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  1. #1
    Join Date
    Mar 2007
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    Chicago, IL
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    2,797

    Default 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 (!)

    F.I.R.E. Services
    Michael Thomas
    Paragon Property Services Inc., Chicago IL
    http://paragoninspects.com

  2. #2
    Join Date
    Dec 2008
    Location
    Maryland
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    2,776

    Default Re: A new record...for me. anyway...

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


  3. #3
    Join Date
    Mar 2007
    Location
    Ormond Beach, Florida
    Posts
    26,243

    Default Re: A new record...for me. anyway...

    Quote Originally Posted by Michael Thomas View Post
    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!

    Jerry Peck, Construction / Litigation Consultant
    Construction Litigation Consultants, LLC ( www.ConstructionLitigationConsultants.com )
    www.AskCodeMan.com

  4. #4
    Join Date
    Jul 2010
    Location
    Eatonville, WA
    Posts
    19

    Default Re: A new record...for me. anyway...

    Quote Originally Posted by Jim Abram View Post
    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.

    Glenn Cummings
    Eatonville, WA.

  5. #5
    Join Date
    Feb 2013
    Location
    NY
    Posts
    48

    Default Re: A new record...for me. anyway...

    Quote Originally Posted by Jerry Peck View Post
    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,


  6. #6
    Jack Foster's Avatar
    Jack Foster Guest

    Wink Re: A new record...for me. anyway...

    Quote Originally Posted by Jim Abram View Post
    "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!


  7. #7
    Ted Menelly's Avatar
    Ted Menelly Guest

    Default Re: A new record...for me. anyway...

    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.


  8. #8
    Join Date
    Feb 2008
    Location
    New York
    Posts
    869

    Default Re: A new record...for me. anyway...

    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.

    Steven Turetsky, UID #16000002314
    homeinspectionsnewyork.com
    eifsinspectionsnewyork.com

  9. #9
    Join Date
    Mar 2007
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    Spring City/Surrounding Philadelphia area
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    3,473

    Default Re: A new record...for me. anyway...

    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.

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

  10. #10
    Join Date
    Feb 2013
    Location
    NY
    Posts
    48

    Default Re: A new record...for me. anyway...

    Quote Originally Posted by Nick Ostrowski View Post
    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.


  11. #11
    Join Date
    Mar 2007
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    Spring City/Surrounding Philadelphia area
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    3,473

    Default Re: A new record...for me. anyway...

    Quote Originally Posted by Phil brody View Post
    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.

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

  12. #12
    Join Date
    Feb 2013
    Location
    NY
    Posts
    48

    Default Re: A new record...for me. anyway...

    Quote Originally Posted by Nick Ostrowski View Post
    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.


  13. #13
    Join Date
    Mar 2007
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    Spring City/Surrounding Philadelphia area
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    3,473

    Default Re: A new record...for me. anyway...

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



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

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