General Definition of Due Diligence : Measure of prudence, responsibility, and diligence that is from, and ordinarily exercised by, a reasonable and prudent person under the circumstances.
Individuals investing in Real Estate have to take some of the responsibility of ensuring that the property they are buying meets their expectations. You can only rely on third party information and guidance if they are truly experienced and a seasoned professional in their area of expertise.
I fully sympathize with buyers who were lead down the “garden path” by inexperienced real estate professionals, which also includes home inspectors. This is where common sense should prevail when so many people are jumping into the real estate profession and the home inspection industry anxious to start making the quick dollars. We have all seen the advertisements for the home inspection industry. You can attend part time at our local college, pick up a couple of basic courses, (Home inspections is the busiest course they have) or even go to a local strip mall where they are teaching the course and after a brief period of instruction, you are a Professional Home Inspector . On-line courses start at under $500.00 for at home study and a certificate upon completion.
The Home Buyer must do his or her due diligence on choosing their professional representative, where a real estate agent or home inspector. This is usually one of most peoples largest investments and should not be entered into blindly.
In the past month alone I have turned down three home inspections. The reason why is that they were all requests for re-inspections of houses inspected by local “Professional Home Inspectors”. I have the best price in our area for home inspections but I can only maintain that through the volume of business that my $199.00 price generates. I do not have time to be involved in litigation over some individuals’ failure to perform a proper home inspection. I do not like to be involved in instances that reflect badly on our profession and in all cases have recommended that the buyer contact the individual to allow them to reconcile their differences.
I continue to receive calls every week from concerned individuals, who have bought a home, and when going through their “checklist” inspection report, have come across something that either scares them or worries them so much they have to phone someone to have it explained. Most cases are simply explaining the wording that was used is a “cover your ass” type of “blanket catch phrase”, typical of the in-experienced Home Inspector in an attempt to defend his in-experience from future lawsuits. This is not limited to just my local area, I received a call from an individual from Pennsylvania last month who was concerned about the inspectors comments on his air conditioner. He had no clue that he was calling Canada, just read one of my articles and called the number.
Please ensure that when your buyers are looking for a home inspector that they are aware of the importance of doing “Due Diligence” when hiring someone to inspect their investment. Some guidelines recommended by Canada Mortgage and Housing are to verify how long they have been in business, check references and ask what they professional qualifications are. Some web sites provide certificates for everything imaginable by doing a 20 minute online course, you then get a professional looking logo to plaster on to your website. Look for original content on websites, those syndicated “magazine type articles” should be a “red flag” shouting out, “inexperience.” I personally recommend that you look for third party credentials that are building related. Common sense should guide you here. A “block layer” is not much of a credential when most homes are poured concrete. Nothing against block layers but when the foundation walls are up, their finished. Many “in-experienced inspectors” claim that they don’t quote building codes. Well your home was built according to the Building Code that was current at that time. If you don’t know the appropriate building code how could you possibly ever identify what is wrong with the construction of the home. Your span tables give you the required size of floor joists, how many nails are required is covered, and how much of your beam is required to be on supporting structure. It just goes on and on and if your home inspector has the bare minimum requirements, thats the type of inspection your receiving.
Well, that was my rant for today. I feel badly for those individuals who have called, but unfortunately it is too late to help them. I believe it is the duty of true professionals to help educate and protect those who rely on our expertise to guide them through the process of buying real estate.
As always remember Caveat Emptor Buyer Beware
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