HOME INSPECTION AGREEMENT
TERMS AND CONDITIONS
THIS CONTRACT LIMITS LIABILITY
It is agreed by all that this inspection is to be performed according to the following terms and conditions:
1. MASTER-BUILDERS GROUP, INC. agrees to perform a visual inspection of the home/building and to provide CLIENT with a written report identifying the defects that MASTER-BUILDERS GROUP, INC. both observed and deemed material. MASTER-BUILDERS GROUP, INC. may offer comments as a courtesy, but these comments will not comprise the bargained- for report. The report is only supplementary to the seller’s disclosure.
2. Unless otherwise inconsistent with this Agreement or not possible, MASTER-BUILDERS GROUP, INC. agrees to perform the inspection in accordance with the current Standards of Practice of the International Association of Certified Home Inspectors (“InterNACHI”) posted at http://www.nachi.org/sop.htm. Although MASTER-BUILDERS GROUP, INC. agrees to follow InterNACHI’s Standards of Practice, CLIENT understands that these standards contain limitations, exceptions, and exclusions. CLIENT understands that InterNACHI is not a party to this Agreement and has no control over MASTER-BUILDERS GROUP, INC. or representations made by MASTER-BUILDERS GROUP, INC. and does not supervise MASTER-BUILDERS GROUP, INC.. Unless otherwise indicated below, CLIENT understands that MASTER-BUILDERS GROUP, INC. will NOT be testing for the presence of radon – a colorless, odorless, radioactive gas that may be harmful to humans. Unless otherwise indicated below, CLIENT understands that MASTER-BUILDERS GROUP, INC. will NOT be testing for mold. Unless otherwise indicated in a separate writing, CLIENT understands that MASTER-BUILDERS GROUP, INC. will not test for compliance with applicable building codes or for the presence of potential dangers arising from asbestos, lead paint, formaldehyde, molds, soil contamination, and other environmental hazards or violations.
3. The inspection and report are for the use of CLIENT only, who gives MASTER-BUILDERS GROUP, INC. permission to discuss observations with real estate agents, owners, repairpersons, and other interested parties. MASTER-BUILDERS GROUP, INC. shall be the sole owner of the report and all rights to it. MASTER-BUILDERS GROUP, INC. accepts no responsibility 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 MASTER-BUILDERS GROUP, INC. (including employees and business entities) from any liability whatsoever. Any third parties who rely on the report in any way also agree to all provisions in this Agreement. MASTER-BUILDERS GROUP, INC.’S inspection of the property and the 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. All warranties, express or implied, including warranties of merchantability and fitness for a particular purpose, are expressly excluded to the fullest extent allowed by law. If any structure or portion of any structure that is to be inspected is a log home, log structure or includes similar log construction, CLIENT understands that such structures have unique characteristics that make it impossible for an MASTER-BUILDERS GROUP, INC. to inspect and evaluate them by an exterior visual inspection. Therefore, the scope of the inspection to be performed pursuant to this Agreement does not include decay of the interior of logs in log walls, log foundations or roofs or similar defects.
4. MASTER-BUILDERS GROUP, INC. assumes no liability for the cost of repair or replacement of unreported defects or deficiencies either current or arising in the future. CLIENT acknowledges that the liability of MASTER-BUILDERS GROUP, INC., its agents and/or employees, for claims for damages, costs of defense or suit, attorney’s fees and expenses arising out of or related to MASTER-BUILDERS GROUP, INC.’S negligence or breach of any obligation under this Agreement, including errors and omissions in the inspection or the report, shall be limited to liquidated damages in an amount equal to the fee paid to the MASTER-BUILDERS GROUP, INC., and this liability shall be exclusive. CLIENT waives any claim for consequential, exemplary, special or incidental damages or for the loss of the use of the home/building even if the CLIENT has been advised of the possibility of such damages. The parties acknowledge that the liquidated damages are not intended as a penalty but are intended (i) to reflect the fact that actual damages may be difficult and impractical to ascertain; (ii) to allocate risk among MASTER-BUILDERS GROUP, INC. and CLIENT; and (iii) to enable MASTER-BUILDERS GROUP, INC. to perform the inspection at the stated fee.
5. MASTER-BUILDERS GROUP, INC. does not perform engineering, architectural, plumbing, or any other job function requiring an occupational license in the jurisdiction where the inspection is taking place, unless MASTER-BUILDERS GROUP, INC. holds a valid occupational license, in which case he/she may inform the CLIENT that he/she is so licensed, and is therefore qualified to go beyond this basic home inspection, and for additional fee, perform additional inspections beyond those within the scope of the basic home inspection. Any agreement for such additional inspections shall be in a separate writing.
6. In the event of a claim against MASTER-BUILDERS GROUP, INC., CLIENT agrees to supply MASTER-BUILDERS GROUP, INC. with the following: (1) written notification of adverse conditions within 14 days of discovery; and (2) access to the premises. Failure to comply with the above conditions will release MASTER-BUILDERS GROUP, INC. and its agents from any and all obligations or liability of any kind.
7. The parties agree that any litigation arising out of this Agreement shall be filed only in the Court having jurisdiction in the County in which MASTER-BUILDERS GROUP, INC. has its principal place of business. In the event that CLIENT fails to prove any claims against MASTER-BUILDERS GROUP, INC. in a court of law, CLIENT agrees to pay all legal costs, expenses and fees of MASTER-BUILDERS GROUP, INC. in defending said claims. CLIENT further understands that any legal action against InterNACHI itself allegedly arising out of this Agreement or MASTER-BUILDERS GROUP, INC.’s relationship with InterNACHI must be brought only in the District Court of Boulder County, Colorado. No such action may be filed unless the plaintiff has first provided InterNACHI with 30 days’ written notice of the nature of the claim. In any action against MASTER-BUILDERS GROUP, INC. and/or InterNACHI, CLIENT waives trial by jury.
8. If any court declares any provision of this Agreement invalid, the remaining provisions will remain in effect. This Agreement represents the entire agreement between the parties. All prior communications are merged into this Agreement, and there are no terms or conditions other than those set forth herein. No statement or promise of MASTER-BUILDERS GROUP, INC. or its agents shall be binding unless reduced to writing and signed by MASTER-BUILDERS GROUP, INC.. No change shall be enforceable against any party unless it is in writing and signed by the parties. This Agreement shall be binding upon and enforceable by the parties and their heirs, executors, administrators, successors and assignees. CLIENT shall have no cause of action against MASTER-BUILDERS GROUP, INC. after one year from the date of the inspection.
9. Payment of the fee to MASTER-BUILDERS GROUP, INC. is due upon completion of the on-site inspection. The CLIENT agrees to pay all legal and time expenses incurred in collecting due payments, including attorney’s fees, if any. If CLIENT is a corporation, LLC, or similar entity, the person signing this Agreement on behalf of such entity does personally guaranty payment of the fee by the entity.
10. If CLIENT requests a re-inspection, the re-inspection is also subject to all the terms and conditions set forth in this agreement.
11. This Agreement is not transferable or assignable.
12. Should any provision of this Agreement require judicial interpretation, the Court shall not apply a presumption that the term shall be more strictly construed against one party or the other by reason of the rule of construction that a document is to be construed more strictly against the party who prepared it.
13. HOLD HARMLESS AGREEMENT: CLIENT agrees to hold any and all real estate agents involved in the purchase of the property to be inspected harmless and keep them exonerated from all loss, damage, liability or expense occasioned or claimed by reasons of acts or neglects of the MASTER-BUILDERS GROUP, INC. or his employees or visitors or of independent contractors engaged or paid by MASTER-BUILDERS GROUP, INC. for the purpose of inspecting the subject home