"The new law is part of the Affordable Homes Act signed by Gov. Maura Healey in August 2024. It bars sellers from accepting offers contingent on buyers agreeing to waive or limit inspections and prohibits buyers from signaling that they could waive inspections during negotiations, particularly in competitive situations. By outlawing this practice, the law aims to disincentivize house flippers and help level the playing field for first-time homebuyers in the Bay State's tight market."
"The revised law now includes an exemption for certain new construction homes, clarifies that a signed purchase agreement relieves buyers of the requirement to get a home inspection and makes room for flexibility regarding the timing of inspections, cost of repairs and contingencies during the negotiation process."
The law is part of the Affordable Homes Act signed by Gov. Maura Healey in August 2024. The law bars sellers from accepting offers contingent on buyers agreeing to waive or limit inspections and prohibits buyers from signaling that they could waive inspections during negotiations, particularly in competitive situations. The law aims to disincentivize house flippers and help level the playing field for first-time homebuyers in the Bay State's tight market. The revised law includes an exemption for certain new construction homes and clarifies inspection timing, repair costs, and contingency flexibility during negotiations.
Read at Boston Condos For Sale Ford Realty
Unable to calculate read time
Collection
[
|
...
]