Structure Talk

Buying homes without inspections (with Jim Starr)


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Today’s episode starts off by digging into the local real estate market with our guest, a Realtor® extraordinaire at RE/MAX Advantage Plus, Jim Starr. He shares what the real estate market’s like in the Twin cities in the last week of February. He shares a couple of listings they had, some overlapping showings they did, and how chaotic they were. Also, he shares an experience he had where the buyer didn’t do an inspection and ended up with some issues and concluded that having a home inspection is indeed important. He  then answers the following questions:

  • Do you recommend a home inspection to potential buyers?
  • Is there anything in the code of ethics for Realtors® to talk about home inspections? Can you recommend against them? What's the actual language when it comes to this thing?
  • Why do you think some people are afraid to forgo inspections?
  • Why do you think deals which are in a seller’s market still blow up? What are the steps to prevent it from happening?
  • If somebody gets a pre-listing inspection and something turns up, say there's an issue, but we're in this crazy market, what does the seller do at that point?
  • Should sellers disclose issues that turn up during a pre-listing inspection?
  • If there is a material defect found with the property, should the owner of that property have to fix it?
  • How much will it cost if the buyer will forgo or fly-buy an inspection?

Reuben then brings up the new service that the company is rolling out which is called a Walk-Through Consultation. He shares how the company came up with the idea, how it works, and how they are trying to open up schedules as much as possible to help people in these situations.

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Structure TalkBy Reuben Saltzman

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