Warwick, R.I. – May 28, 2024 – (See June 13 update below.) A controversial bill will be voted on by the R.I. House Corporations Committee on Wednesday which would create more costs to homebuyers and delay closings, adding to the state’s housing woes, cautioned the Rhode Island Association of Realtors. Rhode Island’s prospective homebuyers have a limited ten-day period to have a home inspected by a licensed home inspector after signing a purchase and sale agreement to negotiate findings, unless granted an extension by the seller. Home inspectors are trained and required to examine the home’s electrical system for any deficiencies and advise follow-up service by a licensed electrician if warranted. House bill 7015 would mandate that a licensed electrician also conduct their own inspection during the 10-day window, making Rhode Island a national outlier. There is no other state in the country that requires multiple inspections during the homebuying process.
Rhode Island, like the rest of the U.S., faces a shortage of licensed electricians. The R.I. Association of Realtors is concerned that the lack of electrician availability will drive up the cost of inspections, while not allowing a homebuyer to inspect the property within the permitted ten-day inspection window.
“We all know that Rhode Island is dealing with a significant housing crisis and prices are skyrocketing. Adding one more unnecessary barrier to those who are trying to buy a home doesn’t make sense, particularly now. And, adding another inspection to any already limited inspection timeline could cause buyers to waive inspections altogether, causing safety issues and possibly even increased insurance rates,” said Sally Hersey, president of the Rhode Island Association of Realtors.
For decades, home buyers and sellers have relied on timely inspections and the professionalism of home inspectors to make the real estate transaction process a seamless one. The Association is concerned that passage of this bill could open the floodgates and require other inspections during the homebuying process, in areas such as plumbing or HVAC.
“The entire country is dealing with a shortage of people in the trades. Most people who have tried to hire an electrician recently have experienced the frustration of trying to get someone quickly. This is not the time to add more hurdles for homebuyers who are already struggling with a difficult market. We’re calling on House Speaker Joe Shekarchi to publicly oppose H 7015 and asking the public to do the same. This is a case of, if it’s not broken, don’t fix it,” said Susan Martins-Phipps, chair of the R.I. Association of Realtors Government Affairs Committee.
June 13, 2024 UPDATE: Despite strong advocacy on the part of RI REALTORS which included coverage by multiple media outlets, this bill and corresponding Senate bill -2021 was approved by the General Assembly the week of June 9th. The legislation is awaiting the Governor's signature. The Rhode Island Association of REALTORS has submitted a letter to Governor McKee asking that he veto the bills.