Home Inspection for “Informational Purposes?” Yeah right!

Sheep Man o’ man do I have a pet peeve when I see a contract with “Home Inspection for Informational Purposes Only.” A wolf in sheep’s clothing?
What does “Info Only” mean? So if you find information about a $2,000 rotting deck… at least you have the information? Kinda “nice to know?”

A wise agent once said to me (I guess I could just cut out that part and others would think that I AM the “wise agent” but that doesn’t seem right), that if you really only want it for “information,” then great… do it AFTER closing.

There are too many loopholes in these contracts and I’ve been burned too many times with that clause. Why not just put in the contract your true intentions. Is if buyer worried about a home falling off the cliff, then put in the contract that you will waive the first $1,000 or $%,000 of issues.

Watch the video for more on this topic.

Agents, catch my weekly videos over on Inman News.

By Frank LL0SA- Broker FranklyRealty.com

(Ps. I’m still not too busy for you, so email me. I just cut down on the blogging to work on a house my wife bought. Also she is pregnant.)

Sheep photo by skitzitilby, cliff photo by SimplyAlex. Please report typos.

  • 8
  • April
  • 2010

8 Responses to “Home Inspection for “Informational Purposes?” Yeah right!”

  1. [...] Home Inspection for “Informational Purposes?” Yeah right! – Like anything else if you have certain expectations make sure they are in the original [...]

  2. Venturion says:

    I’m not sure the world can handle two FBLs, but congrats to your wife. Law school, new baby, new house, and the brokerage… actually let me offer her my sympathies ;)

    How are you feeling about the real estate market these days?

  3. Kathy Schowe says:

    Man… this is really a cool site… I am an agent in the southern California desert near Palm Springs, specializing in golf course properties. Found you thru Bart Wilson’s ActiveRain blog. He gave you quite an endorsement! Good job with your blog/site– amazing! Kathy

  4. ColaJae says:

    I’m under the impression that “for informational purposes” means that they can “get out” of the contract if they don’t like what they find and/or that the seller can then consider any repairs. Is that incorrect?

  5. I like your blog very much…Thank you for posting valuable information on “House Inspection”. Also I liked your idea about clarifying your current situation: (Ps. I’m still not too busy for you, so email me. I just cut down on the blogging to work on a house my wife bought. Also she is pregnant.)…
    Keep posting nice posts…

    Thanks & Kind Regards,
    Preston Guyton

  6. Steve says:

    I just see it as a take it or leave it type thing. Of course, you are going to have the inspection before you sign the contract and if you like the results you go for it, if not walk away. Usually it means there are quite a few things that need to be done and the owners don’t want to do it. It protects the owners from having people drop out of the contract three weeks later, it speeds the process for the owner.
    To do this you need to be selling the house at a good price of course. Is it not the same as “As-Is”?

    Give us a a good example.

  7. Chris says:

    Hey Frank, long time blog reader. My wife and I just got a ratified contract on a house in Arlington. Are there any local home inspectors that you think do a good job at a reasonable price?

    When it comes time for us to move, we’ll definitely be in touch for you to list! Unfortunately, on the buying end, I didn’t run across your blog until I signed one of those exclusive agreement doohickeys. Dooh!@

  8. FranklyRealty.com says:

    Dooh! is right

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