Originally Posted By: bkelly1
This post was automatically imported from our archived forum.
Buying property is a complex and stressful task. In fact, it's often the biggest single investment you will make in your lifetime. At the same time, real estate transactions have become increasingly complicated. New technology, laws, procedures and competition from other buyers require buyer agents to perform at an ever-increasing level of professionalism.
For many homebuyers, the process turns into a terrible, stressful ordeal. In addition, making the wrong decisions can end up costing you thousands of dollars. It doesn’t have to be this way!
Work with a buyer's agent who has a keen understanding of the real estate business and on your side. Buyer's agents have a fiduciary duty to you. That means they are loyal to only you and are obligated to look out for your best interests. Buyer's agents can help you find the best home, the best lender, and the best inspector. Best of all, in most cases, the buyer's agent is paid out of the seller's commission, even though he/she works for you.
Trying to buy a home without an agent at all is, well... unthinkable.
Deadly Mistake #3: Getting a cheap inspection.
Buying a home is probably the most expensive purchase you'll ever make. This is no time to shop for a cheap inspection. The cost of a home inspection is very small relative to the home being inspected. The additional cost of hiring a certified inspector is almost insignificant. As a homebuyer, you've recently been crunching the numbers, negotiating offers, adding up closing costs, shopping for mortgages, and trying to get the best deals. Don't stop now. Don't let your real estate agent, a patty-cake inspector, or anyone else talk you into skimping here.
Many multi-inspector firms require inspectors to perform up to four inspections per day in order to keep their fees low, working on a "volume basis". This could be fatal to the home buyer who is expecting an inspector to spend as much time as necessary to investigate and analyze the biggest purchase they will probably make in their entire lives. Search for an independent home inspector who focuses on quality inspections instead of quantity. His price is higher, but his report is more accurate and more in depth.
Ensure that your home inspector is a member of a national organization that requires its members to adhere to a strict code of ethics and who will consistently operate under a published inspection standard. This will ensure that your inspector is up to date in his training and is not operating on his own whim, making things up as he goes along. He is accountable to that agency's standards and codes. Feel free to check with organization he belongs to in order to ensure he is in good standing with them.
NACHI front-ends its membership requirements. NACHI turns down more than 1/2 the inspectors who want to join because they can't fulfill the membership requirements.
Many NACHI certified inspectors perform the best inspections by far and earn their fees many times over. They do more, they deserve more, and yes they generally charge a little more. Do yourself a favor...and pay a little more for the quality inspection you deserve.
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