I was not totally serious about it when I said it which is why I put that ‘smiley’ there but that dude in the video clip could have saved 1000s if he didn’t skip the inspection.
Just a couple of weeks ago, I got a call to inspect a house in Toronto. It was a +50 year old house. I could not find it on MLS. Found out that it was already sold, I know - none of my business. On the day of the inspection, I was told that the buyer had waived the inspection condition because of multiple offers on the house and they were getting the inspection done after the fact.
I found vermiculite in the attic and some electrical issues. Not a deal killer but I think they should have/deserved to know about it before they bought the house. I bevel I had a vermiculite question here on the same house that I am talking about.
Ok how about if the house is +40 years old, the lender requires a home inspection?
I can see the validity in both points of view here. On one hand, we are saying that in order to protect themselves from buying a lemon, it is sensible that they have an inspection, on the other hand it is a free country and people can choose to invest in what they want, good or bad investment.
Roy is right, people shouldn’t be forced to have an inspection, but at the same time, when they do, the inspector should be able to identify prior to the inspection EXACTLY what the client is going to get for their money.
No amount of training and no amount of equipment is going to tell you what’s behind a drywall or in a sealed attic. Sometimes people realise that, and are astute enough to balance the risk of what they can see against the risk of what no-one can.
We shouldn’t take that right away from them.
It’s when this sort of risk management is taken by people unaware of what’s in front of them, either because they are not adequately informed, or they are pressured into making a snap decision by high pressure salespeople.
That’s when, for possibly the largest investment anyone is likely to make personally, the current Canadian realty model fails. That’s when “Caveat Emptor” is not such a great rule of law. That’s why proper consumer education and accurate, professional and ethical inspection services are important.
