Photo: Jeromey Russ/WBZ NewsRadio
BOSTON (WBZ NewsRadio) — There's a new law in Massachusetts that real estate buyers and sellers have to follow.
It's designed to prevent sellers from accepting an offer from a buyer that waives a home inspection.
Supporters of the new law say it protects buyers, while opponents say the new law is unnecessary.
President Elect of the Greater Boston Association of Realtors Joselin Malkhasian explained the new law. "The main purpose of this regulation is for buyers to be able to conduct a home inspection should they choose to have one, and that a seller, or a seller's agent, cannot request or require a buyer to waive their right to an inspection."
Buyers can still decide not to have an inspection, but it can't be a condition of the sale.
Malkhasian said some buyers may not like the new law because in the past, some buyers used the inspection as a bargaining tactic. "Their (the buyer's) advantage, if they couldn't provide a higher monetary sales price, was using the home inspection as leverage," she said. "And now, they're not able to do that anymore."
Exceptions to the new law include if a property is being sold at auction, if it's being transferred to a trust or family member, or when the home is new construction as long as the builder offers a one-year warranty.
The new law takes effect after Oct. 15.
WBZ NewsRadio's Jeromey Russ (@JeromeyRuss) reports.