Establishes the right to inspection of residential real properties

This bill establishes a legal right for homebuyers to inspect residential properties, including houses, condos, and co-ops, before finalizing a purchase. It requires sellers to allow a 10-day inspection window (extendable by written agreement) by a licensed inspector, and prohibits sellers from conditioning offers on buyers waiving this right - except for family sales or auction purchases. All purchase offers must include mandatory language informing buyers of this inspection right and their option to withdraw if major defects are found. Sellers who violate these rules face penalties, including fines up to 4% of the sale price or $10,000.