Quincy Home Inspection Scams

A financial analyst once said that when the tide withdraws those without shorts are left exposed. So far this quarter no major Quincy home inspection scams have been exposed in the Quincy and Brookline Real Estate markets.

However, like any industry, home inspections have the potential to become a gateway for illegal conflicts of interests.

The problem is not with inspectors who carry contracting licenses and give honest inspection opinions. The conflict of interest develops when inspectors who carry contracting licenses ‘bid up’ jobs by exaggerating repair costs.

This type of inspector gives inflated repair quotes in order to get hired on as the contractor who fixes the problems.

The Quincy home buyer is put into the position of repairing the often expensive damage or potentially killing the deal. The seller can always order another inspection opinion, but that costs more money too. The situation gets even more disastrous when repair contingencies are placed within the purchase agreement.

One thing the seller can do to protect themselves from this scam is to require multiple contracting estimates for repairs. If the costs of repairs are still inflated then the work must be done by the seller or the repair contingencies must be removed from the purchase agreement.

This isn’t such a huge problem right now because Boston area housing inventory is down. In a regular market, where buyers have more selection to choose from these scams seem to flourish.

The lesson for all of us in the Quincy and Brookline real estate community is to cherish the relationship of an honest home inspector. This type of relationship is worth it’s weight in gold.

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