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Chinese Drywall Update and Home Inspection News 8/30/2010

Weekly newsletter from Kross Inspectors dedicated to keeping Real Estate

Professionals, Home Buyers, Home Sellers, Legal Professionals, and Consumers up to date on the latest news affecting our Real Estate markets.

OOPS! I bought a Chinese Drywall House!

Last week, Kross Inspectors fielded phone calls from several Investors that purchased homes containing defective drywall. Some of these Investors knew the home contained defective drywall and others did not find out until later!

 

A few of these calls last week were from Investors that purchased Chinese Drywall homes unknowingly, then found out after the fact.  A trend is developing in that these Investors have taken on remediation efforts WITHOUT proper guidance or without obtaining third party documentation of their remediation efforts.  Unfortunately, these are the ones stuck with an investment that cannot payoff. 

 

Unfortunately, the following scenario is becoming a trend:

 

  • Investor sees potential in a property with Chinese Drywall due to the listing price compared to other homes.
  • Investor buys home with intention of simply replacing the defective drywall.
  • Investor begins remediation efforts as a "weekend warrior" by guessing at which walls are defective drywall and only replacing those walls. (Often missing defective drywall due to their lack of experience.) 
  • OR
  • Investor closes on property and contracts a "Chinese Drywall Remediation Contractor" (all of these claim to be experts).
  • Either the Investor demands that the Contractor take shortcuts to save money (and increase the Investor's profit) or the Contractor takes shortcuts to underbid the competition.

These events ALL result in one conclusion: The Investor sacrifices profit by not seeking professional advice PRIOR to purchasing a property.  Shortcuts taken during the remediation process ALWAYS result in a property that is not marketable and not rentable. 

 

These Investors are now coming to the most experienced firm in Chinese Drywall Inspections to obtain an Inspection report that "clears" the home of defective drywall.  Unfortunately, the shortcuts taken to save money are costing the Investors more money than they would ever profit. 

 

Although an Investor may inform us that they have remediated the property, unless we witnessed the remediation efforts first hand, we cannot attest that ALL of the defective drywall was removed.  Furthermore, the shortcuts taken often leave behind residual evidence of defective drywall.  The ONLY way to "clear" a home of defective drywall after remediation if the Inspector did not witness the remediation efforts is to test EACH piece of installed drywall.  This is now costing those Investors THOUSANDS of dollars, sometimes turning their investment into a LOSS!

 

This time of the year is when the speculative investors are searching for those deals that have been sitting all summer during the slow season.  The most common question from these consumers is "What can I do to make sure I do not buy another Chinese Drywall house?".  The simple answer is, GET AN INSPECTION! More important, get an Inspection from a firm that is EXPERIENCED in Chinese Drywall Inspections!

 

Kross Inspectors offers Chinese Drywall Remediation Consulting for consumers.  Consumers find that paying a consultant with experience helps them increase their Return On Investment (ROI).  More important, a consultant can help REDUCE and/or eliminate LOSSES!

 

As the first Home Inspection firm in the country to offer Chinese Drywall Inspections, Kross Inspectors has developed a database of thousands of Chinese Drywall Inspections and Chinese Drywall Remediation Inspections.  With this extensive database of Inspections, we are able to provide consultation services to help Investors and Homeowners obtain their goal of creating a MARKETABLE property. 

 

To find out more about Chinese Drywall Remediation and services offered By Kross Inspectors to protect consumers, visit www.krossinspectors.com/drywallremediation or call our Chinese Drywall Hotline at 1-877-496-4662. 

How Can I Protect My Home In Florida If I Live In New Jersey?

Our Kross Inspectors HomeWatch Services has developed close relationships with many consumers that purchased a "vacation" or "retirement' home in Florida.  The most common concern is that these homeowners only visit their home for short periods of time, leaving their homes vulnerable to storm damage, burglaries, pest intrusion, and more. 

 

Kross Inspectors offers HomeWatch services that include periodic personal visits from a qualified Home Inspector. The Inspector acts as a personal guardian over your "Home Away From Home".

 

To find out more about our HomeWatch Services, please contact our Director of HomeWatch Services, Hanzel Ramos via Hanzel@krossinspectors.com or call (239) 839-2751. 

 

Coming Soon!:   Please visit www.krossinspectors.com/homewatchto learn more about new HomeWatch services.  How would you like to be able to watch your "Home Away From Home" from a secure Internet connection anywhere in the world?

Name That Deficieny!

Welcome to our weekly contest, giving Real Estate Professionals and Consumers a chance to win a $25 Gift Certificate from Kross Inspectors!

 

The rules are simple:  The first person to "Name That Deficiency" wil receive $25 Gift Certificate!  This week's prize is a $25 Starbucks Gift Certificate!

 

Please take a careful look at the photo to the left of this article (if you do not see the photo, please click the "View as Web Page" link at the top of this email).

 

To submit your guess as to what the deficiency is, please email Inspector@krossinspectors.com or visit www.krossinspectors.com/weeklycontest.

 

CONGRATULATIONS TO LAST WEEKS WINNER!

 

John Jaffee of Naples won last week's $25 Gift Certificate for Home Depot!

 

Kross Inspectors • 2710 Del Prado Blvd Unit 2165 • Cape Coral, FL 33904
http://www.krossinspectors.com
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