VANCOUVER (NEWS 1130) — As Vancouver’s housing market continues to heat up, some home inspectors say business is cooling off.
James Bell, owner of Solid State Home Inspections, says the industry is experiencing a bit of a hiccup.
“You look at all the sales of housing and say wow, everything’s going like crazy, but the phone’s not ringing as much as it used to. This is across the board, we’re hearing that it’s going all the way from Victoria, in through the Lower Mainland,” Bell says.
“When you’re in a seller’s market, it means that you have the advantage and so you can wait for that deal with no subjects, which puts pressure on everybody on the market to put deals in with no subjects, so home inspections are being waived because buyers are trying to get advantages over other buyers in the market.”
Bell says it’s almost normal to see cash offers with no subject to financing, no subject to insurance, no subject to inspection, “all subjects that would have been in place even a year ago, when we were in a bit more of a balanced market.”