I'm Conflicted - Should I Do These Reports?

[Eli]

Wrong. You have to do a minimum $3000 of business in TN before needing a license

Your right. Understandable. About anything medical related don’t have to have one. Accountants and architects don’t have to have one. But they pay a professional privilege business tax if they are licensed in TN.

 

[Eli]

your E&O insurance will not cover anything that goes wrong on an inspection.

Yours may not but mine does.

 

[TRESinc]

Yours may not but mine does.

so when you accidentally break the glass door or do other damage to the structure your E&O policy is going to cover it? guess again. you better give a call to your E&O provider so they can set you straight.

 

[Eli]

so when you accidentally break the glass door or do other damage to the structure your E&O policy is going to cover it? guess again. you better give a call to your E&O provider so they can set you straight.

No, but if I don’t measure it right, or make some other significant error, they will.

Interesting they consider that part of appraisal. You said they won’t cover anything that goes wrong. I guess my point flew right over your head. Sorry.

 

[residentialguy]

so when you accidentally break the glass door or do other damage to the structure your E&O policy is going to cover it?

I pull a Tommy Boy

 

[TRESinc]

No, but if I don’t measure it right, or make some other significant error, they will.

Interesting they consider that part of appraisal. You said they won’t cover anything that goes wrong. I guess my point flew right over your head. Sorry

nope, like usual you deflect instead of dealing with the issue at hand. E&O does not cover any problems you may cause on the inspection. it covers your appraisal, not your inspection. you are getting the two confused. E&O insurance is not the same as having a bond or having liability insurance.

the entire point of this, which you apparently missed somehow, was you stating people will require bonds and insurance for inspectors. you admittedly carry neither, so anything that goes wrong DURING your inspection will not be covered by insurance. break some glass? you pay for it. cause any damage to the property? you pay for it. break a window while measuring? you pay for it.

 

[Eli]

nope, like usual you deflect instead of dealing with the issue at hand. E&O does not cover any problems you may cause on the inspection. it covers your appraisal, not your inspection. you are getting the two confused. E&O insurance is not the same as having a bond or having liability insurance.

the entire point of this, which you apparently missed somehow, was you stating people will require bonds and insurance for inspectors. you admittedly carry neither, so anything that goes wrong DURING your inspection will not be covered by insurance. break some glass? you pay for it. cause any damage to the property? you pay for it. break a window while measuring? you pay for it.

Thank you for explaining that. If a contractor does not measure a house right or fails to note significant factors that impact value, what is going to cover them oh wise one?

Their wallet?

 

[TRESinc]

Thank you for explaining that. If a contractor does not measure a house right or fails to note significant factors that impact value, what is going to cover them oh wise one?

Their wallet?

you would have to ask a contractor, which i am not.

 

[KYLECODY]

NO!!

I didn't even read the thread. If you're conflicted, theres a reason. Just say no Nancy Reagan.

 

[OSU Beavers]

Kid needs braces. About a $5K hit to the family budget.
Lender has a huge bunch of enhanced 'desktop' appraisals I can do, for $75 each.
But should I do these?
Gad, such easy money to pay for the braces. However, something is making me nervous in my gut.
Should I be concerned about my compliance with USPAP, or just tell the lender I'll do these 'desktop' reports for them?

NO NO NO NO NO