Buying or Selling a Home/Bad home inspection

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Question
I just bought a home here in Oklahoma City. Two leaks were discovered shortly after moving in behind the wall between the laundry room and the kitchen, one coming off the water heater and the other coming from the hose bib on the washer connection. After further evaluation by licensed professionals the leak from the water heater was determined to be at least a year old. As a result there is extensive water damage also causing a severe mold issue. The panel on the kitchen side was bowed out 6-8 inches. This damage was obviously sustained prior to me acquiring the home. The home inspector attributed it as heat from the oven. I felt there was neglect on the part of the seller and the home inspector, so I sent a letter to both parties asking for $750 from each. The damages were estimated around $1500-$1700, which didn’t include the $200 it cost to fix the plumbing. The home inspector agreed to give me $500, but the home owner refused to settle. I realize I probably don’t have much recourse against the seller since I signed the “Closing Acknowledgement and Release” form. The realtor offered me $250, but I’m wandering if I should ask for more. I talked to another realtor and they told me that if they selected the home inspector without giving me any option then I may have some recourse there. They told me basically that this was the only inspector who could get the inspection done in the time frame we needed. Do you think I would be able to get more money from the realtor?

Answer
Dear Michael;
This is a very difficult question since I am often 'pressured' into providing names of people who will get a job done quickly.  I cannot be responsible for their work and can honestly say that there is no home inspector that I have used whom I would trust completely.  They have all made mistakes at one point or another.  I would hate to be held responsible for their errors.  I am frankly amazed that you were the recipient of any money since in most instances, once you have closed on a home you own it along with all of the problems associated with it.  It's good to know that some professionals still take responsibility and will compensate accordingly.  If I were you, I would feel grateful that your real estate agent saw wisdom in offering the $250.  While the agent should have provided you with several names and choices, any attempt to recover further damages would require legal action which is more expensive and probably not worth the effort.

Best wishes,
Jessica Bryan

Buying or Selling a Home

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Jessica Bryan

Expertise

buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.

Experience

Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.

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