IA SF460

Only home inspectors who are members of a national home inspectors association, licensed/registered inspectors from other states, licensed architects, or licensed professional engineers may issue independent home inspection reports

Home inspectors are prohibited from performing repairs on properties they inspected within the preceding 12 months, inspecting properties where they have a financial interest in the transfer, offering kickbacks to sellers or real estate agents, and accepting contingent fee arrangements

Independent home inspection reports must include the scope of inspection, material defects identified, and mandatory disclosure statements clarifying the inspection is visual-only, does not represent latent defects, and is not an appraisal

Home inspectors must maintain errors and omissions insurance and general liability coverage of at least $100,000 per occurrence and $500,000 aggregate, with deductibles not exceeding $2,500

Violations carry penalties including simple misdemeanor for first offense, serious misdemeanor for subsequent offenses, and property owners are entitled to full refunds for repairs performed in violation of the 12-month prohibition