What did the home inspector miss? Just curious.
As for the purchase. I have to pass this on to a family member.
Typical…just remove the mold, but don’t correct the source
Why did the buyer back out and interNACHI “buy the home back”? The way that article is written reads like interNACHI and it’s inspectors have this program in order to gain possession of a house that tends to be of sub-par quality in order for its memebers to buy houses at lower cost.
A broken GFCI.
You are kidding, right?
No. 11 of the 15 home we bought back have broken GFCIs.
What is it costing the person using the buy back guarantee to have InterNACHI buy it back? For a broken GFCI they must be losing several thousand dollars in closing costs at least.
Yes, but a few thousand is small change for the consumer who wants out… and who would otherwise only have the option of paying a fortune to sue everyone.
It’s a win for everyone, especially the agents who recommend participating inspectors as we use them on all sides of both buying and re-selling the home and we pay them full commissions.
I bet you can guess who they and their entire Keller Williams office uses for their home inspections from then on.
What happens to the inspector that missed something and a house they inspected has to be bought back?
They mysteriously disappear
I’m not sure I understand this buy back program.
How is it that a buyer pays let’s say $300,000 for a house, backs out for a broken gfci, and interNACHI “buys this home back” at presumably a lower price than $300,000? Theres no way interNACHI would be part of this program without making some money.
Brock: The inspector gets rich, essentially. Think about it. That agent runs back to her real estate office and explains that she is now getting 3, maybe even 4 (if she finds the consumer another house) commission checks… and no lawsuits… and no bad-mouthing on social media… and fat commission checks from all sides.
The home inspector now owns that office, every agent uses him/her from that point on. It’s a real career-maker for the inspector.
Jacob, we don’t buy the home back “for a lower price.” We pay whatever the consumer paid for the home. See www.nachi.org/buy-faq
What about the Mold that House On A Rock reported on?
Mold is outside the scope of a home inspection (and is often a separately licensed profession). The seller paid to remediate the mold or mildew. The documentation is a link on www.nachi.org/collington
Update: We just closed on this home. We paid cash. We’ll have it listed for sale by next week.
Nick, you’re the best!
Home Inspectors missing Broken GFCI’s? That’s a sad statement. Better get Ben on top of that Nick.
As for the home. My brother is moving to the state to be close to his daughter. I though it might fit his needs. Happy it went well. Someone just made 60K. Good for them!
Tell your brother I’ll make him an awesome deal. We’re doing some repairs this weekend and it will bet listed for sale by next week.
Will do, Nick. Thanks.
He is currently waiting for his rural home to get a solid offer before he starts looking, so I have learned.
He was a VP for a large firm traveling around the world and has a wonderful home and pool. But 2 months and no bites as of yet. I will keep him posted.