Exclusive Buyer Representation Agreement YOU the prospective Buyer Buyer’s Name: _________________________________________________ (herein “Buyer”)
Broker: Gibson Sotheby’s International Realty (referred to as “Gibson SIR”) Ann Atamian
Buyer’s Agent: ______________________________________________________ Betty Gibson Associates, Incorporated, doing business as Gibson Sotheby’s International Realty (referred to as “Gibson SIR”), the Buyer’s Agent and the Buyer, in exchange of mutual promises agree as follows: 1. PROPERTIES Buyer is retaining Gibson SIR to be the exclusive Broker representing the Buyer in the purchase of real property. The Buyer retains the sole and absolute right to determine if a property is acceptable. 2. TERM This Agreement shall be in effect from the date of signing through Typically a year and location ________________________________________or to completion of the Acquisition of the property, if under agreement, whichever is later (the “Term”). The Buyer’s obligation to pay the compensation will continue for a 90-day period after the expiration of the Term of this Agreement for properties introduced and shown by the Buyer’s Agent during the Term. 3. GIBSON SIR AGREES TO: ● ● ● ● ● ● ● ● ● ●
Prepare a wants/needs list for the Buyer. Use reasonable efforts to locate properties acceptable to the Buyer through the Multiple Listing Service (MLS) and off MLS. Work in the Buyer’s best interest and preserve the Buyer’s confidential information. Maintain regular communication with the Buyer throughout the term of the Agreement. Attend scheduled showings of properties. Provide professional advice and guidance to the Buyer. Refer the Buyer to professionals such as lenders, attorneys, home inspectors, etc. Assist the Buyer in determining the market value of properties of interest. Provide a C Market Analysis for properties the Buyer is considering writing offers for, upon the Buyer’s request. Assist the Buyer in negotiating terms and conditions of the offer and home inspection issues, if applicable.
4. BUYER AGREES TO: ● ● ● ●
Work exclusively with Gibson SIR during the Term and to conduct all real estate purchase negotiations through Gibson SIR and the Buyer’s Agent. Cooperate with Gibson SIR by providing necessary personal information to evaluate Buyer’s needs and qualifications. Notify any other broker that the Buyer is working with Gibson SIR under the terms of this Agreement. Within 7 days of the entering into this Agreement and/ or prior to the Offer to Purchase, the Buyer will provide the Buyer’s Agent a pre-approval from a lender (if the Buyer is seeking financing) .
1
07/31/24 © Gibson Sotheby’s International Realty ● Each office is independently owned and operated
The Buyer represents that the Buyer is not working with any other Buyer’s Agent/Broker under the terms of an Exclusive Buyer Representation Agreement. . COMPENSATION The Buyer herein acknowledges to being advised that broker commissions are not set by law and are fully negotiable. Prior to showing a property as a buyer representative, a real estate agent who is a REALTOR® must enter into a written agreement with the buyer defining how the real estate broker will be paid. ● ● ● ● ● ●
2.5 The Buyer agrees to pay Gibson SIR compensation for representation in the amount of _____ % of the gross purchase price of any property purchased during the Term of this Agreement. The Buyer’s obligation to pay the compensation will be at the time the Buyer purchases the property and takes title. No fee will be due under this Agreement if the Buyer does not purchase a property. Gibson SIR may not accept Compensation or a fee in excess of the fee agreed in this Agreement. A seller or listing agent may offer to pay some or all of the compensation due to a broker representing a buyer but is under no legal to do so. The Buyer may, at the Buyer’s option, either (1) seek to have the Compensation paid in whole or in part by the seller in the terms of the offer to purchase and/or (2) pay the Compensation directly to Gibson SIR at closing.
. CONSENT TO DESIGNATED AGENCY A designated agent is a real estate licensee who has been appointed by a broker or salesperson to represent a buyer as a “designated buyer’s agent” or to represent a seller as a “designated seller’s agent.” When a buyer or seller consents to designated agency only that designated agent represents the buyer or seller. Any other agents affiliated with BROKER may represent another party to the transaction and by consenting to designated agency the buyer or seller permits those agents to represent another party. Individuals who are designated agents owe fiduciary duties to their respective clients. You are further advised that: (a) the designated buyer’s agent will represent the BUYER and will owe the BUYER the duties of loyalty, full disclosure, confidentiality, to account for funds, reasonable care and obedience to lawful instruction; (b) all other licensees affiliated with the appointing BROKER will not represent the BUYER nor will they owe the other duties specified in paragraph (a) to that BUYER, and may potentially represent the seller; and (c) if designated agents affiliated with the same broker represent the seller and buyer in a transaction, the appointing broker shall be a dual agent and neutral as to any conflicting interests of the seller and buyer, but will continue to owe the seller and buyer the duties of confidentiality of material information and to account for funds. By signing this agr
Ann Atamian 9035666
is authorized to represent me as a Designated Agent. I hereby consent to designated agency. If designated agency occurs in a transaction, a notice of designated agency will be given. DISCLAIMER Gibson SIR is being retained solely as a real estate broker and not as an attorney, lender, appraiser, surveyor, structural engineer, home inspector or other professional service provider. At the Buyer’s request, the Buyer’s Agent may refer the Buyer to such professionals. It is advised for the Buyer to contact Building Departments to inquire about potential open building permits and you are encouraged to speak with people in the Town or City Hall about other questions you may have about 2
07/31/24 © Gibson Sotheby’s International Realty ● Each office is independently owned and operated
the community. The Buyer’s Agent may work with other buyers during the Term of this Agreement and will treat all buyer information as confidential. . EQUAL OPPORTUNITY The parties hereto agree to abide by all applicable fair-housing laws. . MODIFICATION OF THIS AGREEMENT Any modification of this Agreement must be in writing, signed and dated by all parties. This Agreement constitutes the entire agreement between the parties and is a contract subject to Massachusetts law. Any prior agreements, whether oral or written, have been merged and incorporated into this Agreement. 1 . SELLER/LISTING BROKER TREATMENT OF OFFERS Buyer acknowledges being advised that Massachusetts law does not require the Seller or Listing Broker to treat the existence of offers, price terms or other conditions as confidential. 11. DISPUTES In the event that Buyer and Gibson SIR shall, for any reason, be unable to resolve a dispute arising from any of the terms of this Agreement, then either party may submit the matter to binding arbitration for the purpose of resolving the dispute. 12. OTHER PROVISIONS: ____________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ This Agreement constitutes a binding Massachusetts Contract. Buyer acknowledges GIBSON SIR’s advice to seek legal counsel relating to any provision of this Agreement if not understood and acknowledges receipt of (a) a copy of this Agreement, (b) a copy of the Massachusetts Mandatory Licensee-Consumer Relationship Disclosure Form, and (c) a brochure entitled “Home Inspector Facts For Consumers.”
______________________________________
_______________________________
Buyer
Broker of Record, Laurence Rideout
Date
______________________________________ Buyer
Date BROKER/SALESPERSON ACKNOWLEDGMENT OF DESIGNATED AGENCY
I acknowledge and agree to represent the above named consumer as a designated agent and my signature below signifies that I understand the duties and responsibilities of that relationship, and explained to the consumer that I am their agent, together with any other licensees expressly appointed as their designated agent; and that the appointing broker may become a "dual agent;" and that no one else affiliated with my firm represents them. __________________________________________________________________________________ Signature of Broker/Salesperson License Number Today’s Date
3
07/31/24 © Gibson Sotheby’s International Realty ● Each office is independently owned and operated
CONSENT TO DUAL AGENCY To Be Used if the Buyer is agreeing to the Buyer’s Agent acting as a Dual Agent Buyer understands and consents that the Broker may work as a Designated Seller’s Agent with a Seller client of the Broker and may therefore have to act as an individual Disclosed Dual Agent in a situation where they simultaneously represent the Buyer and Seller in the same transaction. Dual Agency is the result. A real estate broker or salesperson may act as a dual agent who represents both prospective buyer and seller with their informed written consent. A dual agent is authorized to assist the buyer and seller in a transaction, but shall be neutral with regard to any conflicting interest of the buyer and seller. Consequently, a dual agent will not have the ability to satisfy fully the duties of loyalty, full disclosure, reasonable care and obedience to lawful instructions, but shall still owe the duty of confidentiality of material information and the duty to account for funds. Buyers and sellers should understand that material information received from either client that is confidential may not be disclosed by a dual agent, except: (1) if disclosure is expressly authorized; (2) if such disclosure is required by law; (3) if such disclosure is intended to prevent illegal conduct; or (4) if such disclosure is necessary to prosecute a claim against a person represented or to defend a claim against the broker or salesperson. This duty of confidentiality shall continue after termination of the brokerage relationship. I acknowledge and agree that ____________________________________[insert name of licensee & license #] is (are) authorized to represent both the buyer and Seller as a Dual Agent. I hereby consent to dual agency. In the event dual agency occurs, written notice to both the Seller and the Buyer.
BROKER/SALESPERSON ACKNOWLEDGMENT REGARDING DUAL AGENCY I acknowledge and agree to represent the above named consumer as a dual agent and my signature below signifies that I understand the duties and responsibilities of that relationship, and explained to the consumer that I am a dual agent and therefore will assist the buyer and the seller in the transaction, but shall be neutral with regard to any conflicting interest of the buyer and seller. In the event dual agency occurs, that I represent the buyer and the seller in the same transaction, I shall give notice to the buyer in compliance with the applicable licensing law.
4
07/31/24 © Gibson Sotheby’s International Realty ● Each office is independently owned and operated
G R E A T E R
B O S T O N
R E A L
E S T A T E
B O A R D
OFFER TO PURCHASE REAL ESTATE TO
Owner on Record
Date:
(Seller and Spouse)
From the Office of : Ann Atamian 774 249 8718
Addresss
Gibson Sotheby's 544 Boston Post Weston, Ma 02493
The property herein referred to is identified as follows:
land & Building known as Address and described in MLS # & Deed book & page
Special provisions (if any) re fixtures, appliances, etc. Include/ Exclude items. Exp: include ref, exclude washer/Dryer hereby offer to buy said property, which has been offered to me by
Sellers agent, company,
Ann Atamian, Gibson Sotheby's, Buyers agent
as the Broker(s) under the following terms and conditions: CHECK ONE:
1. I will pay therefore $ (a) $ $1000
1,000,000
, of which
is paid herewith as a deposit to bind this Offer
Check, subject to collection Cash
Or deposit link
(b) $
$49,000
is to be paid as an additional deposit upon the execution of the Purchase and Sale Agreement provided for below.
(c) $
$925,000
is to be paid at the time of delivery of the Deed in cash, or by certified, cashier’s, treasurer’s or bank check(s).
(d) $ $1000000
(e) $ Total Purchase Price Ann Atamian 2. By accepting this Offer, you agree to pay my broker, _______________________, who is representing me and acting as my agent, a fee % fee or flat rate equal to ____________________________, which fee is included in the purchase price and shall be paid from the proceeds of the sale at the
time of closing. 3. This Offer is good until
A.M. P.M. on
, 20
at or before which time a copy hereof shall
be signed by you, the Seller and your (husband) (wife), signifying acceptance of this Offer, and returned to me forthwith, otherwise this Offer shall be considered as rejected and the money deposited herewith shall be returned to me forthwith. 4. The parties hereto shall, on or before
A.M. P.M. P&S Date
, 20
execute the applicable Standard Form Purchase
and Sale Agreement recommended by the Greater Boston Real Estate Board or any form substantially similar thereto, which, when executed, shall be the agreement between the parties hereto.
Closing date
5. A good and sufficient Deed, conveying a good and clear record and marketable title shall be delivered at 12:00 Noon on appropriate Registry of Deeds, unless some other time and place are mutually agreed upon in writing.
, 20
at the
Time TBD
6. If I do not fulfill my obligations under this Offer, the above mentioned deposit shall forthwith become your property without recourse to either party. Said deposit shall be held by
typically the listing brokerage house
as escrow agent subject to the terms hereof provided however that in the event
of any disagreement between the parties, the escrow agent may retain said deposit pending instructions mutually given in writing by the parties. A similar provision shall be included in the Purchase and Sale Agreement with respect to any deposit held under its terms. 7. Time is of the essence hereof. 8. Disclosures: For one to four family residences, the Buyer hereby acknowledges receipt of the Home Inspectors: Facts for Consumers brochure produced by the Office of Consumer Affairs. For residential property constructed prior to 1978, Buyer must also sign Lead Paint “Property Transfer Notification.” 9. The initialed riders, if any, attached hereto are incorporated herein by reference. Additional terms and conditions, if any:
Subject to & contingencies are added. Example: Subject to contingency addendum and Satisfactory appraisal
1 © 1962-2024 GREATER BOSTON REAL ESTATE BOARD All rights reserved. This form may not be copied or reproduced in whole or in part in any manner whatsoever without the prior express written consent of the Greater Boston Real Estate Board. Form ID: RA100.v2 PD: 05/05
NOTICE: This is a legal document that creates binding obligations. If not understood, consult an attorney. WITNESS MY HAND AND SEAL Buyer
Buyer
Address/City/State/Zip
Phone Numbers (Work & Home)
Receipt of deposit check for transmittal by: (Agent/Facilitator) Check shall not be deposited unless offer is accepted. This Offer is hereby accepted upon the foregoing terms and conditions at WITNESS my (our) hand(s) and seal(s) Seller (or spouse)
Date Received from
A.M. / P.M. on
, 20
Seller RECEIPT FOR DEPOSIT Buyer the sum of $
as deposit under the
terms and conditions of above Offer, to be held by
as escrow
agent. Under regulations adopted pursuant to the Massachusetts license law: All offers submitted to brokers or salespeople to purchase real property that they have a right to sell shall be conveyed forthwith to the owner of such real property. Agent for Seller
2 Form ID: RA100.v2
G
R
E
A
T
E
R
B
O
S
T
O
N
R
E
A
L
E
S
T
A
T
E
B
O
A
R
D
OFFER TO PURCHASE CONTINGENCY ADDENDUM The BUYER, if checked, hereby incorporates the following contingencies into this Offer to Purchase Real Estate.
MORTGAGE CONTINGENCY
Keep the page I already have!!!!
In order to help finance the acquisition of the property, the BUYER shall apply for a conventional bank or other institutional 80% LTV mortgage loan of $ ___________________ at prevailing rates, terms and conditions. If despite the BUYER’s diligent efforts a DATE commitment for such loan cannot be obtained on or before _____________, 20____, then the BUYER shall have the option of revoking this agreement by written notice to the SELLER and/or the Broker representing the SELLER prior to the expiration of such time, whereupon all deposits made by the BUYER shall be forthwith refunded, and this agreement shall become null and void and without further recourse to either party. In no event will the BUYER be deemed to have used diligent efforts to obtain such commitment unless the BUYER submits a complete mortgage loan application conforming to the foregoing provisions P&S Date on or before _______________, 20____.
INSPECTION CONTINGENCY
7+/- days are typical
The BUYER may, at the BUYER’s own expense and on or before _________________, 20____, have the property inspected by a duly-licensed person engaged in the business of conducting home inspections. If it is the opinion of such inspector that the property contains serious structural, mechanical or other defects and if the repair of such defects would cost the BUYER Add an amt in the aggregate more than $___________________, then the BUYER shall have the option of revoking the agreement by written notice to the SELLER and/or Broker representing the SELLER on or before ________________, 20____. Such notice shall be accompanied by a copy of the inspector’s opinion and cost estimates.
RADON CONTINGENCY The BUYER may, at the BUYER’s own expense and on or before ________________, 20__, have the property inspected for the presence of radon gas. In the event a customary test for the presence of radon gas indicates the presence of radon gas in excess of levels deemed acceptable by the federal Environmental Protection Agency, then the BUYER shall have the option of revoking the agreement by written notice to the SELLER and/or Broker representing the SELLER on or before ________________, 20____. Such notice shall be accompanied by a copy of the test results.
PEST INSPECTION CONTINGENCY The BUYER may, at the BUYER’s own expense on or before ______________, 20____, have the property inspected by a person engaged in the business of pest inspection and control. If it is the opinion of such inspector that the property is infested by termites or other wood boring pests, then the BUYER shall have the option of revoking this agreement by written notice to the SELLER and/or the Broker representing the SELLER on or before _______________, 20___. Such notice shall be accompanied by a copy of the inspector’s opinion and any related inspection report.
LEAD PAINT CONTINGENCY ADDENDUM The BUYER may, at the BUYER’s own expense and within ten (10) days after the acceptance of this agreement, have the property professionally inspected for the presence of paint, plaster or other accessible materials containing dangerous levels of lead (as such terms are defined by applicable Massachusetts laws and regulations). A copy of the inspector’s report shall be furnished to the SELLER upon receipt by the BUYER. If it is the opinion of such inspector that any such materials are present on the property, then the BUYER shall have the option of revoking this agreement by written notice to the SELLER and/or the Broker representing the SELLER prior to the expiration of such time. In the event the BUYER revokes the agreement consistent with the terms of the above selected Contingencies, then any deposits made by the BUYER shall be forthwith refunded, and this agreement shall be null and void and without further recourse to either party.
Initials:
SELLER (or Spouse)___________________________________SELLER______________________________________ BUYER__________________________________________________BUYER__________________________________________ Broker(s)__________________________________________________________________________________________
© 1978-2007 GREATER BOSTON REAL ESTATE BOARD All rights reserved. This form may not be copied or reproduced in whole or in part in any manner whatsoever without the prior express written consent of the Greater Boston Real Estate Board. Form ID: RA102 PD:3/10
Addendum to Offer to Purchase Address Property: _____________________________________________
This Addendum is incorporated into the attached Offer to Purchase (“Offer”). Acceptance of the Buyer’s Offer is conditioned on the Seller’s acceptance of the terms in this Addendum. Ann Atamian ________________________________ , an agent with Gibson Sotheby’s International Realty, (“the Buyer’s Broker”), is acting as the Designated Buyer’s Agent for the below signed Buyer(s), and working with the Buyer(s) subject to a written fee agreement obligating the Buyer to pay a brokerage commission to the Buyer’s Broker in the amount of ____ % of the purchase price.
The Offer is made subject to, and acceptance by the Seller is expressly conditioned upon, the payment of the Broker’s commission as follows: ___ 1. The Listing Broker has agreed to compensate and shall pay the Buyer’s Broker a fee of ____ % of the purchase price or $ _____________ per the Listing Broker’s offer of compensation, and In addition to the offer of compensation from the Listing Broker, as a condition of acceptance of the Offer, the Seller to pay the Broker fee of ____ % of the purchase price or $ _____________at Closing, when the deed is delivered and full consideration is paid. This fee is in addition to the compensation offered by the Listing Broker. X % of the purchase price at Closing, when the ✔ 2. The Seller shall pay the Broker a fee of ___ ___ deed is delivered and full consideration is paid.
Under the terms of this Addendum, the Buyer Broker’s commission shall be paid out of the price agreed upon in the Offer. The Buyer Broker’s commission shall be paid out of the proceeds of the sale and will be shown as a deduction from the Seller’s proceeds on the Settlement Statement. The Seller acknowledges that there is no legal duty to pay commissions to a Buyer’s Broker and that commissions are not set by law. The Buyer has opted to write the Offer price and structure this transaction so that the commission due to the Buyer’s Broker is paid out of the proceeds of the sales rather than being paid by the Buyer, over and above the price agreed. The payment of the commission at closing will satisfy the Buyer’s contractual obligations to the Buyer’s Broker. To the degree it may be interpreted that the Seller is paying the commission, the payment does not create an agency relationship between the Seller and the Buyer’s Broker and the Buyer’s Broker is working for and in the best interest of the Buyer.
______________________________ Buyer Your Name
______________________________ Seller
______________________________ Buyer Significate other if applies
______________________________ Seller
© Gibson Sotheby’s International Realty
June 2024
! " # $ % # &' ( ) *) + , -. $( / *0($+ 0 1- $ $
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
( , 0C>D& E:F8:0C& .3 D:8F& .3 /8:80
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
(3 (! + '$ ! ! $$5 ,( '$5 '(! $5 )(' ( " ($ '$ ( !$" & -!" $ ' ,#!$ "( . 5( 3 ' " -( 5 (# ) + " %(, ! " - -5 - #( -' " 3 $ '$ !$" % ( $'. ' ($ (! ' + %'" $ ) ' " 6 , 5 - (, 7)( "( $ (!$ )(" "' $$5 . $() $ )(' ( ' + " (!+ (, (. "'( 3 ( " $ )(' ( ' + ' !$" ' ! -5 %( *> $ " 7)( ! ( (, (. "'( 3 . (--5 !))$' & ! " ' +$ & -!$$ " #' ' + ' * & 7)( ) ()$ "( $ 3 )(' ( ' + ' !$" ! '+ -$(( ) ! & ) (-$ , .' + '$ #( -(" , %(, & '+ "'. ) (-$ , & . ' ( & , ,( 5 $( ) (-$ , ( " "' +& ,! $ G(' " ) ' 3 !$" % ( . 5 (# " 5,)"(, % ( . - 7)( "( $ (!$ ( ' - ' + #( $ 3 ( % ( +!$ $5 7)( "( $ " (!+ " ' %( * 4!' -5 $ % "( . " ' -$(( " " ( 5 #( $ 3
D
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
- + (# $ )(' ( ' + % . ) ' " ! # ' ' ( (!" ' " (, ) #( ) ' "' +& ( %(( %( * ' " ')) ( ,(. & ( %' (% ( % $$ ,(. 3 ' ' - ! $ ) ' " ' #(! ' $,( " $$ ! "" (, -!'$" - #( /012& ( , 5 (# ! "" 9 (, ($ 3 ( (" ! )(% & ) () "( ( " +! "( ,(. $ ) ' "& " , " ( " $(" (# $ ! " #!, 3 ,)( '$5 ,(. 5(! # ,'$5 ) ' $$5 '$ ) + " %(, (!" (# " (, % '$ " %( * ' - ' + ( $ !)& ( " ,' ',!,& " ) !) )$ "' " "( (,)$ " $5 $ (## " %( * 3 " $ ' ) "'( ( & ( " " 5(! %'$$ * (% % ' ! # . $ ) ' " 7" % ) ) ' + #( (' + (, ) ' %( *& ! ' + $ !) #" % 3 ( (" ( ) ' ' ($ (, %'" (!" $ ' + -(!" # % 5 "( ( " %( * "( ! " + (# $ ! "3 ! (# (# '$ (( !$" $ )(' ( ' + !$" 5 # (, (>'">5(! $# (, ) (G " 3 #$%& ( ) )
'
#' " " ) ' "( . $ ' ) "'( ( ' * , " ( 3 $' $ ' ) "( %'$$ " " " ! # (# " (, #( $ +'. " (% % '"" )( " " " " " % " ' $ ' ,(! " ( ' .'($ "'( -5 " " $ %& ( 5 $ 6 " " ,! " - ( " 3 ' * ( & % ( ' ) ' $$5 $' $ ' ) "( & %'$$ ( $ ' ) "'( )$! ' * , "& ! ' + % ' ( * " (, #( " ,( " '(! $ 6 " " ,! " - #'7 #( ' " ', ( " ($3 4! "'( -(!" ' " ', ( " ($& - $(%3 $5 $' $ , 5 ( '+ > ' * %( *& ! ,(.' + $ ) ' " ( ) ' ' + '))' + ) $' + $ ) ' "3 '" $ & " (% ( (, ( % ( %( * #( " (% + " ( " ' (" $ ' + ' " ', ( " ($ " * 3 7" 4! "'( 3 (% ( + " ,! " + " ) ' $ " ' ' + "( ) #( , " $ ' + " * " 5 , 5 (3 #" " %( * ' ( & " $ ' ) "( ( ' * ( "! "( * " (, 3 ( , 5 " * ! " ,)$ "( " " #( $ , * ! " (, - ) () $5 $ !)3 # . 5" ' + ' #' & ( +'. " (% "" (# (,)$' ( "" (# " ', ( " ($3 #" + ""' + ( (# " $ "" & " (% ,! " " * ( -$ (# " ) () "5& , ' $5 -5 , *' + ! " ' ( ) $' + $ ) ' "3
F
" * ! "" & " (% ( (, ( % ( %( * #( " (% + " ( " ' $ ' + "'.'"' 3 ' $! (. ' + ! # %'" " ' , " ' $ < ,(.' + " ' -!'$ ' + ) " < ))' + - -( < ' " $$' + .' 5$ ' ' + ( " 7" '( & ))$5' + ) !$ " 3 ) !$ " ) ' $ $'4!' ( "' + , "( - $( +>$ "' + - ' (. $ ) ' "3 A #( 5 (# " $ ' + " * ( & " (% ,! " #' " . $ ' ) "'( ( % ( . ' +(' + "( ( " %( * ,! " + " ) ' $ " ' ' +3 ( " " #( ' #( , "'( -(!" " ' " ' ' +3 '"'( & (% ( " ' + " ) #( , " ! "! $ ) ' $ ! " $ ' + #( ' " ', ( " ($3 A #( (' + " ' %( *& (% + " (!$ + " 9 ' " ', ( " ($ -((*$ "3 * ' " " ' (, " 7 '" (# !) "( ;/&=88 ) ! '" #( #!$$ $ ' +3 '" (# !) "( ;=88 ) ! '" ' . '$ -$ #( ' " ', ( " ($ %( * " " $ ( ( " '-!" "( #!$$ $ ' +3 $ ( + " (>' " "& # $( & ( $(%>' " " $( . '$ -$ "( $'+'-$ ) () "5 (% 3 #! . '$ -$ " (!+ " 3 3 ) ", " (# (! ' + - . $(), "& " ! "" 7 !"'. ##' (# (,,! '"' . $(), "& " ! "" (! ' + ' !" ( '"5& $( $ '"5 "(% (,,! '"5 . $(), " )$ ' + ) ", " & - * 3 + ' ' 5 (, (% . #(! " " " - #'" (# $ ' + (" ! $'* " - #'" (# (" (, ',) (. , " ) (G " 3 )$ , " %' (% (( . " (, (% ,( 5 - ! " 5 ,( +5 ##' ' "3 .' + $ + $$5 $ (, & % " '" ' ' +$ ># ,'$5 ( ,!$"'> # ,'$5& (% >( !)' ( " $ ! '"& , * '" ' "( $$ ( "& (#" " - "" ) ' 3
( ) )
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
C
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
( ) )
% ))$' ( $5 "( (, -!'$" - #( /012 ' % ' '$ ! '7 $'. 3 5 (, ( ) ", " .' + # % " D=8 4! # " (# $'.' + ) & ( % ' ' ' ((,' + (! & ' 7 ,)"& $( + ( '$ ! + '7 ' $'.' + " 3 ' $$5& (, " #( F/ 5 ( $ #( . "'( ( "'( $ )! )( $ ( 7 ,)"& $( + " ' ( '))' + ( ) $' + $ ) ' " ' " (, " " '. " ( "> , "'( " $ ("'#' "'( 3 ) )
B " ' $ %'" ()"'( "( -!5 (, -!'$" - #( /012 ' ## "& " (% (# " ) () "5 ,! " . '" $ ( - (!+ " ! ' " ', ( " ($ '# '$ ! '7 $'. " 3 # " " " %'" ()"'( "( -!5 ! (, ) ( "( )! '"& ( - (, )( '-$ #( , "' + " 4!' , " (# " % '# '$ ! '7 $'. " #" " )! 3
* !
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
=
*
$! ) " (# " ' ("'#' "'( ) * + ' $' "' + (# ) '. " $' $ ' ) "( ( + '6 $) - "' $$5& ) '. " $' ' * ( & ','$ $5 ( + '6 3 * "( " ' ) "( ( ' * ( 9 $' & "( , * ! '" ' ! "3 (! (!$ + #( " ' ) "'( ( ' * , " 4!' *$5 )( '-$ #" ' ' + 5(! % " ( 3 # 5(! ( . ' ) "'( ( ' * , "& 5(! ,! " +'. " $$ ()5 (# " )( "3
- " "', "( $ (, ( - ' + '" ! ' " ', ( " ($ ' % " (, ' . "& ( " " ' " %'$$ (" - 7)( "( $ (! ($ #! ' ' + %'$$ (" - ( " ,' " %'" $ 3 '"'( & '" (#" ' ##' ' "& ! ( " & "( (,-' $ ' + %'" (" ) ' %( * - ' + ( "( . " (, 3
) "
) * "
" " " %& "" (# (,)$' ' $ + $ $ "" " " 5 '" " " " ( $ ) ' " 6 ( " " " (, - $ 3 $ "" ' '+ " -5 $' $ ' ) "( 3 "" (# " ', ( " ($ ' $ + $ $ "" " " 5 %( * 5 "( , * (, " ,)( '$5 # # (, $ 6 - ( 3 " ' '+ " -5 $' ' * ( 3 "" (# " ', ( " ($ ' +(( #( ( 5 & -!" - % #( ( ,( 5 3 (% ,! " #!$$5 $ " (, + " "" (# (,)$' -5 " (# " ( 5 '# '$ ! '7 "'$$ $'. " 3 % ( (" 4!' " ,(. $ (# $$ $ ) ' " # (, (, 3 (% % ( + " "" (# (,)$' ( "" (# " ', ( " ($ ,! " " * ( -$ "( * ) !) " (, & , ' $5 -5 , *' + ! " ' ( '))' + ( ) $' + $ ) ' "3 # (% # '$ "( " * ( -$ " ) "( , ' " ' " (, & ( , 5 - (, $' -$ #( , + "( '$ $ )(' ( !$" (# " (% 9 - (# " " !"5 (# ( -$ 3 ,-. ) /,0/-, 1 *.20,( *0. ' 3 ) ) # ) () "5 (% (# (, -!'$" - #( /012 ' % ' '$ ! '7 $'. # '$ "( $ ( - ' + " (, ! ' " ', ( " ($& '$ ' $ )(' ( !$"& " ) () "5 (% ' " ' "$5 $' -$ #( $$ , + 3 (% ' (" " ' "$5 $' -$ #( $ )(' ( ' + '# "" (# (,)$' ( "" (# " ', ( " ($ ' ' ## "3 " ' " $' -'$'"5 , (% , 5 - $' -$ . '# " 5 ' (" * (% $ ) ' " % ' " (, 3 ' , "( " *' 5 -$(( $$ & $ 5 ' + (%" & $ ' + ' -'$'"' ,("'( $ - .'( $ ' "! - !$"' + # (, $ )(' ( ' + . $'# >$( + ## " & ,( " 5 , + % + ' " (% )( '-$ #( '$ 9 $ )(' ( ' + - !- " "' $3 '$' + "( $ ( - ' + ! ' " ', ( " ($ (, "( % ' " % ))$' ' $ ( , + 5 )!-$' $" , "" & 5 ',' $ ) $"' 3 (% % ( ' ("'#' -5 )!-$' + 5 (# % .'($ "'( ' ) () "5 ( (% & % ( %'$$#!$$5 # '$ "( ( " " + (! ( '"'( & ' $ ( !-G " "( )! '"'. , + & % ' " "', " "! $ , + #(! 3 ) (.' '( ' '"'( "( 5 (" $ + $ '+ " " $ >)(' ( '$ , 5 . 3
E
" * ' ) )
! "" % , * '" '$$ + $ "( #! "( " "( # ,'$' %'" '$ ! '7& ( .' "' + ( #! ' + "( % " $ (# # ,'$' %'" '$ ! '7& - ! (# $ ) ' "3 ' ',' "'( + ' " # ,'$' %'" 5(! + '$ ' $ ( .'($ "'( (# " 3 3 ' (! ' + " " ! "" "'> ' ',' "'( " "!" 3 " (" % '. " '+ " (# " ' '$ "( $'. ' $ > # (! ' + ( + "( !, "( ' * (# $ 7)( ! 3 % % ( .'($ " " $ % # .5 ) $"' 3 ! "" (,,' '( + ' " ' ',' "'( ' . "'+ " ) ( !" (# ' ',' "'( + ' " # ,'$' %'" '$ - ! (# $ ) ' "3 " ' $ ( '$$ + $ #( $ "( 5 #' ' + - ! (, $ ) ' "& ( - ! #' ' + (!$ " '++ #!"! !"' ! " %3 ' ( (" " ' " " '+ " (# $ "( ) ( ( 5 ,( "+ + ))$' "'( ' ( %'" )" ! % '"' + ) "' '" ' 3 * * 4#$%& ! ' ! * ' 3 # " '$ ! '7 $'.' + ' ! ) ", " " ) ", " ( (" . "" (# (,)$' ( "" (# " ', ( " ($& -!5 (!$ #' (!" % " ( (" " ) ", " $ 6 %'$$ . "( - - (!+ " ' "( (,)$' %'" " " " %3 ' ' #( , "'( %'$$ - ',)( " " ' ' ' + % " "( -!5 " ) () "5 " % " ) ' 3 (" -(. & % (% . 08 5 # (, " " (# " *' + "'"$ "( . ! ) ", " $ ( - (!+ " ! ' " ', ( " ($3 #( & " 5 (!$ + $ ' + ( ' " ', ( " ($ %( * "( - +' (( )( '-$ #" " *' + "'"$ & "( - ! " %( * ' ( %'" ' 08 5 3 "
) )
$ $( % ( %'$$ - $ ' + (, ( - ' +' + '" ! ' " ', ( " ($ , 5 $ 5 " " " (# " " 5 !) "( F8 5 3 ' - ( $( + $ - "% " $ $( " % " " ( (" 7' "3 ! ' + " ' $ 5 ) '( & " % " " )( '-$ #( " ' $'.' + 7) 3 # " ' '+ $ & (% . & " $ $( ' )( '-$ #( " ,)( 5 (! ' + ! ' + $( "'( 5 #( $ ' + %( *3 (
" " " %& " " . "( - $( " #( " "', " " " ' $ ' + %( * ' " *' + )$ ' ' " (, 3 5 , 5 (" "! ! "'$ " " %( * ' ( & " (, ' $ !)& $' $ ' ) "( ( ' * ( * #' '" ' #' #( ' " "( ,(. - * ' 3 $ $( " " )( '-$ #( %( *' + (!" )" -$ )$ #( $" "'. (! ' + '# '" ' 53 $ $( , 5 ,(. " " " "( (" )$ "( $'. & % ' , 5 - (" (! & ) ", "& ,(" $ ( (" $3 $ $( ' )( '-$ #( ) 5' + " " "9 ( -$ ,(.' + ( " 5 " ,)( 5 (! ' + ( " (. -(. " " (# " (, - ' + $ 3 ! ' + " "', " (, ' - ' + $ & " " " , ' )( '-$ #( ) 5' + " ( , $ " " 5 %(!$ ) 5 #( " ' ) '( " ' (# " ( " (# " ,)( 5 (! ' +3 % " " " " ,)( 5 (! ' + ,! " (" ! ! ! ( (,' ( ) ( $ ') "( " " "3
1
+( $ (# " # $ " " 4!' , " #( " " ("'#' "'( ' "( $) ! $ )(' ( ' + -5 +'.' + $$ " " (# (, -!'$" - #( /012 ' #( , "'( -(!" $ ' " ' (, 3 ) (+ , $ ( ! " " " $ $( -(!" " + (# $ )(' ( ' +& '" ) . "'( & " ! "" %3 " ("'#' "'( ))$' "( $$ " " & % " ( (" " 5 . '$ ! '7 $'.' + %'" " ,3 A #( "' + (, & $ $( & , +' + + " ( 5 $ " " + " ' .($. ' " " $ ,! " +'. % " " ()' (# 5 7' "' + $ #( , #( " (, 3 ' $! $ ' ) "'( )( " & ' * , " )( " & "" (# (,)$' ( , "" (% ($ ( "" (# " ', ( " ($3 # " $ $( ( + " ( (" . 5 ( $$ (# " #( , #( " (, & ( ',)$5 ( (" +'. " ,3 '"'( & " $ $( ( + " ,! " +'. % " " " " % ("'#' "'( 3 ' #( , $ )(' ( ' +& ) '#' ) . "'( "') #( ) " & " 4!' , " (# " % 7)$ "'( (# " $ #( , 3 "" "( " " % ("'#' "'( ' " " "'#' "'( #( ,3 ' ' "( - #'$$ (!" '+ -5 -(" " " " " $ $( ( + "3 ) "5 + " ()5 "( * )3 ' ' $( ( + " , 5 (( "( ' $! " " % ("'#' "'( : " "'#' "'( #( , ' % '"" $ & ' " (# ! ' + ) " #( ,3 $( + " % ( # '$ "( 5 (!" " ' " " ("'#' "'( (-$'+ "'( $' -$ #( $$ , + ! -5 " ' # '$! "( ( (& !-G " "( #' (# !) "( ;/&8883 *.56, ."- *.20,( *0. ( #$%&
'
% ) ( " !,- (# ! '" " " " ) () "5 (% %' "( ' ! & % " " ) () "5 (% $'. ' " -!'$ ' + #( % ' ' ! ' (!+ "3 (% >( !) " % ( ' ! #(! ( # % ! '" , 5 - (. -5 (, (% ' ! 3 $$5& " ) () "5 (% % ( ' (" (% >( !) " %'$$ "( + " (,, ' $ $' -'$'"5 ' ! & %'$$ (% >( !) " % ( %' "( ' ! ,( " #(! ! '" 3 (, (% ' ! , 5 - . '$ -$ # (, . $ '## " (! H " +!$ & J ,'"" J , * "& " $ ( " J ! )$! $' J , * "3 +!$ & J ,'"" J , * " ' " ! ! $ , * " #( ' ! 3 $ (## (, (% ' ! "( ) () "5 (% ! -$ "( #' (. + ' " +!$ , * "3 J ! )$! $' J , * " ' $ +!$ " & + $$5 ,( 7) '. , * "3 " ) (.' ' ! "( " ( % ( (" #' (. + $ % 3 " " '.' '( (# ! +!$ "'( & '# ' ! ' " +!$ , * " ' "( % '" (, (% ' ! ( " $ (! ' + #( % ' "" (# (,)$' ( "" (# " ', ( " ($ ' ' ## "& " ' ! ,! " ) (.' (. + (# $ ) ' " $' -'$'"5 ' ' + # (, " ( ) ,' 3 . ) ) ! ! 3 # "" (# (,)$' ( "" (# " ', ( " ($ ' ' ## " #( ( $5 ) " (# ) () "5& " (. + #( $ $' -'$'"5 %'$$ 7" "( ( $5 " " ) " (# " ) () "53 ! ' ! %'$$ $ ( ))$5 "( 5 (,,( (. -5 " "" (# (,)$' ( "" (# " ', ( " ($3 " %'$$ ("& (% . & 7" "( ' G! ' !$"' + # (, + ( ( %'$$#!$ +$'+ 3 $ 9 (. + (# $ $' -'$'"5 ' !-G " "( " , +!$ "'( " " ))$5 "( " +!$ , * "3
2
' ! ' " +!$ , * "& ( " $ & , 5 * " ) () "5 (% "( ) (. " " " ' "" (# (,)$' ( "" (# " ', ( " ($ #( " (, (!+ " "( - ' ! 3 " ) ((# ' ) (.' & (. + #( $ $' -'$'"5 %'$$ ))$5 (# " " (# " "" 3 # " ' $ " ,' " " +'. ) () "5 ' $'+'-$ #( ' ! & ( '# +!$ , * " ' ! $ " "( ' ! " ' ) ,' & '" , 5 7 $! $ $' -'$'"5 (. + ( 5 ) " (# " ) () "5 '" ! "( % ' ( "" (# (,)$' ( "" (# " ', ( " ($ ))$' 3 # '" " ' $ ( +!$ , * " ' ! ! ! 7 $! '( & '" ,! " (## " (% (# " ) ,' " "( -!5 - * " 7 $! (. + 3 ' '"'( $ + #( " $ $' -'$'"5 J-!5- *J (. + 3 ,(! " (# " ' + ' +!$ " -5 " '.' '( (# ! 3 " ! )$! $' , * "& " ' ( 4!' , " "( (. $ $' -'$'"5 ' ' + # (, ) ,' "( % ' "" (# (,)$' ( "" (# " ', ( " ($ ))$' 3 ! )$! $' ' ! + $$5 7 $! (. + (# $ $' -'$'"5& ( (" (## " -!5- * (. + & + '+ ) ' " " +!$ , * "3 ' " $ ( (" ) (.' (,, ' $ $' -'$'"5 ' ! & ) () "5 (% % ( "( + " ! (. + ())( "( (, (% ' ! ,! " + " '" # (, '" " +!$ , * " ( " ! )$! $' , * "3 (,, ' $ $' -'$'"5 ' ! # (, " ! )$! $' , * "& $'* (, (% ' ! # (, " " , * "& ! ! $$5 %'$$ 7 $! (. + (# $ $' -'$'"5& %'$$ (" ' $! " -!5- * ()"'( & %'$$ ( " ,( " +!$ , * " (. + 3 B '$ +!$ , * " ' ! $' "( % '" (,, ' $ $' -'$'"5 ' ! ( +'. ) () "5& ( ! ' ! ' "( % '" ! (. + & '" ,! " " ' ! $ $' -'$'"5 ' ' + # (, 5 ) " (# " ) () "5 (. -5 "" (# (,)$' ( "" (# " ', ( " ($3 # ! ' ! (( "( ' ! ) () "5& '" , 5 7 $! (. + (# $ $' -'$'"5 ( 5 ) " (# " ) ,' #( % ' ( "" (# (,)$' ( "" (# " ', ( " ($ ' ' ## "3 # ! ' ! ))$' ! 7 $! '( & '" ,! " (## " ) () "5 (% " ())( "! '"5 "( -!5 - * " 7 $! (. + 3 $ $' -'$'"5 ' ! +!$ "'( '- -(. ))$' -$ "( +!$ , * " (, (% ' ! $ ( ))$5 "( (,, ' $ $' -'$'"5 ' ! # (, " +!$ , * "3 % (# " $ (! ' + (!$ " 5 "( + " (. + #( $ $' -'$'"5& % " " 5 . , " " 4!' , " (# " % ( ("& -5 *' + +!$ , * " (. + " (!+ ' ! + " & ( -5 ( " "' + ' " % '"' + (,) ' " " $' " ' " " $ ) ( ' "( 5& - #( ( "' + '" "( " $ ( " ! )$! $' , * "3 * *
4 !
'
" " " $ $' -'$'"5 ' ! +!$ "'( & (. + (# $ $' -'$'"5 (" - 7 $! # (, +!$ , * " $ (, (% ' ! )($' ' ( ' +$ ># ,'$5 (% >( !)' (, 3 " & $ $' -'$'"5 (. + ' ' $! ' ! )($' ' 3 (% . & # ,'$5 , ,- (. -5 (, (% )($' 5 (" , * $ $' -'$'"5 $ ', + ' " (" # ,'$5 , ,- (. -5 " , )($' 53 4!' , " (# " $ $' -'$'"5 ' ! +!$ "'( ( (" ))$5 "( (, (% (. + # (, " ! )$! $' , * "3
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
#" " " *' + (# "'"$ 3 " $ "" & " (. + (# $ $' -'$'"5 %'$$ 7" - * "( " "', " " " $' -'$'"5 ' ! $ -5 " % (% #' " % " ' "( ## " ( " ) ,' 3 !$ #( % (% $ $' -'$'"5 ' ! (. + #( " $ ' " , #( " +!$ , * "3 ) ' $ !$ #( $ $' -'$'"5 ' ! #( % (% ( (" ))$5 "( ' ! # (, " ! )$! $' , * "3 ::::::::: "9 !) "( 5(!3 " " ' )(' "& 5(! (!$ - % $$ ' #( , -(!" $ )(' ( ' +& " ## " (# $ 6 ' " (, & 5(! )( '-'$'"' ! " ! "" %3 " ) "& " ) ", " (# !-$' $" "( .(" '" '$ (( $ )(' ( ' + (! "( ) (.' .' "( " " (! (# ! "" '$ % ( % )(' ( & % $$ "( ) (.' ' + .' "( '$ % ( -$(( $ $ . $ $ . " & "( ) . " " , # (, - (,' + $ )(' ( 3 A "% " ) ", "9 %( * " ) . "'. $ ' + ' (!" -5 ) () "5 (% & % . - ! #!$ " ! ' + " !,- (# $ )(' ( ' + ,( + 5(! + '$ ' ! "" 3 $$ (# ! " " ) ", " () #!$ " " % %'$$ ( "' ! " " ) " ')& ' % ' " ( "'( (# $ 6 ' " (, (# 5(! + '$ " ( '$ $ )(' ( ' ( ',)( " "3
*
! "" ) ", " (# !-$' $" '$ (( (' ( ' + . "'( (+ , ( ,( ()' (# " ' #( ,& #!$$ + (# ' #( , "'( ( (% 9 " " 9 '+ " )( '-'$'"' ! " " " %& #' ' $ $) #( (% & # (. "'( %( *& ('$ " "' + %%%3, 3+(.: ) : $))) 12/ >11C>EE//& />288>=FD>0=1/
! "" ) ", " (# -( : '.' '( (# !) "'( $ # "5 ' " (# $' $ %%%3, 3+(.: ( E/1 >EDE>E0ED
3 3 .' ( , " $ (" "'( + 5 +'( / % +$ #( , "'( -(!" # $ $ % ( $ "")H::%%%3 ) 3+(.: +'( / E/1 >0/2>/=DC "'( $ #( , "'( " $ )(' ( ' + ' #( , "'( ( $ ' ( !, ) ( ! " %%%3 ) 3+(.:$ ( / >288>CDC> 3 3 ( !, ( ! " # "5 (,,' '( #( -(!" $ ' ( !, ) ( ! " %%%3 ) 3+(. ( />288>EF2>D11D
! "" (! ' + ' + 5 " " !" $( ) (+ , ' #( , "'( %%%3, (! ' +3 (, E/1 >2=C>/888
/8
/,0/-, 1 , .52-, .0 *2*" *0. "-, *2*" *0.
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
5 3 + (# $ >- ) ' " :( $ >- ) ' " 6 * ' ( '' - $(% H ' ? (% $ >- ) ' " :( $ >- ) ' " 6 ) " ' " (! ' + 7)$ ' 3 '' $$ ( * (%$ + (# $ >- ) ' " :( $ >- ) ' " 6 ' " (! ' +3 - ( )( " . '$ -$ "( " $$ * ' ( '' - $(% H ' $$ ) (.' " )! %'" $$ . '$ -$ ( )( " ) " ' ' + "( $ >- ) ' " :( $ >- ) ' " 6 ' " (! ' + * ( !, " - $(% 3 ) "'( )( "< ' * , " )( "< "" (# " ', ( " ($< "" (# (,)$' '' $$ ( )( " ( ( ) " ' ' + "( $ >- ) ' " :( $ >- ) ' " 6 ' " (! ' +3 / 3 ) / 3 8 9 (c) ! ( $ )! '. ()' (# $$ ( !, " checked -(. 3 (d) ! ( $ )! '. ( ( !, " 3 (e) ! ( $ )! '. " () "5 # ' " ("'#' "'( 3 (f) ! ( $ )! * ' ( '' - $(% H (i) '. /8> 5 ())( "! '"5 ( ,!"! $$5 + !)( ) '( "( ( ! " ' * , " ( ' ) "'( #( " ) (# $ >- ) ' " :( $ >- ) ' " 6 < ( (ii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
"
$$
"
!
"
!
"
+ "
"
+ "
"
(# () "5 ;7 % .1-,# 0/, /.1# 8 9 ./
//
Home Inspectors Consumer Fact Sheet About Home Inspections A standard home inspection is a visual examination of the physical structure and major interior systems of a residential building consisting of one to four dwelling units. It should be understood that there are certain risks inherent in the purchase of property and a home inspection is inherently limited in its scope and depth. The information gained from home inspection conforming to 266 CMR 6.00 may reduce some of those risks, but the home inspection is not intended to provide the client with protection from all of the risks involved. An inspection can be likened to a physical exam by a physician; however, it should be clearly understood that a home inspection is not to be confused with an appraisal, a building code inspection, a guarantee of any kind, and/or an insurance policy on the condition of the property. During an inspection, the inspector will review the readily accessible exposed portions of the structure of the home, including the roof, the attic, walls, ceilings, floors, windows, doors, basement, and foundation as well as the heating/air conditioning systems, interior plumbing and electrical systems for potential problems. Home inspections are not intended to point out every small problem or any invisible or latent defect in a home. Most minor or cosmetic flaws, for example, should be apparent to the buyer without the aid of a professional.
Timing of the Home Inspection A home inspector is typically hired by a potential homebuyer right after the offer to purchase contract is signed, prior to executing the final purchase and sales agreement. However, before the potential buyer signs the offer to purchase contract, he/she should be sure that there is an inspection clause in the contract making the purchase obligation contingent upon the findings of a professional home inspection. This clause should specify the terms to which both the buyer and seller are obligated.
Selecting a Home Inspector Good referral sources for home inspection services are friends, neighbors, or business acquaintances who have been satisfied with a home inspector. In addition, lawyers and mortgage brokers may also recommend a home inspector. The names of local inspectors can be found by entering the words home inspection and the zip code of the community where you are purchasing the dwelling and/or searching the Division of Professional Licensure website
at www.mass.gov/dpl/ or in the Yellow Pages where many advertise under "Building Inspection Service" or "Home Inspection Service." Real estate brokers and salesmen may not directly recommend a specific home inspection company or home inspector unless representing the buyer as a buyer's broker. Brokers, however, may provide assistance to buyers in accessing information on licensed home inspectors. A current homeowner may also want to get a home inspection to identify any problems, especially if the owner plans to sell the home in the near future. Following are additional tips when searching for a home inspector:
As of May 2001, home inspectors are required to be licensed in the Commonwealth of Massachusetts. A home inspector's license should be verified prior to hiring. Consumers should not be confused by home inspector "certifications" offered by, or sold by home inspection trade societies or companies, obtained via home study courses, or provided by home inspection companies that certify their own home inspectors. Since the home inspection business is unregulated in most states, certifications are available to anyone. A home inspector's license can be verified with the Board of Registration of Home Inspectors at its website or by calling the Board at (617) 727- 4459.
The home inspection company that is retained should welcome the potential buyer's presence at the home inspection. The home inspector should be willing to address all of the buyer's questions and provide a full verbal and written report. Those hiring an inspector should expect an open door policy from the home inspection company to be able to ask questions about the content of the home inspection report in the future.
During the Home Inspection While not necessary, it is recommended that the buyer be present for the inspection. This allows the buyer to observe the inspector, ask questions directly, and obtain a better understanding of the condition of the home, how its systems work, and how to maintain it. The written report may be easier to understand if the buyer was present during the inspection. It is important that you provide safe access and sufficient lighting so that the inspector can inspect the property. Inspectors must provide a written evaluation report based on the standards of compliance in accordance with CMR 266.6.00
At the conclusion of the home inspection, the buyer should be well informed of the condition of the home. It should be known if there are visible, apparent problems, if repairs need are required, or whether or not there are any risks of concealed damage, and whether further investigation is recommended and/or required.
Other Inspections and Tests to Consider It is strongly recommended that potential buyers consider having the following inspections and/or tests performed prior to signing the final purchase agreement:
Lead paint, http://www.mass.gov/eohhs/gov/departments/dph/programs/environmental-health/exposuretopics/lead/delead/
Water quality ( is it drinkable)
Wood destroying insects, including termites.
Air quality, including radon gases.
Fungi, mold and allergens. While some home inspectors are qualified to offer these services, these inspections and tests are not part of the basic home inspection and should be contracted through qualified licensed professionals (of your choice and hire) in those fields.
Filing a Complaint While most licensees conduct themselves as true professionals, the Division of Professional Licensure will take action against those licensees who fail to maintain acceptable standards of competence and integrity. In some cases, dissatisfied consumers make complaints, however, dissatisfaction alone is not proof of incompetence or sufficient grounds for disciplinary action. If you have a serious complaint about a home inspector, call or write the Divisions' Office of Investigations and ask for a complaint form. The Division's Office of Investigations is located at 1000 Washington Street, Suite 710, Boston, MA 02118. The phone number is 617-727-7406. A copy of the complaint form from the Division's website ( www.mass.gov/dpl/ ).
can also be downloaded
MASSACHUSETTS MANDATORY RESIDENTIAL HOME INSPECTION DISCLOSURE Pursuant to Massachusetts regulation 760 CMR 74.00 Residential Home Inspection Waivers, this form must be signed by the buyer and seller prior to signing the first written contract to purchase a Residential Property in Massachusetts (unless one of the exceptions under 760 CMR 74.00 applies). Residential Property and Home Inspection shall be defined pursuant to 760 CMR 74.02. Limitations on Home Inspection Waivers: Every seller of Residential Property is notified that M.G.L. c. 143, § 101 and 760 CMR 74.00 prohibit a seller from accepting an agreement to purchase contingent upon waiver, limitation, or restriction of buyer’s choice to obtain a Home Inspection, in whole or in part (unless one of the exceptions under 760 CMR 74.00 applies). A buyer of a Residential Property may choose to have the premises inspected by a licensed home inspector of the buyer’s choice. If the buyer chooses to have a Home Inspection, the buyer shall have a reasonable period of time after the full execution of the first written contract, as agreed to by the seller and the buyer, to decide whether to proceed with the transaction if the results of the inspection are not satisfactory to the buyer. Seller's Disclosure Pursuant to 760 CMR 74.00, Seller warrants and represents that the agreement to purchase is not, and in no event shall be, contingent upon waiver, limitation, or restriction of Buyer’s choice to obtain a Home Inspection, in whole or in part (unless one of the exceptions under 760 CMR 74.00 applies). Seller agrees and acknowledges that Buyer may choose to have the premises inspected by a licensed home inspector of the Buyer’s choice. The Seller further agrees, warrants, and represents that, if the Buyer chooses to have a Home Inspection, the Buyer shall have a reasonable period of time after the full execution of the first written contract as agreed to by the Seller and the Buyer, to decide whether to proceed with the transaction if the results of the inspection are not satisfactory to the Buyer. Buyer's Acknowledgment Each buyer hereby acknowledges that they may choose to have the premises inspected by a licensed home inspector of the buyer’s choice and acknowledges that this disclosure has been provided to the buyer herein. Agent's Acknowledgment Seller’s agent hereby acknowledges that each seller has been informed of the seller’s obligations under 760 CMR 74.00 and further acknowledges that this disclosure has been provided to each seller and buyer herein. Certification of Accuracy The following parties have reviewed the information above and certify that the information they have provided is true and accurate. Property Address:
Signature of Seller
Print Name of Seller
Date
Signature of Seller
Print Name of Seller
Date
Signature of Buyer
Print Name of Buyer
Date
Signature of Buyer
Print Name of Buyer
Date
Signature of Seller’s Agent*
Print Name of Seller’s Agent*
Date
*Seller acknowledges that a Seller Agent was not involved in this transaction.
Created by Metrowest Marketing with SkySlope® Forms
60 CMR 74.00: Residential Home Inspection Waivers 74.04 Exemptions (1) The limitations under 760 CMR 74.03 shall not apply if the Prospective Purchaser is any of the following: (a) A Relative of the Seller; or (b) The former spouse of the Seller and the sale of the Residential Property is being made pursuant to a judgment or order under M.G.L. c. 208; or (2) The limitations under 760 CMR 74.03 shall not apply to any of the following sales or Transfers of Ownership: (a) A sale or Transfer of Ownership where the offer to purchase or a Purchase and Sale Agreement, whichever occurs first, was executed on or before October 15, 2025; (b) A sale or Transfer of Ownership involving the foreclosure of a mortgage; (c) A sale or Transfer of Ownership involving a deed-in-lieu of foreclosure; (d) Deeds reconveying a property in order to release a debt, lien or other security obligation; or (e) Where the Seller transfers the Residential Property to a Relative for estate planning purposes, including but not limited to, through a revocable or irrevocable trust, where at least one of the designated beneficiaries is a Relative of the Seller. (f) A sale or Transfer of Ownership of a Newly Constructed Residential Property where the first written contract to purchase is executed prior to the Substantial Completion of construction and the Seller offers the Prospective Purchaser an express written warranty for a term of at least one year that construction will be completed in a good and workmanlike manner in accordance with all applicable building laws and regulations and that the components of the Residential Property will function properly, including, at a minimum, heating, cooling, plumbing and electrical systems, structural components, foundation, roof, masonry structure, exterior and interior components and any other related residential housing components.