Interesting piece of legislation
We are seeing loads of sellers basically demanding buyers waive inspections, killing many HI businesses and hurting buyers…Right next door in RI. The state makes us get licensed “to protect buyers” then this happens… Last year and this year as many as 75% of buyers were waiving inspections because of panic and low inventory, sellers then strongarm the buyers into waiving inspections. Its nuts.
Same here in my area. Some agents, as rumor has it, have told buyers if they want to get the house to waive the contingencies. Of course there is no hard proof though.
The agents have discovered an EASY way to get to closing. In my state there are already several cases pending where buyers are suing the realtors for it. Not sure how it’ll pan out as the agent/broker makes them sign a waiver recommending they don’t waive the inspection contingency, at the same time verbally telling them they basically have to.