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4 Common Home Inspection Myths

Dennis breaks down 4 common myths when it comes to Home Inspections here in the San Francisco and Silicon Valley markets.

  1. Not all Home Inspectors are equal - Just because a person holds a license, it does not mean they are exceptional at what they do. We hire our inspectors based on experience and track record. They understand the type of home, the neighborhood and communities they work in and can identify issues quickly with a degree of certainty. 
     
  2. A Home Inspection is not a Home Valuation - Home Inspectors only give you a health check-up on the home. Things that need or should need repairing, or items which need to be brought up to code. For sellers, we can get a pre-emptive inspection and address all problem areas before an actual home inspection, and for buyers, a home inspection provides an additional layer of transparency to the property they are considering purchasing. 
     
  3. Buyers do not usually pay for the Home Inspection - In San Francisco and Silicon Valley, we try to be as transparent and open about the property as possible. This leaves zero doubts to what the buyers will be buying and encourages aggressive non-contingent offers. As a result, when working with our buyers, we are placed in the opposite situation where we must anticipate other bullish offers and write one that's clean and attractive enough to the home sellers. However, in our Los Angeles office, it is still rare to find home inspections completed by sellers. It is often the buyers' responsibility to order one during the escrow process. We are seeing a slight shift in some Los Angeles markets, but for the greater whole, the sellers do not regularly purchase a home inspection as part of their disclosure process. 
     
  4. Home Inspections are not a license to re-negotiate on price - Finally, if a home inspection report displays 'minor' items such as outdated electrical, squeaky floors, or even small termite issues we typically recommend accepting the damage and writing an offer as if the house was perfect. The only conditions that would justify a reduction in offer price are major items such as Section 1 damage, roof replacement or clear and necessary foundation damage. Otherwise, the job of a Home Inspection report is to inform and educate a home buyer and an incentive to write cleaner offers.

Hopefully, you found this informative. If you have questions or require a great home inspector leave a comment or contact us today!

Winter Home Buyers Workshop - December 6, 2017

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We had another seller's market this summer and see the market adjusting. Most of our buyers this year were all financed through traditional lending with 21-30 day closes, and even winning against all cash, non-contingent offers. Discover and learn what it takes to not just purchase a property in Silicon Valley at this workshop but work directly with our team of experts to properly prepare mentally and financially for your first home purchase!

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METIS Buyers Team
Sarah Lockrem • Eric Baird • Sylvie Roy • Wallace Chane
Fred Mayer • Annie Cheng • Dennis Loewen

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Sally Audet
New American Funding

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Sunny Wang
Essence Wealth & Insurance

Space is limited. RSVP Today!

REGISTER:

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SCAM ALERT: Property Grant Deed & Assessment Scams

This was sent to one of our buyers shortly after they moved in.

This was sent to one of our buyers shortly after they moved in.

When you purchase and move into a home you will experience an influx in mail, invitations and solicitations. There will be many important documents that will arrive in your mailbox, along with welcome solicitations such as the local grocery store, and unfortunately the shadier operators in our society are also out to make a few bucks off of your good fortune.

These scams have been common over the past few years. The general traits all highlight the importance of owning your property's grant deed and some form of assessment. In the past years they have all requested a range between $79 to $89 for this 'service.'

Fact is, your grant deed is mailed to you free after the close of escrow and if or for some reason you needed a copy - the county clark's office can produce this for you for a small processing fee. The property assessment and valuation was done by the appraiser your lender hired and again by the county accessor after you closed escrow. Should you wish to have a current valuation, our team is always happy to update you on your home's expected value based on current market conditions.

In this particular case, the service fee was $86 for the 'service,' while it may not be a whole lot considering the living index of Silicon Valley - it's $86 our clients did not have to spend. Make sure not to get suckered into this common scam, and make sure to tell a friend or family about it so they don't either.

For more information about METIS: http://www.metisre.com/