Thread: A new record...for me. anyway...

Largest "reasonable" attempted renegotiation to date of an offering price based on defects unknown to the client prior to the inspection as a percentage of accepted offer: 175K on a 700K property (!)

Your wording is a little confusing. "..."reasonable" attempted renegotiation" / "... percentage of accepted offer..."
Was it an offer and rejected or an offer and accepted?

Originally Posted by Michael Thomas

Largest "reasonable" attempted renegotiation to date of an offering price based on defects unknown to the client prior to the inspection as a percentage of accepted offer: 175K on a 700K property (!)

Michael,

As a percentage of the original contract price that is phenomenal!

I had a few greater reductions in price, but as a percentage of original contract price the reductions only come to about 33% reduction ... your's was a whopping 75% reduction in price!

Originally Posted by Jim Abram

I think the original wording is confusing ...

Understanding what words are meant to say is not your strong point Jerry.

Yes the OP is a bit confusing. Jerry is understanding what the WORDS ARE SAYING, not an unfounded attempt to understand what they might try to mean.

Our brains usually allow one thought to dominate. I think I know what the OP means, but I also know what the words mean. When they don't agree, one has to make a decision on what to believe. Jerry is a litigation guy, the WORDS will win everytime.

Originally Posted by Jerry Peck

Michael,

As a percentage of the original contract price that is phenomenal!

I had a few greater reductions in price, but as a percentage of original contract price the reductions only come to about 33% reduction ... your's was a whopping 75% reduction in price!

Maybe - yours was a 25% reduction in price,

Originally Posted by Jim Abram

"The constitution of the United States is to receive a reasonable interpretation of its language, and its powers, keeping in view the objects and purposes, for which those powers were conferred. By a reasonable interpretation, we mean, that in case the words are susceptible of two different senses, the one strict, the other more enlarged, that should be adopted, which is most consonant with the apparent objects and intent of the constitution . . ". .

— Joseph Story (1833)

Eschew obfuscation, espouse elucidation!

1.7 million down to 1.25 was my biggest. Maybe about 3 months ago

I do have to admit that it was not all due to my inspection. It was over priced by at least a couple hundred grand. Definitely a over bloated price. The owner, a builder, that lived in the home swore there would be nothing found in his home. Well, he is a bit old now and maybe not altogether, well, together.

Yes, it needed a great deal of work.

I don't normally end up privy to the final negotiated price, but last season I inspected a 4 million plus house and the seller's agent was there studying my every move. She witnessed each probe and I let her know every time I got a high reading. She watched me take a few core samples, and at one point I dug out some wood from a core (on a structural beam), called her over, squeezed the wood like a wet sponge and then crumbled the wood into her hand .

My client called me while I was driving home and informed my that the seller already called and offered him a $250,000. reduction.

What are the chances some of this money the buyers are saving is being passed along to the inspector in the form of a tip?

Naaaah.

Originally Posted by Nick Ostrowski

What are the chances some of this money the buyers are saving is being passed along to the inspector in the form of a tip?

Naaaah.

You will get a tip as soon as you start tipping your physician for a correct diagnosis or an attorney for winning the case. Saving the client money is your job.

Originally Posted by Phil brody

You will get a tip as soon as you start tipping your physician for a correct diagnosis or an attorney for winning the case. Saving the client money is your job.

I was joking about the tip thing Phil.

Besides, saving the client money is not our job. Our job is to point out defects and help them understand the condition of the property. If our report helps them save money, that is just a byproduct of the job we did.

Originally Posted by Nick Ostrowski

I was joking about the tip thing Phil.

Besides, saving the client money is not our job. Our job is to point out defects and help them understand the condition of the property. If our report helps them save money, that is just a byproduct of the job we did.

Understand the joke, As an inspector/engineer/GC I have been offered tips many times but refused everyone, but then again I have always had work and never spent a penny on advertising and never posted any free advertising in 28 years.I do allow my employees to except tips although.
I believe tipping cheapens the profession.

I have no problem cheapening myself. If they're tippin', I'm takin'.