywhere. So that argument doesn’t hold water.
The State of Washington doesn’t show you as having a real estate license:
[FONT=Arial]https://fortress.wa.gov/dol/dolprod/bpdLicenseQuery/lqsLicenseDetail.aspx?SessID=2850&RefID=2129822](https://fortress.wa.gov/dol/dolprod/bpdLicenseQuery/lqsLicenseDetail.aspx?SessID=2850&RefID=2129822)[/FONT]
[FONT=Arial]http://dor.wa.gov/content/home/BRD/Results.aspx?RequestType=2&Criteria=Wendy+Forsyth&City=Shelton[/FONT]
And if I remember correctly, they provided definitive proof that you were wrong, at which point you took a four or five-day vacation from the NACHI message boards.
Since I’ve been here waiting for employees to return from today’s inspections, and watching Star Trek: Voyager, I just decided to do some checking, especially since Ms Margarita and Dr Cuervo are not here to distract me. Here’s what I found:
I talked to Washington Realtors in Olympia at 800-562-6024. They responded that “It is generally the obligation of the buyer to arrrange and pay for any inspections on the property. Certainly the buyer can arrange to pay for inspections through escrow but that generally is not done for home inspections.”
I got the same response from Realtors at:
RE/MAX Metro, Seattle, 206-322-5700
Century 21 North Homes, Seattle, 800-531-0021
Century 21 Advanta, Spokane, 877-728-2100
Prudential Vancouver Mall, Vancouver, 360-256-1120
Coldwell Banker Everett, Everett, 425-290-7510
The lady at Zip Realty Seattle was kind enough to fax me a copy of what she said was the standard Washington real estate purchase contract. It says, “Unless otherwise provided in this Contract, the Evaluations & Inspections shall be paid for by Buyer and shall be conducted by individuals or entities of Buyer’s choice.”
All of them also said that if the home inspection fee is negotiated so that the seller agrees to pay for it, many times it is then paid as part of the closing costs. But that also is not what generally happens since the buyer generally pays for all inspections on the property.
I’ve always tried to give you the benefit of the doubt, but sometimes you do lose even me.
RR
I don’t know how this thread got from testing CO to escrows but it did take that turn. When you get paid or how is no concern of mine.
I do not play with the boxes my grandchildren do though:)
I have a high respect for your knowledge in this business as you appear to be very knowledgeable. Yes I would agree that we have different business protocol and I am sure what you do works for you or you would not be doing it. Mine also works for me.
I have been basically using you as a sounding board trying to get some forward moving thinking from some of the other inspectors. We get mostly peekers not many folks willing to provide their own thoughts. SILENCE!!!
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Yes, but perhaps silence is golden.
I remember what U.S. Senator Phil Gramm (R-Tex) once told me (loosely quoted): “Since only about 50% of people of voting age actually vote, when someone take the time to write me or call my, I take that letter or call as representative of at least two people of voting age.” I do the same with NACHI and all other organizations that I have ever been involved with. Here at NACHI, since we have 9,200 members (plus or minus any invisible members), the voice of the 920 members could logically (courtesy of Mr Spock) be taken as the voice of 9,200 members, so one voice speaks for about 92 members. If I always remember that, then I can get a good idea for what’s going on throughout the nation since this is the largest home inspector trade association (or pseudo-trade association, as the case may be).
Thread drift. It’s common.
Russel,
You have a well known reputation for twisting the facts to suit your POV so you will pardon me if I don’t take your word as gospel that you didn’t just cut and paste all those names and numbers.
Oops! Did I make an accidental reference to religion? I’m sorry.
I bought and sold 7 houses in the last 3 years here in Washington. Not 1 had any mention in the escrow breakdown for the cost of inspections that were paid by me or the other buyers that had inspections. There would be absolutely no reason to have a paid for inspection noted on the HUD-1 Settlement Statement unless there was agreement to have the inspection paid at escrow.
Escrow officers do as little as possible and only plug in numbers that are pre-determined by the parties to the agreement (buyer, seller, mortgage company, title company, realtors, appraisers etc.) Unless they are given specific written directions to add something into the HUD-1, they will not and cannot do it.
I’m going to take this thread back to a CO discussion.
I have a Bacharach Combustion Analyzer. I don’t test at every house - only when the furnace is old or I smell that aldehyde smell that is often produced along with CO. About a year ago, I inspected such a furnace. The furnace itself was producing very high levels of CO (greater than 1000 ppm, if my memory serves me correctly). I then checked at one of the supply registers and measured 8 ppm CO. I informed the client about this and explained to him the potential danger. He called me a week or so later and told me that the HVAC tech that he had come check out the furnace said there was no problem. I told him that I didn’t agree and that he should be careful and at least install a CO alarm. I haven’t heard from him since and hope that everything is ok with him and the furnace.
No mention was made of the escrow officer doing anything. That does not mean that the buyer and realtor do not make allowances for the inspection in the amount the buyer borrows from the bank.
If you had to buy a house, wouldn’t you try to borrow the money at the same time to cover the inspection rather than pulling it out of your own pocket? Not too many people have $4-500 in their pockets for multiple home inspections. :roll:
Absolutely NOT. Why would I want to pay interest for 30-40 years on a $400 payment. That is almost as bad as people who put their house at risk with a first, second or third mortgage to pay off a credit card. STUPID. You risk your house for fast food, clothes or trips that you shouldn’t have bought if you didn’t have the money.
And you have a pretty well-established reputation for, well, for not necessarily telling the truth, for shooting from the hip without having all the facts, etc. Some would say for simply outright lieing. As I have said, I’lve always given you the benefit of the doubt, but when someone does prove you wrong, as I have done here, you lose even me.
My employees and friends (that group doesn’t include you at this point) say I have a reputation for finding the truth, and digging deep to find it. I think it’s been found here.
Why would you apologize for making a reference to religion, accidental or otherwise. Nice segue to get away from what obviously are mistruths, lack of facts, or lack of knowledge on your behalf.
Wendy, Wendy, Wendy.
If that wasn’t so funny, I’d be crying.
You’re way off base.
I don’t even know where to start, but I suspect I really don’t need to.
I really do think you’re more intelligent than that.
Nonetheless.
Who said anything about multiple home inspections? And you’re just not going to find a bank that will finance inspections just because. Certainly one could get a signature loan to finance inspections, or even charge them to a credit card (that is a type of bank financing), but to be naive enough to state that the buyer and Realtor make allowances for the inspection in the amount the buyer borrows from the bank is, simply, pitiful.
Although one can finance closing costs, it’s going to be rare, extremely rare, virtually unknown, to find a first mortgage bank that finances the closing costs. That would put the cost of the home above the appraised price, which no first mortgagor would agree to. I’ve financed many properties to the tune of 105% (the 5% is the closing costs), but it always, always, always involves a second trust deed/second mortgage, and it requires the approval of the seller. A good Realtor will advise the seller to seek monetary compensation for agreeing to let the buyer finance the closing costs. Usually $100 per $100,000 of financing. Even 100% financing requires a second mortgage because the first wants a 20% down payment.
This is absolute BS and you know it.
If someone is going for 100 percent financing, then it’s extremely doubtful that they have the cash just laying around to pay possibly multiple inspectors. Would you rather they forego the inspection rather than borrow the money?
I sure would hope not. :roll:
You REALLY think alot of yourself don’t you? It’s sad everyone here has contributed to that swelled head. :roll:
Do you think that everyone just finds the right home on the first try? Is it possible that just maybe someone may end up passing on a home and then having to pay for an inspection for the next they decide on?
None of what you posted above is applicable. A load of crap. Kinda like Bryan Lynn and the fact that you have an opinion on every subject and are right about them all. Hmmm… Look who’s calling the kettle black.
Has anyone ever actually looked at your “multiple inspector company”? Where is all of that on your website?
One of my favorites was where you claimed to do 2500 inspections a week. Or was it a month? When so many are struggling to do 250 a year. If we called the franchise, would they confirm your record?
One doesn’t borrow the money for a home inspection as part of the home loan. I think even you know that.
And the property renovation industry would definitely disagree with you about someone going for 100 percent financing not having the casy to pay for multiple inspectors. One can make the most money by using someone else’s money to accomplish one’s goals.