Bill > HB1151

This bill modifies Maryland's real property laws to provide more transparency and opportunities for property sellers and owners during the appraisal process. The bill allows sellers or their agents to provide additional information about a property's value, such as comparable sales data, to an appraiser during the sale process, and requires appraisers to accept and consider this information. If an appraisal comes in lower than the contract price, the lender must notify the prospective buyer, who then has 2 business days to provide additional property information for the appraiser to reconsider. The bill also extends similar rights to property owners seeking to refinance a mortgage or establish a home equity line of credit, allowing them to submit additional information if an appraisal is lower than expected. Furthermore, the bill requires that any reconsideration of the appraisal, including the new appraisal or additional documentation, must be provided to the requesting party at no cost. The legislation also mandates that appraiser training and continuing education include information about these new requirements. The bill is set to take effect on October 1, 2025, and aims to give property owners more agency in the valuation of their real estate.

Justice, Transportation and Infrastructure

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1151?ys=2025RS