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: Closing Real Estate in Chicago

It Works with Used Cars, Why Not Your Home

By Peter Olson, Esq.

I'm speaking of ZipRealty's new "24-Point Inspected and Certified" sales program for their listed properties. Here's the news:

ZipRealty's sellers can opt to have their home inspected by a state-licensed home inspector and offer the buyer a home warranty for a combined fee ranging from $500 to $560, depending on the state. The inspection includes 24 specific areas of the home, including the attic, foundation, windows, doors, fireplace, kitchen, electrical and plumbing systems. Homes that meet the inspection standard in each category will receive the "24-Point Inspected & Certified" designation. Potential buyers searching for homes in good condition will see the "24-Point Inspected & Certified" designation on both ZipRealty.com and Realtor.com, as well as on home flyers and signs at the property.

Cutting through the BS, they're asking you to pay them $500-$600 for a home inspection and 1-year home warranty. In this current market climate nearly every seller should be including those two items regardless. Pay for the warranty at closing and have an inspection report available to every buyer coming to view the property and deal with repair issues raised. Particularly on the inspection, why use Zip's "conflicted" person instead of your own independent professional?

Full post as published by Closing Real Estate in Chicago on June 09, 2008 (boomark / email).