SENATE MEMORIAL 2

50th legislature - STATE OF NEW MEXICO - first session, 2011

INTRODUCED BY

Tim Eichenberg

A MEMORIAL

REQUESTING A STUDY, REPORT AND RECOMMENDATIONS REGARDING STATE LICENSING OF HOME INSPECTORS.

     WHEREAS, home inspection is an important part of a residential real estate transaction and provides consumers with a description of the condition of the house being purchased; and

     WHEREAS, New Mexico is one of only sixteen states in the United States that does not license home inspectors; and

     WHEREAS, there are no minimum training, experience or continuing education requirements for a person to engage in the business of home inspection; and

     WHEREAS, the New Mexico real estate commission receives a large number of property condition complaints annually, and often the complaints become a source of costly litigation; and

     WHEREAS, consumers deserve the same degree of protection for home inspection issues that exists for virtually all other aspects of a residential real estate transaction; and

     WHEREAS, the regulation and licensing department, the New Mexico real estate commission and the REALTORS association of New Mexico have engaged in informal discussions regarding the need and proper enforcement mechanism for state licensing of home inspectors; and

     WHEREAS, these organizations agree that further study is necessary before legislation relating to licensing of home inspectors is introduced in order to ensure that the chosen approach is cost-effective and does not impose undue regulatory burdens on consumers and professionals; and

     WHEREAS, the senate would be well served by having these organizations study legislation relating to licensing of home inspectors;

     NOW, THEREFORE, BE IT RESOLVED BY THE SENATE OF THE STATE OF NEW MEXICO that representatives from the regulation and licensing department, the New Mexico real estate commission and the REALTORS association of New Mexico be requested to form a working group to study legislation providing for home inspector licensing; and

     BE IT FURTHER RESOLVED that the working group present its findings and recommendations for proposed legislation to the interim legislative Mortgage Finance Authority Act oversight committee by no later than November 15, 2011; and

     BE IT FURTHER RESOLVED that copies of this memorial be transmitted to the regulation and licensing department, the New Mexico real estate commission and the REALTORS association of New Mexico.

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