Text: HF02195 Text: HF02197 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. NEW SECTION. 558A.1A INSPECTION OF 1 2 RESIDENTIAL REAL PROPERTY. 1 3 1. A qualified person shall conduct an inspection of any 1 4 real property used as a residential dwelling prior to the sale 1 5 of the property. 1 6 2. The inspection report shall be given as part of the 1 7 written disclosure statement required under this chapter. 1 8 3. The inspection report shall: 1 9 a. Assess the general condition of the property including, 1 10 but not limited to, the exterior siding, windows, roof, 1 11 wiring, plumbing, and heating and cooling systems. 1 12 b. Indicate any repair costing one thousand dollars or 1 13 more that is likely to be needed within the next twelve 1 14 months. 1 15 4. An inspection performed on behalf of and to the 1 16 satisfaction of a mortgage lender shall satisfy the inspection 1 17 requirement of this section. 1 18 5. The commission may adopt rules and create forms related 1 19 to the inspection requirement under this section. 1 20 EXPLANATION 1 21 This bill amends Code chapter 558A relating to disclosures 1 22 made in conjunction with real estate transfers. 1 23 The bill adds an inspection requirement in conjunction with 1 24 the proposed transfer of residential real property and states 1 25 that the report must assess the general condition of the 1 26 property and identify any repair costing $1,000 or more that 1 27 is likely to be needed in the next 12 months. 1 28 The inspection report becomes part of the written 1 29 disclosure statement required under Code chapter 558A. Code 1 30 section 558A.2 requires that the disclosure statement must be 1 31 delivered prior to either the transferor making a written 1 32 offer for the transfer of the real property or accepting a 1 33 written offer for the transfer of the real property. 1 34 An inspection made on behalf of and to the satisfaction of 1 35 a mortgage lender shall satisfy the inspection requirement. 2 1 The bill also authorizes the real estate commission to 2 2 adopt rules and create forms in relation to the inspection 2 3 requirement. 2 4 LSB 6043HH 78 2 5 jj/cls/14
Text: HF02195 Text: HF02197 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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