April 23, 2018

Survey: REOs Safer Bet if Inspection-Approved

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Survey: REOs Safer Bet if Inspection-Approved

About 84 percent of home buyers say distressed properties can be a good deal, and they would be more likely to consider buying a distressed property if a home inspector vowed that it was in good condition, according to a recent survey by the American Society of Home Inspectors. 

ASHI points to the findings as way to help increase buyer confidence in distressed sales.

The survey, conducted by Harris Interactive on behalf of ASHI, found that home inspections can increase buyer confidence for other home purchases too. Eighty-eight percent of adults surveyed said that a home inspection made them feel more confident about a property purchase.  

That said, many home owners still have some confusion over what all a home inspection entails, the survey found. Twenty-eight percent of home owners mistakenly said that the inspection is to verify that a home complies with local building codes. What’s more, more than one-in-10 home owners confused a home inspection with an appraisal, according to the survey.

Source: American Society of Home Inspectors

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