New Real Estate Regulations in Massachusetts Shrink Homebuyers’ Negotiating Power
Both buyers and sellers in one of the country’s most competitive real estate markets could soon have less negotiating power.
In 2024, Gov. Maura Healey signed the Massachusetts Affordable Homes Act. The sprawling legislation included a measure requiring realtors to let potential buyers have a home inspection before purchasing a house.
Buyers can still choose to waive an inspection as “long as the decision is not influenced by the seller or their agent,” according to a press release put out by Healey’s office. It adds that the law, which goes into effect on October 15, will also require “a separate written disclosure informing buyers that acceptance of their offer is not contingent upon the waiver of a home inspection and that the buyer may choose to have the home inspected.”
The Greater Boston Real Estate Board has pushed back against the bill, accusing it of having “vague and overreaching liability provisions.” The board has also questioned
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