A new law in Massachusetts is reshaping the home buying landscape by prohibiting sellers from requiring buyers to waive their right to a home inspection. This regulation, which took effect on Wednesday, is part of the broader Affordable Homes Act signed by Governor Maura Healey in 2023.
According to Ed Augustus, Secretary of Housing and Livable Communities, this change aims to level the playing field for both buyers and sellers in what has been a highly competitive housing market. Augustus emphasized the importance of home inspections, stating, “A home inspection is an important step in buying a property. Homebuyers must have the ability to make informed financial decisions and be given a clear picture of needed repairs or safety issues that could arise.”
The new regulation addresses concerns that homeowners have frequently felt pressured to waive inspections to make their offers more appealing. Under the revised law, sellers are now required to provide a written disclosure to potential buyers, clearly stating that acceptance of an offer is not contingent upon waiving a home inspection. This ensures that buyers can make more informed choices without undue pressure.
Despite this significant change, the law does not mandate inspections for all home sales in Massachusetts. Buyers still have the option to forego a home inspection, provided their decision is not unduly influenced by the seller or their agent.
There are notable exemptions to the law. It does not apply to newly constructed homes if the seller offers a one-year warranty. Additionally, the regulation does not cover transactions involving family members or trusts.
Failure to comply with the new home inspection law has serious implications. A real estate agent who does not follow these guidelines may be found to have committed an unfair or deceptive act, risking their professional license. Furthermore, if a seller faces legal action from a homebuyer, non-compliance with the inspection requirement could be seen as an attempt to misrepresent or conceal critical information in a real estate transaction.
This legislative change reflects a growing recognition of the need for transparency and fairness in the real estate market, particularly in light of the competitive conditions that have characterized the Massachusetts housing landscape in recent years. By ensuring that buyers have access to necessary inspections, the state aims to protect consumers and foster a more equitable real estate environment.
