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House moves to regulate residential real‑estate wholesaling with registration, disclosure and a short cooling‑off period
Summary
Lawmakers voted to regulate residential real‑estate wholesaling by requiring DCP registration, a seller disclosure and a 3‑business‑day rescission (cooling‑off) period, limiting initial wholesale contracts to 90 days and prohibiting filing such contracts as recorded liens; sponsors said regulation increases transparency without banning the practice.
The House adopted a measure to bring residential real‑estate wholesaling into a light regulatory framework designed to protect sellers while allowing the business model to operate.
Representative Lamar (General Law) summarized the bill nd the accompanying amendment: wholesalers would register with the Department of Consumer Protection, provide a standardized disclosure to sellers before contract execution that explains the differences between a…
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