Massachusetts has implemented new regulations requiring sellers to provide written disclosures affirming homebuyers' right to inspections, ensuring buyers can make informed decisions about property purchases. This regulation, part of the broader Affordable Homes Act, aims to create a balanced market where buyers cannot be pressured to waive inspections. The rule was refined following public feedback and seeks to protect consumers from potential pitfalls associated with not conducting inspections. Additionally, certain exemptions for new construction pre-sales apply, and any failure to comply with these regulations is subject to consumer protection law penalties.
This new regulation creates a fairer, more even playing field for buyers and sellers, and HLC is proud to implement yet another smart policy from the historic Affordable Homes Act.
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.
Sellers cannot suggest or require the waiver of home inspections, ensuring buyers are informed during the property purchasing process.
The home inspection regulation was developed after a public comment period in May, during which EOHLC received more than 100 submissions.
#home-inspections #real-estate-regulations #affordable-homes-act #consumer-protection #massachusetts-housing-law
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