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Dirty Rotten Sphigleramic Smagitpagit Ratzafratz

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King Illegal Forest To Pig Wild Kill In It A Is?

[Wall Street Apes @WallStreetApes]

There is a new scam going on in this home inspection industry

- Large corporations are buying up all the small home inspection companies
- They don’t care about making money off inspecting homes, they want the data

Why? This is where it gets borderline criminal

Home inspections are supposed to be confidential, but what they’re doing is buying all the companies to own the data

Then they are going to sell that data to insurance companies and lenders

Now with this new information the insurance company finds out, they're going to start charging you $3,000 (or whatever) extra a year to insure that house

Here’s what I’ve found

Large corporations and private equity firms are aggressively consolidating the home inspection industry primarily by buying inspection software platforms like Spectora, HomeGauge and larger inspection companies

A home inspection report contains highly detailed property specific information like roof age and condition, electrical and plumbing issues, foundation problems, HVAC status, environmental hazards

This is extremely valuable for:

- Insurance companies (risk assessment and underwriting).
- Lenders (property valuation and loan risk).
- Home warranty providers, contractors, and data brokers

Home inspections are supposed to be confidential between the buyer, inspector, and sometimes the real estate parties.

However, many inspection software companies’ terms of service allow data aggregation and sharing

That’s the loophole they found. That’s the scam