Overview
- For purchase agreements signed on or after Oct. 15, sellers and agents cannot condition acceptance of an offer on a buyer waiving, limiting, or foregoing a home inspection.
- Buyers may still decline an inspection, but they are prohibited from signaling a waiver before an offer is accepted.
- Sellers must provide a separate written disclosure, signed by both parties, affirming that acceptance of the offer is not contingent on waiving the inspection right.
- The regulation covers sales of 1–4 unit homes, condominium units, and co-ops, and requires any inspection to be performed by a licensed inspector following state standards.
- Exemptions include new construction with a one-year builder warranty, intra-family or trust transfers, and auctions, and violations can constitute an unfair or deceptive practice with potential licensing consequences and legal implications.