An Act establishing a first-time home buyers bill of rights

HD 1763 requires real estate agents, brokers, and mortgage brokers in Massachusetts to provide first-time homebuyers with a standardized homebuyers' guide developed by the Massachusetts Housing Finance Agency (MHFA) before key steps in the home purchase process. The guide must cover essential topics like home inspections, lead paint disclosure, environmental regulations, mortgage terms, and the roles of agents, attorneys, and associations. Real estate professionals and mortgage brokers who fail to provide the guide face fines of up to $100 per violation. The bill directly affects first-time homebuyers and the real estate/mortgage industry by mandating this information to help buyers make informed decisions. The MHFA must create and publish the guide online, including specific resources about home buying processes and legal disclosures.