Senate advances real‑estate wholesalers bill after consumer‑disclosure amendments

JEFFERSON CITY — The Senate on Wednesday took up and perfected a substitute for Senate Bill 973, legislation addressing real‑estate wholesaling and sale‑leaseback transactions.

Senator from the twentieth moved the committee substitute to the floor and explained the measure, which drew floor inquiries about consumer protections. Following discussion, senators offered and adopted amendments that require a clear 14‑day disclosure to sellers in sale‑leaseback transactions and additional consumer‑protection language that gives homeowners time to consult a lawyer or real‑estate adviser before closing.

Senate Amendment 1 (a consumer‑protection/disclosure amendment) was adopted on the floor after senators described it as modeled on existing protections and intended to give vulnerable homeowners time for independent advice. Senator from the 24th said the goal was to ensure constituents "know what they're getting into" and to protect homeowners in financial distress.

Following the amendment process, the Senate substitute was declared perfected and ordered printed; the sponsor moved for perfection and closing and the body approved the motion. The floor action does not itself enact the bill; it advances SB973 to later legislative steps, including any further committee review, conference work and final floor votes.

The record shows the body handled multiple amendments by voice vote; the transcript records floor-level discussion and closing statements from sponsors and colleagues.