Sen. Larry E. Haines, R-Carroll, Baltimore, told the Senate JudicialProceedings Committee yesterday that Realtors and individuals selling their homes should be required by law to disclose certain conditions of the property for sale.
The bill would establish a form for the disclosure statement, which would include a checklist of factors, such as water supply or roof conditions, that could influence a prospective purchaser's decision. It also provides the purchaser the right to rescind a sale contract under certain conditions.
The bill would apply only to residential properties of between one and four units and would not apply to the initial sale of residential property. It would help protect home sellers, purchasers and real estate agents, Haines said.
"Since a home purchase is the largest single investment that most people make in a lifetime, it is important that all relevant information regarding the home's condition be provided to prospective purchasers," said Haines, who owns Haines Realtyin Westminster.
The old business philosophy of "let the buyer beware" has been eroded by court rulings and no longer is the standard in the real estate industry, said Haines.
HAINES AGAINST HELMETS
ANNAPOLIS -- Sen. Larry E. Haines, R-Carroll, Baltimore, said he plans to vote against legislation mandating that motorcycle riders wear helmets.
Two bills concerning the issue are scheduled for a vote today in the Senate Judicial Proceedings Committee, of which Haines is a member.
Attempts to require motorcyclists to wear helmets have been defeated for the past decade. But this year, the House passed the bill, which has the governor's support.
Proponents argue that without the law, the state could lose federal transportation money under a new law earmarking aid for states with safety programs.
They also emphasize, as they have in years past, that taxpayers pay millions in hospital and treatment costs for uninsured motorcyclists injured while not wearing a helmet.
Haines contends the administration "has not demonstrated a need for the bill based on factual statistical data.
He says the bill represents another exampleof the increase of "government claims on individual freedom and private property rights."