My client figured that the lender’s inspection of the home for sale which he was purchasing near College Station, Texas was adequate. He was going through the Brazos Valley Affordable Housing Corporation (BVAHC) a couple of years ago. The consultant was quite helpful to my buyer, and showed him the best option to finance his home purchase.
(It was fun to interact with that consultant, for he has an active sense of humor–once, when an email I sent him was inexplicably delayed for six hours, he asked me if I was using the Pony Express to deliver my emails. We had a good laugh over that one)!
My buyer purchased an older home near Bryan, Texas. Though advised otherwise, he elected to sign a waiver of inspection for my file. The home was built on pier and beam. It had wood siding, painted white. Plainly stated, it was an older home for sale, with some issues.
The lender’s inspector wrote a few items needing repair on the inspection report. (I do not think this “inspector” was licensed by the Texas Real Estate Commission–he was an employee of BVAHC). Though re-piping the hot water heater was addressed in the report, what was NOT noted, was that age had deteriorated the unit.
Some time after closing, I got an email from the buyer to the effect that he wished he hired a licensed inspector (as was recommended to him--he referenced that fact), because he just purchased a new water heater.
A licensed inspector most likely would have noticed the poor condition of the water heater, so we could have negotiated with the seller. My buyer was out hundreds of dollars...but I could not say, “I TOLD YOU SO...!”
Just curious...what would you have told him?
Nathan Cook Realtor®
Serving home buyer and home sellers in Bryan / College Station, Texas