Bill > SB2418

This bill amends Mississippi law to provide new protections for buyers of new residential construction and condominium units by ensuring their right to have a home inspection before finalizing a sale. Specifically, the bill allows prospective purchasers to have a licensed home inspector examine a new construction property up to 14 days (or longer if mutually agreed in writing) before closing. The legislation prohibits sellers from conditioning the acceptance of a purchase offer on the buyer waiving their inspection rights. Each purchase offer must now include explicit language explaining the buyer's right to an inspection, which will be at the purchaser's expense. If the inspection reveals unsatisfactory conditions, the buyer can terminate the purchase agreement in writing by 5:00 p.m. on the fourteenth day prior to closing, with all deposited money being returned. The bill also clarifies that while buyers have this inspection right, they are not mandated to conduct an inspection, and if no inspection occurs, the right expires. The provisions aim to protect consumers by ensuring transparency and giving them an opportunity to thoroughly assess the condition of a new construction property before completing the purchase. The law is set to take effect on July 1, 2025.

Business and Industry

https://billstatus.ls.state.ms.us/2025/pdf/history/SB/SB2418.xml