In the UK they have moved this way, but inspections are undertaken by qualified Surveyors whose reputation is not worth the fee for a shonky report, my parents went through this 3 years ago before the housing crash and also had to purchase Sales Insurnace to idenemify purchasers from suffering financial loss, due to shonky buildings and reports, its not perfect but better than we have.
If they make it law, Vendor reports it should be Federal law with tough guidelines on the inspectors, which will mean of course an increase in the fee charged. The bullcrap of OH&S that inspectors hide behind is worse than there 30 page of waivers.
When I bought my project home, the vendors agents handed me a pest and building inspection report on my 2nd visit; well he truly @@@@ed up there... it made me suspicious! The reports made little mention of the buildings many flaws; it said that there was minor termite damage to the outside staircase and deck..erm a quick phone to call to the 3 registered pest sprayers found that the house was well known for termites. Long story short I got a seperate report done and it concluded what I had suspected that without ripping plasterboard off, there was evidence of previous major termite acitivity. His report also had 30 pages effing disclaimers.
I still bought it but for major discount off the value. So without regulations a lot of people will get burnt with vendors reports and legal disclamers by inspectors.
Ps My favourite waiver (from my Gold Licenced Builder and Registered Pest Inspector in one) was in each report he put "I cannot testifity the condition due to not being a builder" in the pest inspection and in the building report "I cannot testifity the condition due to not being a Pest Inspector" WHAT!
I should sue for just having too read gibberish!![]()