I had an interesting conversation with my buyer at an inspection a while back.
The house had very good curb appeal—-all decked out in its fall colors, and in a very desirable neighborhood—-and priced just right.
Because it was priced 100k under the typical homes in the area, it got a lot of attention and there was a lot of wondering if it was priced low for a reason—-and it certainly was. This post is not about all those reasons, but is instead about my buyer’s unusual perspective on the inspection. His perspective was somewhat unique as to how it related to the cost of the inspection and whether he would ultimately decide to buy the property or not.
While my gut feeling was that the property was probably not what he was looking for, what he had to say of the $525.00 inspection fee was this, “It is just money in the parking meter.”
I thought this was a very cool way to look at it. Can you imagine someone deciding to NOT put $.50 in the parking meter to avoid a $60.00 ticket? (Well maybe if I forgot any change—and was in a REAL BIG hurry.) Percentage-wise, the inspection fee is actually a smaller percentage of what they might end up “owning” had they “not put the money in the meter”—-especially when they factor in not only the cost of the home but the extra cost of repairs.
By all accounts—-inspections are dirt cheap—-cheaper than putting money in a parking meter.
Charles Buell, Seattle Home Inspector