How can a buyer that cannot afford an inspection afford a house?
It is my understanding, that in some areas of the country, it is common, or becoming common, for the home inspector to not get paid until closing. I am doing my best to understand the reasons for this practice. Where is the money coming from if it is not ultimately coming from the buyer?
What I am seeing all too often is a lot of first time home buyers that are buying homes—-usually foreclosures and short sales—–and they have “0” reserves to handle the many repairs associated with these homes.
While the “Dream” of owning a home may be strong, if it just creates more houses that end up in even more houses deteriorating and/or ending up in a second wave of foreclosures and short sales, have we “really” served the buyer well? Aren’t we just adding to the “Nightmare?”
These buyers used to be called “Renters”—–why are we so intent on turning them into “Home Owners?”
I find it difficult to not think that somehow the sale has become more important than the people involved in the sale.
I can easily argue that if a buyer can’t afford the inspection fee—-they sure as hell can’t afford the house.
By Charles Buell, Real Estate Inspections in Seattle
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