Inspector's Viewpoint |
Fall 2000 - By Dennis R. Robitaille, Director |
HUD Airs Misleading Public Service Announcement:Have you seen the HUD commercial where a new homeowner's plumbing pipes leak?The PSA tells homebuyers they can protect their dream house from becoming a nightmare by relying on a HUD appraisal under HUD's Homebuyer Protection Plan. The PSA gives a (false) impression that homebuyers can avoid buying a house with unknown defects by relying on HUD appraisals. The PSA says, "If any problems are found, you will know about them before you close." This message is incorrect, misleading, and potentially very damaging to consumers.There are key facts about appraisals and home inspections that HUD never discusses in the PSA. The purpose of appraisals is to determine the economic value of the home for the mortgage lender. They do not provide a detailed report on the home's condition to the homebuyer. Most people do not realize that the appraiser answers to the mortgage lender, not the homebuyer. Appraisers are not required to have the training, testing, and continuing education required of ASHI home inspectors.The PSA never tells viewers that HUD's Homebuyer Protection Plan requires homebuyers to sign a form called: "For Your Protection Get A Home Inspection". This form must be provided by the real estate professional. Consumers are being confused and diverted from getting home inspections due to this (misleading) Public Service Announcement.
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Ask The Inspector:
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Just Nonsense:
On the keyboard of life, always keep one finger on the escape key.There are two rules for ultimate success in life: (1) Never tell everything you know. |
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