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Consumers Benefit from Major Home Inspection Legislation
by Randall Pence
Content edited to summarize
The Wall Street Reform and Consumer Protection Act adds home inspection to the U.S. Housing and Urban Development (HUD) agency's housing counseling program in a big way. HUD will do the following:
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Actively advise homebuyers across the country to obtain home inspections as a key element of buying a house.
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Tell buyers that obtaining a home inspection is a decision they need to make and should make.
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Tell buyers what professional characteristics to look for in a home inspector and where and how to find one.
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Ensure that homebuyers reached by the HUD counseling programs consider obtaining a home inspection as early as possible in the process, when home inspections have the greatest utility to homebuyers.
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Develop new documents and training materials both for training HUD counselors and for distribution to the buyers they counsel.
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Make all of these messages available to all homebuyers regardless of whether they finance using government-backed programs or private-sector lending.
This national de facto marketing effort will be conducted under the authority, funding and staffing resources of HUD. The American Society of Home Inspectors (ASHI) has helped HUD draft some of the key documents that will be used, the "For Your Protection, Get a Home Inspection" document and the "Ten Questions to Ask Your Home Inspector" document that prompts homebuyers to consider the quality, professionalism, ethics and experience of a home inspector.
Purpose of the legislation
Previous research conducted by the Government Accountability Office (GAO) demonstrated conclusively there are numerous reasons why homebuyers do not obtain home inspections, many of which are unrelated to cost. The reasons include confusion, lack of adequate information about the benefits of a home inspection, poor timing, simple lack of awareness and failure to attend to details, not knowing when a home inspection should be obtained and more.
ASHI developed a compelling, comprehensive argument that it is in the national interest and consumer's interest for the federal government to help. ASHI associated home inspection with consumer protection, a winning strategy in the current environment.
Further, ASHI proposed HUD apply resources specifically to home inspection counseling on a nationwide basis.
ASHI was successful in convincing key members of Congress at the heart of housing legislation that the legislation was substantive and would help homebuyers make better home buying decisions.
To schedule your inspection, or for information about Home Inspections,
call (717) 583-2914 today
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