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Committee hears bill giving homeowners appraisal and cancellation rights for unsolicited purchase offers
Summary
House Bill 1081 would give owners of solicited real estate a right to an appraisal (buyer pays), notice of that right, and a limited period to cancel the contract; the bill would make violations enforceable under the Consumer Protection Act.
The Consumer Protection & Business Committee held a public hearing on House Bill 1081, which would create statutory protections for property owners who receive unsolicited offers to purchase property that is not currently listed for sale. Staff briefed the committee and Representative Brandy Donaghy, the bill’s prime sponsor, described the measure as a consumer protection to deter predatory solicitations.
Key provisions: HB1081 would require that when a property owner is solicited by public advertising or by written, electronic or in‑person contact for a property that is not listed for sale, the owner has three specified rights: (1) the right to an appraisal, (2) the right to receive notice of the right to an…
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