Maryland Legislative Bills

2 legislative bills tracked for real estate wholesalers & investors

Medium Risk

Last synced: 8h ago

HB124Enacted — In ForceIn force since Oct 1, 2025 Medium Risk

Residential Property - Assignment of Contracts of Sale - Disclosure Requirements and Rescission

Summary

This bill allows sellers or assignees of residential property to cancel a sale contract without penalty before closing if proper notice is not given
It also ensures that assignees can get their deposit back under certain conditions and mandates that contracts comply with new requirements

What This Means for Wholesalers

For wholesalers, this means they must ensure compliance with the new contract requirements to avoid penalties and ensure they can recover deposits if needed
The ability to rescind contracts without penalty could also affect their negotiation strategies and risk assessments

disclosure required

SB160Enacted — In ForceIn force since Oct 1, 2025 Medium Risk

Summary

The bill allows sellers, buyers, or assignees of residential property to cancel a contract of sale without penalty before closing if the seller fails to provide required notice
It also ensures that assignees can receive a refund of any deposit under certain conditions and mandates that contracts comply with the new requirements

What This Means for Wholesalers

For wholesalers, this bill introduces a requirement for compliance with specific contract standards and provides a mechanism for rescission, which could affect their ability to assign contracts
Wholesalers must ensure they are aware of these disclosure requirements to avoid potential penalties or disputes

disclosure required