BOSTON – A new regulation has taken effect in Massachusetts concerning inspections for residential home sales.
Governor Maura Healey’s administration implemented a new policy within the Affordable Homes Act, which prohibits sellers or their agents from transacting a home on the condition that the buyer waives the inspection.
The new rule also prevents a seller from accepting an offer, if they were informed in advance that the buyer intends to waive their right to an inspection.
The Healey administration says the new policy protects homebuyers’ rights to a home inspection, and serves as a leading example of such protections in the country.
The regulation confirms that a buyer may choose not to conduct an inspection, as long as the decision is not influenced by the seller or their agent, and prohibits contract terms that decrease the effectiveness of inspections, while still permitting reasonable, negotiated terms such as repair cost thresholds or return of deposit.
“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,” said Executive Office of Housing and Livable Communities Secretary Ed Augustus.
The governor’s office says in recent years, homebuyers have too often been pressured to choose not to have a home inspection so their offer to purchase will be considered competitive.
This new regulation applies to sales that were made starting after October 15th.
By Jim McCabe, CapeCod.com NewsCenter
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