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Oklahoma Legislative Bills
3 legislative bills tracked for real estate wholesalers & investors
High Risk
Last synced: 6h ago
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SB1225Introduced Medium Risk
Oklahoma Real Estate License Code; requiring disclosures of fees; prohibiting certain requirements to show real estate. Effective date.
Summary
- SB1225 aims to amend the Oklahoma Real Estate License Code by requiring disclosures of fees associated with real estate transactions and prohibiting certain requirements for showing properties
- This legislation seeks to enhance transparency in real estate dealings
What This Means for Wholesalers
- For wholesalers, this bill may introduce new disclosure requirements that could affect how they present their contracts to potential buyers
- If the bill imposes stricter regulations on fee disclosures, wholesalers might need to adjust their practices to remain compliant
disclosure required
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HB1148Enacted — In ForceIn force since Nov 1, 2021 High Risk
Professions and occupations; prohibiting certain contracts for sale of real property; effective date.
Summary
- This bill prohibits certain contracts for the sale of real property, which may include contracts commonly used by real estate wholesalers
- It aims to regulate the types of agreements that can be made in real estate transactions
What This Means for Wholesalers
- For real estate wholesalers, this bill could significantly limit their ability to operate, as it may restrict the contracts they can use to assign properties
- Wholesalers may need to adjust their business practices to comply with the new regulations or face legal consequences
license required
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SB1075Passed Medium Risk
Oklahoma Real Estate License Code; prohibiting certain practices without disclosure. Effective date.
Summary
- SB1075 amends the Oklahoma Real Estate License Code to prohibit certain practices related to real estate transactions without proper disclosure
- The bill aims to enhance transparency in real estate dealings
What This Means for Wholesalers
- This bill may impact wholesalers by requiring them to disclose specific practices when assigning contracts, potentially increasing their legal obligations
- Wholesalers may need to ensure compliance with the new disclosure requirements to avoid penalties
disclosure required
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