Massachusetts Senate Bill S197

Massachusetts 2023-2024 Regular Session

• Introduced: 2/16/23
• Refer: 2/16/23

Caption

Protecting consumer rights in purchasing safe and habitable homes

Impact

The bill introduces Chapter 143A to the General Laws, which provides detailed regulations surrounding home inspections and the responsibilities of sellers. Notably, it prohibits sellers from requiring buyers to waive their right to an inspection and specifies the conditions under which buyers can revoke their purchase offer based on inspection findings. This represents a significant shift in consumer protection within real estate transactions, as it places greater responsibility on sellers to disclose property conditions and ensures buyers have necessary protections against undisclosed defects.

Summary

Senate Bill S197, titled 'An Act protecting consumer rights in purchasing safe and habitable homes', aims to enhance the rights of consumers buying residential properties by mandating inspections prior to the sale. It specifically states that prospective purchasers of residential structures or condominiums are entitled to have the property inspected by a licensed home inspector within a specified timeframe after an offer to purchase has been accepted. This is intended to ensure that buyers are informed of the condition of the property before finalizing their purchase.

Contention

However, the bill has not come without its controversies. Some real estate professionals and sellers have expressed concerns that mandated inspections could delay transactions and impose additional costs on sellers. There is apprehension that while the bill aims to protect buyers, it may inadvertently create barriers in the housing market or reduce the willingness of homeowners to sell. The discussions surrounding the bill highlight a tension between consumer protection and the operational realities of real estate transactions, suggesting that further refinements may be necessary to balance these interests effectively.