Chasing Down the Foreclosure Part 2 – Auctions

See part 1 for houses that are in default or pre-foreclosures.

See part 3 for REO

Going to Auction. 

You may have heard a story on someone who bought a $400,000 house on the courthouse steps for $80,000. While not impossible, this is highly, highly unlikely.

This is how it usually goes. The notice is filed saying there will be an auction date for 123 Main Street on May 1st. You go to the courthouse steps, and the official who is auctioning the property announces that the auction has been postponed to a yet to be determined date.

But you are determined to buy 123 Main Street, so you make the next, and the next, and the next auction date. So finally it comes up for auction and you are sure to steal it because you are the only one there. www.SouthernOregonHomeValues.com says the property is worth $300,000. The opening bid on the property is $375,000. Where’s the deal?  Essentially the bank that is in first position on the property has a bid in for at least what they are owed. And by default, it usually wins, because if the house had a loan on it for way less, the previous owners would have sold it instead of letting it foreclose, and pocketed the cash.

Another pitfall is they will actually auction off the 2nd note on a property. So lets say someone has a property with a $250,000 first and an $80,000 second on it. They may auction what you think is the property, but it is actually just the $80,000 second. So you think you bought the house for $80,000 just to find out that in order to get the house, you have to clear the first too. So you either sink another $250,000 into the house, or hope that somehow you can get the borrower to pay the note that you now own. 

So let’s say now that 123 Main is your dream house, and they are auctioning it for $275,000 and you think it is worth $300,000. So you go ahead an make the bid. This is a whole new set of pitfalls. First, you need cash. 2nd, you get the house as-is with no inspections. So if the foundation is no good, too bad. 3rd, you don’t get a title report and title insurance. So there might be other judgements or the title may not be clean and someone could possibly lay claim to ownership.

To me, buying a house on the courthouse steps is Graduate level investor stuff. The risks are huge, and the investor really needs to be able to afford to be wrong every once in awhile. I cannot recommend to anyone who doesn’t do that kind of investing full time to get involved.

Like on Part 1, I don’t specialize in this kind of property sale. It involves a lot of leg work on a lot of properties that never make it to the courthouse steps, or aren’t a good deal when they do. I would not have time to take care of my clients in the market for houses that were actually for sale, or my clients who are wanting to sell their houses. If I stood to gain $100,000 a year from it, it could be worth the full time job. But not for a small percentage (no compensation is actually offered on the courthouse steps) that my client would pay me for assistance, and the risk involved, it is not worthwhile.

 

 

Chasing Down the Foreclosure Part 1- PreForeclosure

See part 2 for Auctions

See part 3 for REO

 

I have written versions of this blog post as emails to a number of people over the years, but thought it might be time to put the general theory in a post that all of those curious could read.

I am not sure where the notion that one can pick up a house that is in foreclosure for a fraction of the value of the property came from. I think it is probably a combination of some urban myth story and television informercials on how to get rich in real estate. The secret to the how to get rich is real estate is to sell the book on how to get rich in real estate.

Is it possible to buy a house that is in pre-foreclosure?Home

Pre-foreclosure basically is a fancy way to say that the owner of the house has not made some mortgage payments, and has been given notice that they are in default.

So the person who “owns” this house is still the homeowner. And that is who you would have to purchase it from. And it is possible that they owe more money on the mortgage than the property is worth. So not only do they have to agree to sell it to you, they have to convince the bank to take less for the payoff than they are owed (short sale).

So is it possible? Technically yes. But first you have to find the owner. So if the house is vacant, then there is the work of chasing them down. Then you have to have that conversation with them that says “I know you haven’t been paying your bills, can I buy your house? And oh, by the way Mr. Seller. The bank is going to ask for a ton of paperwork on you, your finances and why you aren’t paying the bill. Plus, there is a chance you will have to pay taxes on the amount of debt that was forgiven.”

If the seller is still living in the house, they might be there without paying their mortgage. And to move, they would suddenly have to start paying rent somewhere else. So there is little incentive to leave until the bank forces them to.

So it pretty much takes a perfect lining up of the stars to find a house one wants that is in pre-foreclosure, find a seller that is willing to sell and go through the work that entails for them, and convince the bank that they are better off with that deal than going through with the foreclosure.

And after all of that, the amount you save might be 15-20% at the most.

Because in a short sale, the banks have an independent Realtor or Appraiser go look at the property and give them an opinion of value. They look at that opinion of value, and see if they would be better off accepting the offer before them, or if they would net more if they foreclosed and sold it as an REO. In my experience, that figure ends up being at the very most 80% of the opinion of value. But usually closer to 10-15%.  So a house that if put on the open market would be valued at $300,000, you might be able to pick it up for $250,000. It’s still a good deal…but not a steal. But you wouldn’t be able to buy it for $150,000.
And that doesn’t take into account if there are other liens on the property, back taxes or judgements.

I do not specialize in chasing down pre-foreclosures and trying to make the stars all align. The amount of time and effort compared to the probability of success would make me go broke. I wouldn’t have time to take care of my clients who were looking at houses that were actually for sale, or selling homes for my clients who wanted to sell.

It can be done, but generally by someone who is an investor or flipper. This is their job, for themselves. And that potential $50,000 gain goes a fair way into being an annual income. Success twice a year is a good investment. For $100,000 it might be worth it. But for $7,000 it isn’t.

 

 

 

 

TEN salutes ReSolve (Formerly Mediation Works)

I don’t think it matters if you are a Republican, Democrat, Socialist, or Tea Partier (calling them Partiers kinda makes me want to be one), I think one thing everyone can agree on is that the criminal justice system in this country is completely broke. With more people incarcerated per capita then almost every country in the world, there is definitely a break down and issue in this country that needs someone to do something about it. The question is what…and is anyone doing anything about it now.

The good news around here is there is a local non-profit who is tackling this issue, and making a real difference in people’s lives. Just one part of what Resolve does is a Restorative Justice program, and when young people are involved a program called Victim Assistance, Youth Accountability (VAYA). Their key goal is not to punish an individual who has committed a crime by incarceration, but instead to heal the relationships that have been harmed as a result of the crime.

As they refer to it, there is a ripple effect for every action we take…either good or bad…and when an individual commits a crime, the victim is affected in ways that the “criminal” doesn’t recognize. And when faced with the results of the ripple effect, both the criminal and the victim can come together to make things right.resolvelogo

One local story involves a young man named Alex. (While most everything as Resolve is confidential, Alex came forward publicly with his story)  When in his teenage years, Alex had a bad relationship with alcohol, and regularly drank to the point of being disoriented and out of control. On one such evening, Alex was drinking and wandering the neighborhood with no real idea of where he was. Not being able to find his way home, he punched his arm through a neighbors window and proceeded to pass out on their couch.

Imagine the surprise and feeling the neighbor had when finding a strange man in her house. Police were called, and Alex was charged with Burglary and Criminal Mischief.

This case could have gone through the justice system, and had large impacts on Alex’s life and prospects for his future. Instead, he went through a month long program with VAYA where he learned of the ripple effect caused by his actions. The fear he had created with the victim.

Alex and the neighbor agreed to meet in person and have the opportunity to talk about the incident so that they could repair the harm and move forward. It was a successful and powerful meeting. The neighbor saw that Alex was not the scary criminal that was who she saw when he was found in her house, but a kid who was going through a rough patch in his life. And that she saw he understood the negative effects that he caused in her life.

Four years later, Alex called Resolve out of the blue to thank them for the positive impact that VAYA had on his life. Alex said “There hasn’t been a day that has gone by that I didn’t think of VAYA, the impact it left upon me was tremendous. I constantly wonder how different my life would look behind bars in a cell in Portland.  Alex is currently serving in the Marine Corp. He says “I want my career after the military to have affiliations with restorative justice programs similar to Mediation Works (now Resolve).”

And this is just one arm of what Resolve does. They teach Mediation to local schools, organizations and community workplaces.  In fact, I went through one of their training sessions just a couple of months ago. One of the volunteer jobs I do is I am an Ombudsman for the local Realtor Association, to help resolve conflict that Realtors or the public have with each other in the event of a bad real estate transaction.

Resolve also provides Mediation and Facilitation services in the valley.

TEN Realty Group is proud to have named Resolve our Charity of the Month for January, 2016

Thought Leader Series

I was waiting for this blog post to come out before I continued writing for this company.  I was approached to be a “thought leader” and write articles that would be useful to other companies.

Now that I have seen the article…I think I like it and will do more.  Part of the agreement is that I don’t repost the whole article on my own blog…but as a link to the page I wrote for.

Man Installing Smoke Or Carbon Monoxide DetectorSo follow this link  HERE

The article is about quick fixes a home owner should do prior to getting a home inspection. Because there are small items that the home inspector always calls out, the home owner almost always has to fix for the buyer, and they are easy and inexpensive to take care of.

 

 

The Siskiyou Field Institute

The Siskiyou Field Institute.

Can you imagine taking a class about “Birding at Sea”, and suddenly having your boat surrounded by a group of humpback whales? This is what happened for Karen Phillips, a big fan of the Siskiyou Field Institute, during one of the classes provided by this local non-profit. Karen is currently the Development Director for the Maslow Project in Medford (another great non-profit) Karen says: “I’ve had many wonderful experiences in Siskiyou Field Institute classes over the years: exploring a hillside Darlingtonia fen (I had to look that up too) and learning about the ancient plants that live there, standing atop Big Red Mountain and starting to understand some of the geology of the Siskiyou Crest, discovering the intricacies of a wildflower through a microscope…”

We really are so fortunate here in the Rogue Valley to have such close proximity to the Cascade and Siskiyou Mountains. The Cascade–Siskiyou National Monument includes the mountains you see all around us in the Rogue Valley but especially east and south. They are noted for their significant botanical diversity. The range of elevations and diversity of habitat means that we have over 300 plants growing here that are literally found nowhere else on the planet! The mountains are weathered into red soils and slippery green rock outcrops called serpentine. This is a place of wild rivers brawling through stunning canyons and amazing trees. (I know, I sound like Chef Ramsey.)

(Cardamine nuttallii var. gemmata. Photo by Norman Jensen, Photo·grafica botanii.)

SFI flowerI know much of this because of a dear friend who has dedicated most of her adult life to the biology of this region. Taking a hike with my friend Kristi Mergenthaler can be a fantastic, if somewhat overwhelming, education for someone like me who is a destination hiker. I like to hike to get  somewhere, see something cool, then hike back. But when one hikes with Kristi, or one of the many other instructors that volunteer their time for SFI, you find yourself looking at our environment with completely new eyes. Did you know that lichens are actually a form of fungus?

So for those people who are into the experience of the hike itself instead of the destination, taking classes from the Siskiyou Field Institute might be just up your alley. (Although considering there are barely any roads, I guess there aren’t any alleys)

The Siskiyou Field Institute provides educational classes for both adults and children. For adults you can take bird watching classes in Gold Beach, learn about the Flora of the Lava beds in Tulelake, identify the mushrooms of SW Oregon or gain a new appreciation of the colorful world of lichens. A number of youth programs are also offered. Many of them include overnight stays in a yurt at the Siskiyou Field Institute headquarters located near Selma. Whether learning about songbirds, mammals, the watershed, or just general botany, these youth education classes are a fantastic resource for educating our valley’s youth in the natural sciences in a fun way. SFI wants all the local kids (urban, rural, rich and poor) to understand that they live in one of the most biologically special places in the world. Over the past year, they have taught over 2,000 kids from over 18 different schools at their site in Selma. They also teach in schools throughout the region, and on wilderness backpacking trips.

“Whether you’re new to the area or just want to gain a deeper understanding and appreciation for this beautiful region we live in, I’d highly recommend taking a class with Siskiyou Field Institute!” Karen Phillips

There are a number of ways to get involved and help this fantastic non-profit. Memberships in the SFI are as low as $50 per individual and $80 for a family. In addition to helping keep this program up and running, memberships get you 10% off course tuition and SFI merchandise.

Siskiyou Field Institute can be reached at 541-597-8530 or emailed at institute@thesfi.org. For more information on their classes, the catalogue can be viewed and downloaded from their website. www.thesfi.org.

TEN Realty Group is proud to name the Siskiyou Field Institute as their Charity of the Month for December 2015.

Winter, When the Serious Shoppers Come Out

While it is true that many home shoppers stop looking during the winter, many shoppers still are active. 

In the Rogue Valley, we usually do not have to deal with snow or slick roads to hamper home shopping.  The biggest issue I usually face in the winter is having enough daylight to show properties to those people who work full time jobs. Starting right about now, by the time it is 6 O’clock, it is hard to see outside. And that will only continue to be a smaller window of time as we approach Winter Solstice. 

Reasons why shopping in the winter is tricky

  • Roads are slick
  • It gets dark early
  • Don’t want to change schools for children mid-yearRed bird house hanging outdoors in winter on tree covered with snow


  • Fewer homes on the market than in the spring
  • Properties are looking their “worst”

Advantages to shopping in the winter

  • Houses look their worst…they only get better from there
  • Sellers may be more motivated
  • Less competition from other buyers
  • Might be more likely to take contingency offer
  • Home inspections more likely to find bad gutters or water in the crawlspace

Expert Interview Series

ica-logo1 (1)

I was recently interviewed by ICA School as part of their Expert Interview program. 

It is crucial in the real estate industry to have good partners with lenders, appraiser, title companies and home inspectors. It was an honor to be interviewed by the ICA, a premiere training center for home inspectors.

Click here to read the interview and let me know what you think!

Inspector Certification Associates Interview

I think due to my recent blog post on home inspectors, the ICA contact me to do a professional interview. Since I spent the time to do it, I thought I would share the unedited version here.

Maybe I should edit it a bit first, but this is what a rough draft looks like coming off of my keyboard. Hopefully there is nothing controversial, embarrassing, or completely unintelligible here.  I have a tendency to use commas when I would be better off rewording the whole sentence.

 

 

Can you tell us a bit about your journey to where you currently are professionally with TEN Realty Group?

I started in the business officially on January 1, 2004. I spent most of my first 10 years working in a locally owned Coldwell Banker office. It was a small office that operated in many ways like a boutique office, but with a franchise name and franchise fees. Starting in 2014 I knew it was time to start something new and I spent a number of months researching options, and leaving very few stones unturned. These choices ranged from joining Redfin to becoming a developer in Boise. The option that worked the best for me was to join eXp Realty, and form TEN Realty Group. eXp Realty gives me the flexibility to own my own business, but takes care of the bulk of the back end needs that a brokerage has.

Working with such an innovative company freed me up to start my own brand. The name TEN came from the philosophy of tithing. At TEN, we donate a full 10% of our revenue back to local charities, because we believe that real estate is more than just houses, it’s about where we live.

 

The website refers to you as the Agent in a Kilt? How did that get started?

The kilt actually came before I got into real estate. I started wearing a Utilikilt brand kilt full time back in 2001. When I decided to embark on my second career as a Realtor, I had the choice to either dress as “normal” people do, or use it to my advantage. Obviously I chose the later, because I did decide to brand myself as the Agent In A Kilt. And since then have become the most recognized Realtor in the Universe (google it).

 

How is the world of real estate changing?

That is a very big question. The most obvious of changes is the way business is different due to emerging technologies. The internet obviously changed the way every business operated, and has challenged every industry from the Travel Business, virtually making travel agents a close to extinct class, to Taxi Cabs and Hotels due to Uber and AirBnB type websites.

 

Is this a bad or a good thing becomes the question. And I believe overall one has to recognize technology as a good thing. There are many innovators out there right now dissecting the real estate world, and trying to figure out how to make it better. But with all of the websites and development money that has gone into real estate technology, it has been found that the role of the Realtor is vital to the vast majority of consumers. It is too big of a choice and too important of a life decision to not have a professional who knows the ropes to help you out. And the good Realtors have a team or trusted partners, such as proven lenders and home inspectors,  that can be the difference between a good experience and a bad one.  

 

What is the importance of home inspectors to real estate agents?

The Realtor has their role in a transaction. But they are not experts in all fields. And the liability that would fall on them if they tried to be the inspector, accountant, attorney, etc… would be huge. So having a selection of trusted home inspectors is a must in any good Realtor’s tool kit.  A 3rd party that the buyer knows is responsible only for determining the soundness of the home and it’s components is vital.

It is the Realtor’s responsibility in my opinion to recommend the best inspectors possible. Ones that find the issues, report on them accurately, and can explain to the buyer the significance of them. One of my trusted inspectors tells a story about me to my clients. Basically he recounts a time when an inspection came out that showed significant issues with the house, and it was going to “kill” the deal. And I mentioned to my inspector that if he didn’t occasionally “kill” a deal for me, that I would probably quit hiring him.  I want the inspector to give the potential buyer the real scoop about the house.

That being said, the inspector does not need to be alarmist. The best inspectors recognize that the majority of houses they inspect are pre-owned, and that anyone who has ever owned a house before knows…there is work and maintenance that needs to be done regularly. And a good inspector can point out what is regular and needed maintenance and “normal wear and tear”, and what is structural, destructive or dangerous.

 

What do you think that those home inspectors should know about home sellers and buyers?

Sellers have gotten used to the way things are in their house, and that some items an inspector might call out just don’t seem important to the home seller. A good example is the GFCI plugs in the kitchen and bathroom. The seller’s have not been electrocuted, so it is an unimportant item to them at times. And that is just one example.

Buyers are another matter. Inspectors need to be aware that the buyer is in a super acutely aware state during the home buying process. And thus items are super important to them at that time, that later will be no big deal. When items are new to a person, the brain takes note of details, like road noise or a particular smell. But as the brain becomes accustomed to these kind of items it forgets they exist. That is why the seller can think something is no big deal, and a buyer can feel it is critical.

The inspector should be able to recognize fears that are irrational at the time from critical needs. Ask questions and find out what the buyer really is concerned about and make sure to address those items.

 

What do you think are the things most people don’t know about inspecting a home for sale?

The the home inspector is just a step one inspector. A general, and not specialized inspector. People expect the inspector to be able to find items that are not readily visible and be slightly psychic. They think they will do things like see what’s behind the wood panelling, or determine if the vinyl siding is covering up wood rot.  I believe all home inspectors should highly recommend or even provide some form of home warranty coverage to their clients. Because items can be missed, or water heaters will fail the day after closing.

 

What is the most challenging part of a career in real estate?

Oh man, that varies per person. Some agents are great at paperwork, and have limited people skills. Some are great at finding new clients, but have no idea how to solve problems that arise in the middle of a deal.

To me though, the most challenging part is prospecting for new clients. I have a good basis of referral business from past clients, but nurturing that and also finding new clients is a struggle.

I am a top negotiator, know how to problem solve, and really take good care of my clients when we are actively working together. And that is what I enjoy doing. And unless I force myself to continue to look for new business, I will focus all of my energies on my current clients.

 

What is the most rewarding part of the career?

There seems no way to avoid cliches with that question. The obvious answer is that helping people with this important decision and process is very rewarding. For me it is deeper than that. I genuinely put myself in my client’s shoes, (figuratively, not literally). And I spend a large amount of time learning and teaching so I have the best set of tools available at my disposal to be able to assist my clients in achieving the goals they have. And when I know I have solved a problem that would have tanked most transactions, or had a person say to me that they thought buying a house was really hard because they had heard horror stories, and through my help it all was smooth and painless. That is rewarding.

 

Please share with us anything that you think has contributed to your success in real estate. What are some of the things that you have learned along the way?

The first contribution to my success in real estate was actually my first career. I worked in the Motion Pictures production business, and through that learned how to relate to all kinds of personalities, and the importance of getting things done…and getting them done now.

Humor is my number one tool. It is the best way to display intelligence without being seen a putz. Look at the success that Jon Stewart had with the Daily Show. He could say things because of the humor that other “newscasters” could never have gotten away with.

One of the things I have learned is that it really does take putting together the best team possible. And with a good team of inspectors, lenders, title officers, cooperating Realtors, etc….the process of home buying and selling can seem very easy to the consumer.

Which in itself is a double edged sword. Because then they tend to wonder what they needed you for. But real estate is like many other fields. As long as you do your job right, nobody notices. It’s when things go wrong that you stand out.

That I guess is one of the brilliant parts of wearing a kilt, or tithing 10% of your revenue to charity. It is a way to stand out, without screwing things up.  

 

Thanks so much. Finally, would you also be able to include a photo of you that we can use with the article? Also, if you’d like us to link to our social media accounts at the end of the article, please include links to all the social media accounts you’d like us to link.

Http://www.agentinakilt.com

https://www.facebook.com/agentinakilt

https://www.linkedin.com/in/agentinakilt

http://www.TENRealtyGroup.com

 

 

 

New Regulations Will Help Loan Shoppers

 

The new regulations that will take effect on October 3rd are set up to help loan shoppers compare loans.

What does this mean for the average borrower? Not much for anyone who is first time into the mortgage and real estate market..or anyone who hasn’t done anything for a long time. Because they won’t have the old way of doing thing to compare it to.

The meat of the change starts at the beginning of the loan process. The lender will be required to give you a Loan Estimate within 3 days. The best time to get these estimates is at the very beginning of the process…even before you find the home. Then pick your lender. After you get a Loan Estimate on a specific property, you will have 10 days to commit to the lender. However if you shop multiple lenders after there is an accepted offer, the process of closing the home on time could really be in jeopardy.  That is why it will be critical to do you comparisons early.

KBYOfeature-300x135The second big change is the important requirements of the rule means that you’ll receive your new, easier-to-use closing document, the Closing Disclosure, three business days before closing. This will give you more time to understand your mortgage terms and costs, so that you know before you owe.

Giving you three business days to review your Closing Disclosure before you sign on the dotted line is designed to protect you from surprises at the closing table. It also gives you time to consult with your Realtor (me), lender, accountant and/or lawyer and ask all the questions you might have about the terms of your mortgage. However, the numbers are required by law to match those of the Loan Estimate that you will have received much earlier in the process. So basically it is 3 days to compare those numbers to the estimate already received (which you should already have gone over with your Realtor/Lender/Accountant/Lawyer) and to schedule a time to meet with the escrow officer.

To Read More, Go to the CFPB’s Know Before You Owe website.

Choose A Home Inspector

I believe the choice of home inspector is one of the most important decisions in the home buying process. The most important choice is choosing the right Realtor. But hopefully after reading up on me and TEN Realty, the choice of the best Realtor is Southern Oregon is obvious and you have already decided to choose me.

The second most important decision is the choice of lender. I will leave that to another blog. But believe me, the 7 of 10 of the most difficult deals I have done have been due to an poor choice in lender. Now I can’t 100% tell someone which service providers to choose, but things always go smoother if my client allows me to refer them to the best service providers.

But what we are going to talk about it the Home Inspector.

I have a definite preference in my GO TO inspector.  And it is for a combination of reasons. First and foremost is that he is good at his job. I don’t want an inspector that overlooks things or misses things. It is the best insurance

A magnifying glass hovering over the words Inspection, centering on a house with the word Home inside it

policy you get when buying a house that on the date the inspection was done that the home was in a “known” condition. That is not to say it is in perfect condition, but that the issues are known and their risks and costs associated with them have been assessed.  My GO TO inspector quotes something I said to him years ago still. It was “if you don’t occasionally kill a deal for me, you aren’t doing your job”.  And I believe this, because some houses are just more work and need more money to fix that the buyer may have or be willing to live with.

But the next most important thing an inspector can have is being able to see the big issues from the minor issues. And to be able to communicate this to their clients. There are certainly some large issues that can go wrong on houses, but it is also the inspector’s job to find smaller items that are issues. Some inspectors make every little think look like it is a big deal  A house that was built 10 or 20 or 90 years ago will not have things as perfect as it should have as a brand new house (although brand new homes have issues all the time too). And if an inspector makes big deals over little items, it is counter productive.

There is one inspector that is in the area that has a reputation as a deal killer. I call this the WORRIER inspector Not because of major issues, but because he makes minor issues seem like big deals.  And to the inexperienced home buyer, they get scared and worried. I’ll tell you one thing as a home owner. Things break, things go wrong, and you too will defer some maintenance. We don’t all crawl under our houses and inspect that the insulation is still in good order. Or we don’t all consistently keep that beautiful climbing vine off of the side of our houses.  But if the attitude of the inspector is that all of this MUST be fixed, and that the seller REALLY should do it, that can turn a perfectly good house into one that isn’t purchased because of minor issues.

House_1Some inspectors also OVER inspect. When buying, it isn’t necessary to know every scuff of paint or snag in the carpet. Generally you want to know if the foundation is good. The roof is good. The plumbing isn’t leaking. There is no significant dry rot. ETC….  Unless you do want to have the perfect house with zero imperfections. And you are going to take the OVER inspection as a to-do list. Because generally the seller will not agree to a 100 point fix it list. But if you want that guy…I know who it is.

Then some inspectors have no people skills at all. They come in, check the boxes, do the job, fill out a report, print it and move on to the next one. I actually prefer this inspector to the OVER inspector or the WORRIER inspector. Because they do a good job. The reports point out the flaws of the house. This isn’t my GO TO inspector, but it certainly is my OKAY inspector. I’ve got a few of these.

I have also run across a report or two. An inspector or two who just seems incompetent. They may find the issues but their reports are so basic or poorly written it is hard to tell. They don’t take pictures or don’t take enough pictures to demonstrate the issues that they have found. If I am representing a seller in a deal…there are a couple of names of inspectors that I love to hear are doing the inspections. Because they are the INCOMPETENT ones. And if there is something that the seller doesn’t know about, the inspector doesn’t find…then all is good. You will not find the INCOMPETENT ones on the preferred providers section on my website.

 

So in order of my preferred personality inspectors when representing a buyer.

1. GO TO inspector (obviously)

2. OKAY inspector

3. OVER inspector

4. WORRIER inspector

5. INCOMPETENT inspector.

 

My order of preferred personality inspectors when representing a seller:

1. INCOMPETENT inspector

2. OKAY inspector

3. GO TO inspector

4. OVER inspector

5. WORRIER inspector