MONUMENTAL VICTORY FOR HOME BUYERS!
We are pleased to announce that beyond overwhelming odds, our Home Buyer Protection language passed and was included in the Housing Bond Bill that was passed and signed into law by Governor Healy on August 6th, 2024.
This is a monumental victory for Massachusetts home buyers and home inspectors. Overcoming significant odds, with both a strong Realtor lobby in full opposition to our bill, and the general breakdown of legislative leadership not passing eight different Conference Committee reports, the Legislature and the Governor agreed with the need for this commonsense Consumer Protection bill, and it survived.
The intent: The law will remove the Home Inspection contingency from the offer of purchase. A homebuyer will have the right under state law to obtain a home inspection by a licensed home inspector before their purchase. To protect them from having their offer rejected based on their desire to have the property inspected, sellers cannot make their acceptance of offers contingent on waiving inspections. Once their offer is accepted, they are free to tell the seller that they intend to have an inspection or not. It is not mandatory.
There is still work to be done. The specific regulations necessary to implement the intent of the law still need to be written by the Executive Office of Housing and Livable Communities. This will take time, and we will continue to work to ensure the language supports the intent of the law.
Thank you for your patience and dedication to your profession. We are fighting every day for all of you.
Sincerely,
ASHI New England,
Tiger Home Inspections, and
Everyone Who Donated to the Home Buyer Protection Fund!
“The Law as signed by Governor Healey,
August 6th, 2024″
Section 101. The executive office of housing and livable communities shall promulgate regulations to ensure that no seller of a residential structure or a residential condominium unit, or an agent thereof, shall: (i) condition the acceptance of an offer to purchase on the prospective purchaser’s agreement to waive, limit, restrict or otherwise forego any prospective purchaser’s right to have the structure or unit inspected, except when the sale of the structure or unit is to occur at an auction conducted by an auctioneer licensed under chapter 100; or (ii) accept an offer to purchase from a prospective purchaser, or an agent thereof who, in advance of the seller’s acceptance of an offer, informs the seller, either directly or indirectly, that the prospective purchaser intends to waive, in whole or in part, the prospective purchaser’s right to inspection; provided, however, that the seller may accept such an offer without violating this section if the prospective purchaser is: (A) the spouse, sibling, child, parent, grandparent, grandchild, great-grandchild or great-grandparent of the seller; or (B) the former spouse of the seller and the sale of the structure or unit is being made pursuant to a judgment or order under chapter 208; provided further, that other limited exceptions may be provided for by regulation.