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Mark S. Londner, ACI, AIA
"Inspections that Educate"
540-668-6339

 

What is a Home Inspection?

A home inspection is a thorough examination of a residential property to identify potential defects, issues, or needed repairs. This process helps purchasers make informed decisions and negotiate repairs before finalizing the purchase; and helps existing homeowners better understand how to operate and maintain their home, and protect their investment.

How is a Building or Commercial Inspection different?

A commercial building inspection is a comprehensive evaluation of a property used for commercial purposes, such as office buildings, retail stores, warehouses, or restaurants. The inspection aims to assess the building's physical condition, identify potential defects or safety hazards, and evaluate its overall functionality.

Not unlike a home inspection, key aspects typically covered in commercial inspections include:
structural integrity, mechanical, electrical, and plumbing systems, roof and exterior conditions. However, in addition to assessing the building’s condition, concerns such as protecting the investment, ensuring public safety, and/or facilitating the sale or lease of a property, frequently come into play.

Unlike a home inspection where contracts for purchase include a home inspection contingency which grants a brief window of opportunity to have a home inspection; commercial pre-purchase contracts typically incorporate a due-diligence contingency.

A due diligence contingency is a clause in a commercial real estate purchase agreement that allows the buyer to terminate the contract without penalty if they discover material issues during their due diligence investigation. This contingency period typically lasts for a longer duration, during which the buyer can conduct various inspections, reviews, and tests to assess the property's condition, financial performance, and legal compliance.

Key aspects of a due diligence contingency:

Scope of investigation: The contingency clause often outlines the specific areas the buyer can investigate, such as the property's physical condition, environmental status, zoning compliance, financial records, and lease agreements.

Timeframe: The buyer is typically given a specific timeframe to complete their due diligence investigation. This period can vary depending on the complexity of the property and the specific needs of the buyer.  

Conditions for termination: The contingency clause may specify certain conditions that would allow the buyer to terminate the contract, such as discovering undisclosed material defects, environmental hazards, or title issues.  

Return of earnest money: The contract should outline how the earnest money deposit will be handled if the buyer exercises their right to terminate the contract under the due diligence contingency.

Why is a due diligence contingency important?

Protects the buyer: It provides the buyer with a safety net and allows them to make an informed decision about the purchase.

Encourages transparency: It incentivizes the seller to be upfront about any potential issues with the property.

Facilitates negotiations: It can be used as a bargaining chip to negotiate a better price or other favorable terms.

It's important to note that while there are distinct differences between home and building inspections, the specific scope and requirements can vary depending on the type of proper, location, and intended use. A well-drafted due diligence contingency clause is crucial to protect the buyer's interests. Consulting with a real estate attorney can help you understand the specific details of this clause and ensure it's tailored to your needs.

Services

LBI examines buildings and homes of all ages, types, styles — including antique properties, estates, and new construction. Although client needs may vary, inspection categories most frequently include:
• New Home and Building Inspections
• Previously Owned Home and Building Inspections
• Pre-Purchase Inspections
• Pre-Sale Inspections
• Pre-Drywall Inspections
• Home Tune-Up Inspections
• Pre-Settlement Walk-Throughs
• Pre-Warranty (expiration) Inspections
• Partial Inspections
• On-Site and/or Remote Consultation
• Environmental Testing

In addition to providing Inspection Services, LBI is available for your more specialized needs:
• Quality Control Construction Documentation
• Specialized Inspection needs
• Dispute Resolution
• Contractor, Architect, Condo/Homeowner Association concerns
• Litigation Support: Consultation, Testimony, Construction Forensics
• Free telephone consultation is readily available.

Inspection Priorities

Home Inspections are performed in conformance with the American Society of Home Inspectors' Standard of Practice, and jurisdictional requirements. LBI delivers an inspection report which will provide you with a thorough, impartial evaluation of all major components and systems including, but not necessarily limited to:

• Immediate Grounds
• Grading and Drainage
• Garage and Outbuildings
• Exterior
• Roof, Gutters and Chimney
• Siding, Windows and Doors
• Structure
• Basement and Crawl Space
• Heating and Air Conditioning
• Electrical and Plumbing
• Attic, Insulation and Ventilation
• Interior
• Kitchen and Appliances

Educating the Client

In addition to providing you with the knowledge to make informed decisions regarding any real estate contract and/or property, LBI focuses on teaching you how to best protect your investment. We place great emphasis on training clients not only how to maintain their property, but how to most effectively, economically, and safely operate the systems and equipment as well.

Although finding conditions that may relate to your purchase or sale contract is most important, the ability to maintain, and safely enjoy your property is just as important.

Your inspection report along with your supplemental 'How To Operate Your Home' manual, combined are similar to the operational and maintenance manuals found in the glove box of your vehicle. After participating in an LBI Educational Inspection, a client shared a quote, attributed to Ben Franklin, which he said best described what he had just experienced…

“Tell me and I forget. Teach me and I remember. Involve me and I learn."

Serving Virginia, West Virginia, Maryland, Delaware, and the District of Columbia... LBI Home & Building Inspection provides a broad range of construction related services. These services can be frequently combined and/or modified in order to best fit our various clients' needs.

    LBI Home Inspection is your source for Home Inspections, Home Inspectors, ASHI Home Inspection, ASHI Home Inspectors, Licensed Home Inspectors, Certified Home Inspectors and more.

    Our Virginia service area includes Clarke County, Fairfax County, Fauquier County, Frederick County, Leesburg, Loudoun County, Middleburg, Purcellville, Reston, Sterling, Ashburn, Winchester and more. We also service Washington D.C., Maryland, and West Virginia.  We will serve additional counties and cities per request and demand.

Page last updated: 18 December 2024 at 4:34pm