Repair Prices from Home Inspectors

Repair prices are the next step following receipt of the inspection report. Buying a house is a financial transaction and the major findings of a report must be translated into dollars to realize potential value. When looking for a source of repair prices, the home inspector is the nearest one among the professionals so far involved in the home buying process so he becomes the bulls-eye. There is much pressure on him to furnish repair estimates for his findings and many do yield to such demands. As an inspector who is prohibited by law from completing any repairs on the house for one year, he’s no more qualified than the agent to render repair estimates. An estimate by either could be off by thousands of dollars on a single major repair and each discrepancy from the eventual repair cost could represent a loss to the buyer. With a signed bid from a contractor, the potential loss becomes negligible since the contractor has signed a contract, contingent on the sale of the house, to complete the repair for a previously agreed amount.

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