I’ve been in Orlando FL all week and had the opportunity to talk directly to and listen in on classes from a actual lawyer who knows our business very well for many years now. Here’s just a few things I learned.
A. Your contract needs to lay out exactly what you will do. If you exceed your standard of practice you need to tell the client what you will be doing and what they can expect.
B. If you have E&O and Joe Ferry for example you better ask your carrier if you’re allowed to approach Joe for his services first before notifying them. Some carriers will void your policy if you don’t go to them first.
C. If your state has a statute for home inspectors you need to follow the standards of the state. Do not follow an association or mix the two.
D. Don’t mingle bank funds personal/business.
E. Don’t use fancy words in your reports or contracts. Most American’s have a 7 to 8th grade reading level. Keep it simple stupid.
F. He actually writes contracts for you after he researches rules in your state for a very affordable fee. I bought one.
G. Take pictures of every room and the outside to include the roof no matter the condition. If you’re sued Lawyers need a way to recreate the picture. You don’t need to include them in your report (ideal) but just have them ready.
H. Do not let anyone but the buyer sign your contract. If a realtor signs it or someone other than the potential owner of the home and something goes wrong the owner has every right to come after you and you will not have any protection (contract) to back you up. The contract you have signed by their rep will be thrown out 9 times out of 10.
Ok guys I’m not a lawyer. Hire one or call me for this guys name. Just passing along what I learned. If I think of more I will post it.