Sisters OR Real Estate

The following information is from an internal communications bulletin from the National Association of REALTORS:

Washington, D.C. (April 29, 2010) – Two e-mail chains have circulated among members and are generating a lot of confusion in the Realtor®  ranks.  One claims that pending legislation in the Senate would require an energy license or retrofit for home sales, the other that the recently passed health care bill contains a 4.0 percent “transfer tax” on homes sales. Both are wrong.

Here’s the real skinny on both.  And PLEASE pass on to your members as quickly as possible:

“Homeowners—Listen Up” e-mail:

This e-mail is inaccurate. There is no requirement in H.R. 2454, The American Clean Energy & Security Act, that home sellers obtain either a license or energy audit or make energy retrofits before they can sell their home. The legislation, earlier passed by the House, is pending in the Senate.

Here are the two REAL provisions in the bill: 

• Section 202 (Building Retrofit Program) would offer matching grants for home improvements.  State government would administer the program, which is voluntary and available to all property owners.
• Section 204 (Building Energy Performance Labeling Program) would apply to new construction only and prohibit time-of-sale labeling.  The original energy audit and MLS listing provisions were deleted as the result of NAR insistence; existing real estate was excluded from the bill’s requirements.