Investor inspections??

[Mark C. Ferro]

Any Canadian opinion on providing real estate investors with verbal walk through inspections - no contract, no report, done within an hour as per Russel Rays posts in another thread. The idea is that these inspections are done for clients who know the house is a dump and are looking to fix and flip quick and don't really need a full inspection and report. Just curious as to what soon think the liability may be, remember no contract and no report, just a verbal walk through.

Thanks

[dplummer]

I do it quite often. $150.00 . Liability? I don't think it's a big concern. I get paid for my opinion. Doug

[Jeannot G. Cote]

Hi Mark
Check my post of 10/3/06 on walk through inspection, I had a few replies that might answer your question.

Jeannot

[Charles R. N. Crooker]

Originally Posted by jcote

Hi Mark
Check my post of 10/3/06 on walk through inspection, I had a few replies that might answer your question.

Jeannot

http://www.nachi.org/forum/f48/walk-through-inspection-8396/

[Mark C. Ferro]

Thanks for the link.

[Bruce A. King]

Would anyone offer an opinion on a house without spending 30-45 minutes in the crawlspace and entry to the attic? (For the up north guy's, the crawlspace is under the floor here.)

If you did that here, you would miss 5-10k worth of problems on every 5th house or so.

[wforsyth]

Originally Posted by bking

Would anyone offer an opinion on a house without spending 30-45 minutes in the crawlspace and entry to the attic? (For the up north guy's, the crawlspace is under the floor here.)

If you did that here, you would miss 5-10k worth of problems on every 5th house or so.

There's at least one CMI here that claims to do their entire inspection, drive home, write the entire report and be done in less than three hours.

I personally take anywhere from 4-8 hours on a report making sure that I have not missed anything and writing and rewriting. I use some canned comments, but for the most part I write each comment on my own individually each time.

So I don't see how anyone could be done in three hours or less, and still thoroughly inspect the attic and crawl or basement.

[rcooke]

We did one today a real rough home same three hours the only difference we do our report on site and start to finish about three hours .
I guess that the difference between well over a thousand inspections and just a very few inspections.
Just maybe much knowledge and many courses and lots of training before starting did help a little .
Roy Cooke CMI,CHI,RHI,CAHPI-ON, and they are all mine and more comming.

[rwand1]

30-45 minutes in the crawlspace and or attic! Yikes.

[wforsyth]

Originally Posted by rcooke

We did one today a real rough home same three hours the only difference we do our report on site and start to finish about three hours .
I guess that the difference between well over a thousand inspections and just a very few inspections.
Just maybe much knowledge and many courses and lots of training before starting did help a little .
Roy Cooke CMI,CHI,RHI,CAHPI-ON, and they are all mine and more comming.

No, but it might mean more than chicken scratch and fly-by inspections.

I couldn't take that little amount of time on something in good conscience. I know for a fact that you can't do a thorough report with photos and all in that amount of time. Nor would I want to.

[rwand1]

The value of experience is not in seeing much,
but in seeing wisely.

[wforsyth]

Originally Posted by rwand1

The value of experience is not in seeing much,
but in seeing wisely.

[rwand1]

I couldn't take that little amount of time on something in good conscience. I know for a fact that you can't do a thorough report with photos and all in that amount of time. Nor would I want to.

Thats why

The value of experience is not in seeing much,
but in seeing wisely.

[wforsyth]

So you feel comfortable issuing a two page handwritten report that takes less than two hours most likely, and charging someone $450 for it?

[rwand1]

Wendy

I charge a min. of $400 for upto 2,000 sq. feet.

I use the Carson Dunlop report. Therefore my reports are at the minimum 9 pages.

Experience costs money. Nor do I offer discounts, except for repeat clients and that is only $25 off.