Right from the "new" guideline
The Mortgagee (lender) must obtain a written agreement between the Consultant and the Borrower that fully explains the services to be performed and the fees to be charged for each service. The written agreement must disclose to the Borrower that any inspection performed by the Consultant is not a “Home Inspection,” as detailed in the disclosure form HUD-92564-CN, For Your Protection Get a Home Inspection.
Wow, that is amazing. HUD requires we are licensed as home inspectors and then states what we do isn't a home inspection. In fact every time we conduct an inspection and don't disclose this is NOT a home inspection we would violate the very license HUD demanded we get. Home Inspectors in 49 states are not allow to provide repair costs and that is all we do.
I love it. You can't say HUD doesn't have a sense of humor. Isn't it ironic that we have to be home inspectors to do what we do and what we do isn't a home inspection. This has to make you grin a little. You have to then ask "why do we have to be licensed home inspectors if what we are doing isn't a home inspection?"
Our government bureaucracy at it's best.
Just a note: I have people ask me all the time how or why I found things their "home inspector" missed or the termite company missed. I have to tell you that no one can catch everything. We all do our best to do a good job and that is why it is good to have a home inspection, a termite report and a consultation on the same property. We have very little time overall to find what is wrong and fix it that the more eyes you have on your project the better it is.
Comments(3)