MIC with Buy Back Guarantee

(Tim Williams, CPI) #21

Nick,

Add me to the confused. In another post started by Dennis Bonner you state in one word that the MIC does not qualify the buyer for the Buy Back Guarantee. And as James Braun stated above, the FAQ states that the guarantee is only valid for a buyer’s inspection.

We just need to figure out what we can and cannot offer clients and not put ourselves at risk.

Thanks.

Tim

(Nick Gromicko, CMI) #22

We’ll honor it for buyers of a home you inspected for the seller. One could argue that the ultimate purpose of a MIC inspection report is “for a buyer” anyway, and we agree with that argument. However to keep our program simple from a marketing standpoint, we aren’t adding this explanation to our “fine print” section of www.nachi.org/buy

(Michael L. Marlow, CMI, TREC-22424) #23

Nick,
That’s great to finally have ironed out. How about adding something to the MIC page so that we can refer to that to sell those inspections? It would really make the MIC program even stronger if it had that kind of backing. I could see the buyers looking at the report and taking it even more seriously if the inspector was backing it up with the buy back.

Mike

(Laura A. Ward) #24

Seller wants a “major systems only” inspection - no interior doors, floors, ceilings and the like. I’m thinking that won’t work for MIC and not perhaps not with the buy back guarantee because the full home wasn’t inspected.

I understand anyone purchasing an inspection has the option to opt out of certain portions of it. So bottom line, how would this affect MIC and buuy back guarantee?

(James E. Braun, CMI) #25

You cannot do the that inspection with MIC or BBG

(Wayne K. Thurber) #26

I’ve never understood how people can say that about a sellers inspection. If you’re doing a “major systems only” inspection, you aren’t abiding by the S.O.P. as near as I can understand. IMO, that leaves you open to lack of insurance coverage and coverage by interNACHI if you’re selling yourself as a certified inspector who is not abiding by the requirements of that certification (if that makes any sense).