Missouri SB973 mandates disclosure requirements for wholesalers in residential real estate transactions.

Missouri SB973 introduces new disclosure requirements for wholesalers in residential real estate transactions. Wholesalers must provide a written disclosure statement to the property owner before entering into a contract. The statement must be printed in boldface type font size not less than twelve points. If the wholesaler fails to provide this disclosure, the owner can cancel the contract without penalty. The bill also prohibits wholesalers from entering into binding contracts without the required disclosures and allows the owner to seek damages in court for violations.

Missouri SB973 mandates disclosure requirements for wholesalers in residential real estate transactions.

Missouri SB973 introduces new disclosure requirements for wholesalers in residential real estate transactions. Wholesalers must provide a written disclosure statement to the property owner before entering into a contract. The statement must be printed in boldface type font size not less than twelve points. If the wholesaler fails to provide this disclosure, the owner can cancel the contract without penalty. The bill also prohibits wholesalers from entering into binding contracts without the required disclosures and allows the owner to seek damages in court for violations.