INDIANA RESIDENTIAL VISUAL HOME INSPECTION AGREEMENT
ESTATE GROUP FINANCE, LLC
409 S OHIO STREET, MARTINSVILLE, INDIANA 46151
EIN:
INDIANA LICENSE #
INTERNACHI MEMBER #
This is an Agreement between you, the undersigned Client, and us, the Inspector, pertaining to our inspection of the Property at: _________________________________. The terms below govern this Agreement.
- The fee for our inspection is $__________, payable [in full / in part at $ ___] at a time [before / after] the appointment.
- We will perform a visual inspection of the home/building and provide you with a written report identifying the defects that we (1) observed and (2) deemed material. The report is only supplementary to the seller’s disclosure.
- Unless otherwise noted in this Agreement or not possible, we will perform the inspection in accordance with the current Standards of Practice (SOP) of the International Association of Certified Home Inspectors (“InterNACHI”) posted at http://www.nachi.org/sop If your jurisdiction has adopted mandatory standards that differ from InterNACHI’s SOP, we will perform the inspection in accordance with your jurisdiction’s standards. You understand that InterNACHI’s SOP contains limitations, exceptions, and exclusions. You understand that InterNACHI is not a party to this Agreement, has no control over us, and does not employ or supervise us.
- Unless otherwise indicated in writing, we will NOT test for the presence of radon, a harmful gas. Unless otherwise indicated in writing, we will not test for mold. Unless otherwise indicated in writing, we will not test for compliance with applicable building codes or for the presence of or for any potential dangers arising from the presence of asbestos, lead paint, soil contamination, or other environmental hazards or violations. If any structure you want us to inspect is a log structure or includes log construction, you understand that such structures have unique characteristics that may make it impossible for us to inspect and evaluate them. Therefore, the scope of our inspection will not include decay of the interior of logs in log walls, log foundations or roofs, or similar defects.
- Our inspection and report are for your use only. You give us permission to discuss our observations with real estate agents, owners, repair persons, or other interested parties. You will be the sole owner of the report and all rights to it. We are not responsible for use or misinterpretation by third parties, and third parties who rely on it in any way do so at their own risk and release us (including employees and business entities) from any liability whatsoever. If you or any person acting on your behalf provide the report to a third party who then sues you and/or us, you release us from any liability and agree to pay our costs and legal fees in defending any action naming us. Our inspection and report are in no way a guarantee or warranty, express or implied, regarding the future use, operability, habitability or suitability of the home/building or its components. We disclaim all warranties, express or implied, to the fullest extent allowed by law.
- LIMITATION ON LIABILITY AND DAMAGES. We assume no liability for the cost of repair or replacement of unreported defects, either current or arising in the future. In all cases, our liability is limited to liquidated damages in an amount not greater than 1.5 times the fee you paid us. You waive any claim for consequential, exemplary, special or incidental damages or for the loss of the use of the home/building. You acknowledge that this liquidated damages is not a penalty, but that we intend it to: (i) reflect the fact that actual damages may be difficult or impractical to ascertain; (ii) allocate risk between us; and (iii) enable us to perform the inspection for the agreed-upon fee. If you wish to eliminate this liquidated damages provision, we are willing to perform the inspection for an increased fee of $______, payable in advance.
- We do not perform engineering, architectural, plumbing, or any other job function requiring an occupational license in the jurisdiction where the property is located. If we hold a valid occupational license, we may inform you of this and you may hire us to perform additional functions. Any agreement for such additional services shall be in a separate writing.
- CLIENT UNDERSTAND THAT ESTATE GROUP FINANCE OPERATES IN PART WITH INDEPENDENT LICENSED INSPECTORS AND CONTRACTORS THROUGHOUT INDIANA TO PERFORM INSPECTIONS, TESTING, FUNDING SERVICES: FOR CONSTRUCTION, REMODELING, INSPECTIONS AND TESTING DURING THE HOME BUYING PROCESS BY OFFERING DEFERRED PAYMENTS AND LOW INTEREST PAYMENT PLANS TO QUALIFIED HOME BUYERS.
- If you believe you have a claim against us, you agree to provide us with the following: (1) written notification of your claim within seven days of discovery in sufficient detail and with sufficient supporting documents that we can evaluate it; and (2) immediate access to the premises. Failure to comply with these conditions releases us from liability.
- You agree that the exclusive venue for any litigation arising out of this Agreement shall be in the county where we have our principal place of business. If you fail to prove any claim against us, you agree to pay all our legal costs, expenses and attorney’s fees incurred in defending that claim. You agree that the exclusive venue for any legal action against InterNACHI itself, allegedly arising out of this Agreement or our membership in InterNACHI, will be in Morgan County, Indiana. Before bringing any such action, you must provide InterNACHI with 30 days’ written notice of the nature of the claim in sufficient detail and with sufficient supporting documents that InterNACHI can evaluate it. In any action against us or InterNACHI, you waive trial by jury.
- If a court declares any provision of this Agreement invalid, the remaining provisions remain in effect. This Agreement represents our entire agreement; there are no terms other than those set forth herein. All prior discussions are merged into this Agreement. No statement or promise by us shall be binding unless reduced to writing and signed by one of our authorized officers. Any modification of this Agreement must be in writing and signed by you and by one of our authorized officers. This Agreement shall be binding upon and enforceable by the parties and their heirs, executors, administrators, successors and assignees. You will have no cause of action against us after one year from the date of the inspection.
- Past-due fees for your inspection shall accrue interest at 8% to 12% per year. You agree to pay all costs and attorney’s fees we incur in collecting the fees owed to us. If the Client is a corporation, LLC, or similar entity, you personally guarantee payment of the fee.
- If you request a re-inspection, the re-inspection is subject to the terms of this Agreement.
- You may not assign this Agreement.
- If a court finds any term of this Agreement ambiguous or requiring judicial interpretation, the court shall not construe that term against us by reason of the rule that any ambiguity in a document is construed against the party drafting it. You had the opportunity to consult qualified counsel before signing this.
- If there is more than one Client, as in marriage, business partnerships, shared ownerships, all parties must be listed in the agreement and notified sign for proper authorization of work to be performed, unless you are authorized to represent all parties involved and signing on behalf of all of them.
- If you would like a large print version of this Agreement before signing it, you may request one by emailing us.
- If your inspector participates in InterNACHI’s Buy-Back Guarantee Program, you will be bound by the terms you may view at http://www.nachi.org/buy
It is understood and agreed that this inspection will be of
readily accessible areas of the property and is limited to
visual observations of apparent condition existing at the time
of the inspection only.
- LATENT AND CONCEALED DEFECTS AND DEFICIENCIES ARE
EXCLUDED FROM THE INSPECTION. Items and systems will
not be dismantled. The inspector is not required to move
personal property, debris, furniture, equipment, carpeting, or
like materials that may impede access or limit visibility.
Crawl spaces will not be entered if there is less than three
feet of clearance or inspector feels endangered. - THE INSPECTION IS NOT INTENDED TO BE TECHNICALLY
EXHAUSTIVE. If cost estimates are quoted in the report, the
estimates are based upon the inspector’s judgement or a
range of prices available in the area. The estimates are not
binding and the ranges may vary. Individual bids from
contractors may vary substantially depending on the quality
of the work, the circumstances, and the contractor
submitting bids. CUSTOMER is urged to solicit bids from
properly licensed contractors on repairs reported here before
closing. - Maintenance and other items may be discussed, but they are
not a part of this inspection. THE REPORT IS NOT A
COMPLIANCE INSPECTION OR CERTIFICATION FOR PAST OR
PRESENT GOVERNMENTAL CODES OR REGULATIONS OF ANY
KIND. Opinions of the inspector are independent of any
governmental codes or regulations. The inspector may
disagree with past or present governmental codes or
regulations. The inspector’s opinions may be inconsistent
with, or may contradict, past or present governmental codes
or regulations. The inspector does not have any authority,
nor does the inspector purport to have any authority, to
interpret any past or present governmental codes or
regulations. - Pressure gauges are NOT used to test air conditioners, water
lines, or GAS LINES. Garbage disposers are checked for on
and off operation only. Only the dishwasher’s ability to fill
and drain without obvious leaks is checked. Dishwashers,
ranges, ovens, microwave ovens and like appliances, and
their timers, controls or elements are not checked. Selfcleaning ovens are not operated, inspected, or tested.
Remote controls for garage doors or any other appliances or
systems are not checked. Electrical outlets are randomly
checked. A sampling of windows and doors will be operated. - This inspection and report does not address and is not
intended to address the possible presence of, or danger
from, any potential harmful substances or environmental
hazards, including, but not limited to natural gas, radon gas,
lead paint, asbestos, urea formaldehyde, carbon monoxide,
carbon dioxide, toxic or flammable chemicals, water related
illness or disease, including lead or other harmful substance,
or airborne related illness or disease and all other similar or
potentially harmful substances. CUSTOMER is urged to
contact a reputable specialist if information, identification or
testing for the above is desired. In addition, the presence or
absence of rodents, termites, other insects, or other vermin
is not covered by this inspection or the damage caused by
rodents, termites, other insects or other vermin. - It is the responsibility of the CUSTOMER to inquire about
burglar/security alarm operation and service procedures to
determine whether the alarm is owned or leased from a
servicing company. - It is the responsibility of the CUSTOMER to furnish the
inspector with a list of any defects that are known at the
time of the inspection. All disclosure statements must be
given to the inspector immediately. The CUSTOMER is
encouraged to attend the inspection. THIS INSPECTION IS
CONSIDERED TO BE A POINT IN TIME INSPECTION. - INSPECTOR’s report is prepared exclusively for CUSTOMER.
The report is not intended for third party dissemination. This
report shall not be forwarded to any other person, company,
or legal entity without INSPECTOR’s express written
approval. INSPECTOR copyrights this report, which is
protected by copyright law. - INSPECTOR accepts no responsibility for misinterpretation of
this report. - Payment is expected and due upon completion of the
inspection. There will be a billing charge for inspections not
paid on completion, and an additional service charge of 1½%
per month (18% per annum) for accounts not paid within 30
days. There will be a $95.00 returned check charge. Any,
and all, legal fees incurred by INSPECTOR to collect fees will
be assessed against CUSTOMER. - INSPECTOR ASSUMES NO LIABILITY AND SHALL NOT BE
LIABLE FOR ANY MISTAKES, OMISSIONS, OR ERRORS IN
JUDGMENT OF ITS EMPLOYEES, OR SUBCONTRACTORS,
BEYOND THE COST OF THE INSPECTION REPORT. THIS
LIMITATION OF LIABILITY SHALL INCLUDE AND APPLY TO
ALL CONSEQUENTIAL DAMAGES, BODILY INJURY AND
PROPERTY DAMAGE OF ANY NATURE. INSPECTOR’S
LIABILITY ARISING OUT OF PERFORMANCE OF SERVICES TO
CUSTOMER WILL BE LIMITED TO NO MORE THAN THE
CONTRACT AMOUNT INSPECTOR HAS AGREED TO CHARGE
CUSTOMER FOR THE SERVICES IDENTIFIED HEREIN.
CUSTOMER AGREES TO INDEMNIFY AND HOLD HARMLESS
INSPECTOR FROM AND AGAINST ALL LIABILITIES IN EXCESS
OF THE CONTRACT AMOUNT. - BOTH PARTIES AGREE THAT INSPECTOR, IT’S EMPLOYEES,
AGENTS, OR REPRESENTATIVES, ASSUME NO LIABILITY OR
RESPONSIBILITY FOR THE COST OF REPAIRING OR
REPLACING ANY UNREPORTED DEFECTS OR DEFICIENCIES,
EITHER CURRENT OR ARISING IN THE FUTURE, OR FOR ANY
PROPERTY DAMAGE, CONSEQUENTIAL DAMAGE, OR BODILY
INJURY OF ANY NATURE. - THE INSPECTION AND REPORT ARE NOT INTENDED OR TO
BE USED AS A GUARANTEE OR WARRANTY, EXPRESSED OR
IMPLIED, REGARDING THE ADEQUACY, PERFORMANCE, LIFE
EXPECTANCY OR CONDITION OF ANY INSPECTED
STRUCTURE, ITEM OR SYSTEM. THIS REPORT IS TO BE
CONSIDERED A POINT IN TIME INSPECTION, MEANING THE
SYSTEMS AND ITEMS REPORTED ON ARE WORKING AS
REPORTED AT THE TIME OF THE INSPECTION. - Any dispute, controversy or claim arising out of, or relating
to, this agreement or the breach thereof shall be submitted
to final and binding arbitration. Arbitration will be conducted
through the offices of the Federal Mediation and Conciliation
Service or in conjunction with some other arbitration service
that is mutually agreeable to INSPECTOR and CUSTOMER.
The arbitration shall be held in ______
County, __________. The cost of the
arbitration shall be borne by CUSTOMER, unless the
arbitrator rules otherwise. Judgement on the award may be
entered in any court of competent jurisdiction. - If any provision of this Agreement shall be held
unenforceable, invalid, or void to any extent for any reason,
such provision shall remain in force and effect to the
maximum extent allowable, if any, and the enforceability or
validity of the remaining provisions of the Agreement shall
not be affected thereby. - This inspection does not include a test for the presence of
radon or other harmful or hazardous, or potentially harmful
or hazardous, substances. The United States Environmental
Protection Agency recommends that all homes that are part
of a real estate transaction be tested for radon gas, a known
cancer causing substance, and that homes reaching a radon
level of 4 pCi/L or higher be mitigated.
1 - INSPECTOR reserves the right to modify or amend this report
at any time or for any reason within 10 (ten) business days
of completion of the inspection. For purposes of this
provision, completion of the inspection is defined as being
after the inspector has completed the physical examination
of the property, has received and reviewed all property
disclosure forms and has received payment from CUSTOMER. - Inspections are performed according to generally accepted
industry standards and practices as they are understood by
INSPECTOR. INSPECTOR does not guarantee that the
inspection will be performed in full accordance with, or full
compliance with, any particular set or sets of standards or
practices.
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