The Colorado legislature announced they will consider requiring home inspectors to be licensed, bonded and insured. I for one consider this a progressive step. We widely use the services of home inspectors in buying and selling real estate and the quality of their work is inconsistent at best. Did you know in the fine print on nearly every home inspectors contract their libility for making an error is their fee- yes that’s it. So while they are passing judgment on items that could result in $1,000s of dollars of costs their libiability is limited to a few hundred dollars. Case in point- a home I sold, which had an exterir deck. The inspector failed to inspect it despite easy access. Had he done so, he would have seen the damage, mold and structural issues. It ended up costing the homeowner $20,000 to replace. While the Seller did help pay for some of the repairs the home inspector fail to respond, nor did his insurance company. This is neither ethical nor professional and due to current laws the buyer had no recourse.
So let’s hope we can expect higher standards in the future! We will watch this dialogue with interest.