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  1. #1
    Join Date
    Sep 2009
    Location
    Twin Cities, Minnesota
    Posts
    150

    Default Money back if short sale is declined

    I just got an email from a realtor that there's an inspector in our area that is offering to do an inspection at the time the short sale agreement is sent to the bank, but will refund the price of the inspection if the short sale offer is not approved by the bank. He was wondering if I'd offer that service.

    Just wondering if any other inspectors are doing this (and why!), or if you've run into anyone offering this service.

    I let the realtor know it didn't seem like a good business move for me, but I'm curious to hear other's opinions.

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    F.I.R.E. Services
    -Jon
    Errickson Home Inspections, LLC
    http://www.erricksonhomeinspections.com

  2. #2
    Join Date
    Mar 2007
    Location
    Mesa AZ
    Posts
    1,181

    Default Re: Money back if short sale is declined

    Quote Originally Posted by Jon Errickson View Post
    I just got an email from a realtor that there's an inspector in our area that is offering to do an inspection at the time the short sale agreement is sent to the bank, but will refund the price of the inspection if the short sale offer is not approved by the bank. He was wondering if I'd offer that service.

    Just wondering if any other inspectors are doing this (and why!), or if you've run into anyone offering this service.

    I let the realtor know it didn't seem like a good business move for me, but I'm curious to hear other's opinions.
    Sounds like a hungry inspector that's asking to go broke . He needs to get his head out of the sand and take Brians cost of doing business course.. Or a nickie certified that took some nicki "free' " training dreaming up ways to get into a real estate office.
    If short sales close in your part of the country like they close in AZ [ 6 months or never with the origional buyer ] he will have a less than a 30% chance that the buyer will wait for the home to close.

    Last edited by Dan Harris; 12-20-2010 at 11:57 AM.
    Phoenix AZ Resale Home, Mobile Home, New Home Warranty Inspections. ASHI Certified Inspector #206929 Arizona Certified Inspector # 38440
    www.inspectaz.com

  3. #3
    Join Date
    Mar 2008
    Location
    Charlotte NC
    Posts
    2,303

    Default Re: Money back if short sale is declined

    That is against the law in NC.

    The beatings will continue until morale has improved. mgt.

  4. #4
    Join Date
    Mar 2007
    Location
    Spring Hill (Nashville), TN
    Posts
    5,847

    Default Re: Money back if short sale is declined

    Quote Originally Posted by Jon Errickson View Post
    I just got an email from a realtor that there's an inspector in our area that is offering to do an inspection at the time the short sale agreement is sent to the bank, but will refund the price of the inspection if the short sale offer is not approved by the bank. He was wondering if I'd offer that service.

    Just wondering if any other inspectors are doing this (and why!), or if you've run into anyone offering this service.

    I let the realtor know it didn't seem like a good business move for me, but I'm curious to hear other's opinions.
    If you were in a licensed state that would be illegal under most of home inspector license laws. It is called a contingency fee and that is a no no.. Since you are an ASHI member is is also not allowed under the ASHI CoE.

    Sounds kind of crazy and reeks of an inspector who is hungry and in dire straights.

    Scott Patterson, ACI
    Spring Hill, TN
    www.traceinspections.com

  5. #5
    Join Date
    Mar 2007
    Location
    Spring City/Surrounding Philadelphia area
    Posts
    3,473

    Default Re: Money back if short sale is declined

    That's nuts. The dude must be starving for work.

    The fact the realtor asked if you'd match this lunacy is mind boggling as well.

    "It takes a big man to cry. It takes an even bigger man to laugh at that man". - Jack Handey

  6. #6
    Join Date
    Sep 2009
    Location
    Twin Cities, Minnesota
    Posts
    150

    Default Re: Money back if short sale is declined

    Actually, the realtor wasn't asking me to match -- he was just curious if I offered that service.

    Scott -- that's good to know about the ASHI Code of Ethics. I wasn't considering offering that service, and now I know I can't as an ASHI member.

    I did look the guy up and he is a NACHI Certified inspector -- is this not part of their code of ethics?

    -Jon
    Errickson Home Inspections, LLC
    http://www.erricksonhomeinspections.com

  7. #7
    Join Date
    Mar 2007
    Location
    Spring Hill (Nashville), TN
    Posts
    5,847

    Default Re: Money back if short sale is declined

    Quote Originally Posted by Jon Errickson View Post
    .

    I did look the guy up and he is a NACHI Certified inspector -- is this not part of their code of ethics?
    That I do not know, but since most associations copy what ASHI has done I bet that it is also against their CoE. Really makes little difference as they do not enforce anything from what I have seen.

    Scott Patterson, ACI
    Spring Hill, TN
    www.traceinspections.com

  8. #8
    Join Date
    Mar 2007
    Location
    Spring City/Surrounding Philadelphia area
    Posts
    3,473

    Default Re: Money back if short sale is declined

    In Pennsylvania, I'm pretty sure our state home inspection law prohibits us from performing home inspections for free.

    "It takes a big man to cry. It takes an even bigger man to laugh at that man". - Jack Handey

  9. #9
    Join Date
    Apr 2007
    Location
    WESTMINSTER CO
    Posts
    1,089

    Default Re: Money back if short sale is declined

    stick a screw driver in my eye please--what yee say about this LISA

    CVF


  10. #10
    Join Date
    Mar 2007
    Location
    Plano, Texas
    Posts
    4,170

    Default Re: Money back if short sale is declined

    Quote Originally Posted by Vern Heiler View Post
    That is against the law in NC.
    Texas, too.

    Jim Luttrall
    www.MrInspector.net
    Plano, Texas

  11. #11
    Join Date
    Mar 2007
    Location
    Mesa AZ
    Posts
    1,181

    Default Re: Money back if short sale is declined

    Quote Originally Posted by CHARLIE VAN FLEET View Post
    stick a screw driver in my eye please--what yee say about this LISA

    CVF
    Charley, I think you will have to PM Lisa and give her permission to answer your question. She may be afraid to answer you because her answer could be considered spam

    Phoenix AZ Resale Home, Mobile Home, New Home Warranty Inspections. ASHI Certified Inspector #206929 Arizona Certified Inspector # 38440
    www.inspectaz.com

  12. #12
    Join Date
    Oct 2010
    Location
    Southwest US
    Posts
    585

    Default Re: Money back if short sale is declined

    AZ also.


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