By Bob Katzen
The Senate 39-0, approved an amendment that requires the Executive Office of Housing and Livable Communities to implement regulations that secure a homebuyer’s right to have an inspection done on a property before finalizing the purchase of the home. The regulation bans the conditioning of a sale on waiving or limiting the buyer’s right to inspect the home.
“Buying a home is one of the biggest purchases many families will ever make,” said amendment sponsor Sen. Mike Moore (D-Millbury). “Shouldn’t you have the right to know exactly what you’re purchasing before you sign a binding contract? This amendment will curb the practice of making offers that waive the right to a home inspection, something that’s become increasingly common in this ultra-competitive real estate market.
Moore continued, ”Buyers must not feel obligated to waive inspections, risking their most important investment, in order to find their forever home. In a commonwealth where we have long taken a strong approach to consumer protections, this is an obvious step to protect families from financial ruin due to costly undisclosed repairs.”
(A “Yes” vote is for the amendment.)
Sen. Patricia Jehlen Yes
The HOME INSPECTIONS (S.2834) bill represents a significant step towards ensuring a safer, more transparent, and reliable home buying experience. With better-informed buyers and more reliable inspection practices, the overall stability of the housing market is likely to improve