Senate File 460 establishes new regulations for home inspections in Iowa, specifically outlining who is authorized to issue independent home inspection reports. The bill stipulates that only licensed home inspectors, architects, or professional engineers can issue these reports. It also mandates that home inspectors conduct inspections with a reasonable degree of care based on national standards and ethics. The bill prohibits home inspectors from performing repairs on properties they have inspected within the past twelve months, inspecting properties in which they have a financial interest without disclosure, and accepting contingent fees based on the inspection report's conclusions. Violations of these provisions can result in penalties, including refunds for unauthorized repairs.

Additionally, the bill requires that independent home inspection reports be written and include specific information, such as the scope of the inspection and any material defects found. It emphasizes that home inspectors must maintain liability insurance and cannot limit their liability for gross negligence or willful misconduct. The bill also defines key terms related to home inspections and establishes penalties for non-compliance, including misdemeanors for failing to maintain insurance or misrepresenting qualifications. Overall, Senate File 460 aims to enhance the integrity and accountability of home inspection practices in Iowa.

Statutes affected:
Introduced: 558A.4