TOPIC: Distressed Property Inspections

I agree with Bruce, always check SOP and don't fall for the cheap price your inspection is worth full price

All good information, thanks! VA is not a licensed state, but I'll abide by sop anyway!   

"SLA" - Service Level Agreement.  Make sure you document what you're going to do, look at and be responsible for.  I also include a list of major items I'm specifically not addressing in the SLA as well.  Here in California, if you walk the property, that partial report will no doubt make its way to some unassuming buyer whom you've never met and believes they have all the negative information regarding property condition.  That couldn't be further from the truth.  You'll open yourself up for legal action, even if you win, its a pain in the rear end. 

Any agent who is trying to get the bank to accept a lower figure wants a very thorough inspection, not some limited water'd down version.  What would be the banks incentive to hear about 4-5 negative issues and lower their price when there are 40-50 more issues?

Don't cut your fees Ed, I've done 1000's of distressed property inspections, they take longer to inspect, multiple trips because the utilities are off, and longer to process the reports and you're normally dealing with some very interesting folks. 

Good Luck!

BTW, regarding fees.  I saw on the NACHI board where an inspector is very proud of the fact that he charges $100 for FHA Compliance Final Inspections.  I get $375 and charge $100 for a second trip to the property if necessary.  I perform hundreds of them each year.  No lender cares what fee your charging.  They charge the clients $150 - $175 just for UPS fees for shipping the documents during escrow.  Appraisers charge $100 - $150 for the drive by's and don't get out of the car.  Agents are getting $100 - $150 for performing BPO's which take about 10 minutes.  What is it about the home inspection business that causes all these inspectors to give our services away?  I hear endless complaints about how inspectors can't make a living, NO WONDER!

Many good point's Will, thanks for the input! 

I agree with a lot above, but especially Bruce.  I do a lot of Walk and Talks with investors, and they are as Bruce says, just a verbal with a guy whom I know and who knows me.  We have a trusted relationship.  There is no report.

If there is a report, be very careful of the abbreviated stuff.  I would love to know who these Realtors are who see these "abbreviated" reports as if they are common practice.  AND these inspectors! 

And listen to Will and the SLA agreements.  You don't know to whom your report will eventually go.  You have to make it clear somewhere the level of service you are providing and that you have no responsibility beyond the initial client's requests.  Some bank may even try to sell your report as the definitive "major concerns" report to some other future buyer.

When I do this stuff, Ed, I do my normal inspection for my normal fee.  I never let Realtors try to talk me into a watered-down version.  Forget SOP - do your own SOP!!  If I know you well enough, your SOP is better than anything some bureaucrat can come up with.

Yes, I hear you, Jay. I'm hearing all of you, and I appreciate all the input! I have decided to forget about all this partial inspection business and I will continue to perform full inspections as I always have. This guy just threw me for a loop, and with all the strange things going on in this market right now, I never know what to believe REALLY IS GOING ON OUT THERE! That's why I come to you guy's! I'm glad I did! Well done, Guy's! A big THANK YOU, to you all!