Question: If my buyer doesn’t want to inspect, should I should have them sign the disclosure form and X out the home inspection contingency dates on the purchase agreement?
Answer: ABSOLUTLEY NOT. MAR states: “That would be a violation of the law and could subject the agents involved to claims of violating the Massachusetts Consumer Protection Act, Chapter 93A.” Further, “a buyer indicating that they need zero days to have a home inspection and decide to proceed would render the home inspection meaningless and therefore violate the law.”
“Parties cannot include any provision in a contract that would frustrate the purpose of the law and “render a home inspection meaningless”. This means that so long as they do not unreasonably limit the prospective buyer’s ability to schedule, receive and review a home inspection or prohibit the prospective buyer from choosing not to proceed with the transaction if the results of the home inspection are not satisfactory to the prospective buyer, the parties are free to negotiate and agree:
- To limit a prospective buyer’s choice to not proceed if the estimated aggregate cost of repairs does not exceed a reasonable monetary threshold agreed upon by the parties;
- To reasonably limit the prospective buyer’s deposit refund if they choose not to proceed with the transaction.”
(As we have outlined in the Inspection Contingency paragraph 7 options in our Berkshire purchase agreement).
But Why?
“These regulations were drafted to ensure that no seller of residential property conditions the acceptance of, or accepts an offer to purchase, where the prospective purchaser agrees or indicates in advance their willingness to waive a home inspection. In sum, the law and regulations secure the right of a buyer to conduct a home inspection if they wish and remove the ability to waive or negotiate away that right ahead of entering into a contract.”