SACRAMENTO – The state Senate Committee on Business, Professions, and Economic Development has approved a bill by Assemblymember Jim Frazier (D-Discovery Bay) to clarify the scope of real estate appraisers and home inspectors and to ensure that those engaging in these professions are qualified.
AB 1018 specifies that the role of a real estate appraiser is to determine the approximate value of real estate according to comparable homes in the surrounding area. The bill also prohibits a real estate appraiser from acting as the home inspector, and conversely, prevents a home inspector from giving an opinion on the value of a property.
“A home is typically the biggest purchase a person will make in their lifetime. It’s critical that they get a fair, unbiased appraisal of the home,” Frazier said. “A real estate appraisal and real estate inspector are two very different areas of expertise and the two should not mix together to form the valuation of a home.”
The State Assembly unanimously approved AB 1018 earlier this month. It now goes to the Senate Appropriations Committee. To follow along or learn more about AB 1018, click here.
Assemblymember Frazier represents the 11th Assembly District, which encompasses a large cross section of the Delta in Central Solano, Eastern Contra Costa and Southern Sacramento counties, and includes the communities of Antioch, Bethel Island, Birds Landing, Brentwood, Byron, Collinsville, Discovery Bay, Fairfield, Isleton, Knightsen, Locke, Oakley, Pittsburg (partial), Rio Vista, Suisun City, Travis AFB, Vacaville and Walnut Grove.