Bill > HB600

This bill establishes the Residential Housing Wholesalers Registration Act, which creates a comprehensive regulatory framework for individuals and entities who purchase or solicit residential properties for business purposes. The bill requires residential property wholesalers to obtain a license from the State Real Estate Commission, which involves submitting an application with a $200 non-refundable fee, providing proof of insurance, and passing a criminal background check that ensures no fraud-related convictions in the past six years. Licensees must provide homeowners with a mandatory disclosure at least three days before making a purchase offer, informing them about resources to assess property value and their options like hiring a real estate agent or seeking legal counsel. The bill also establishes a do-not-solicit list that allows property owners to opt out of receiving solicitations, and it prohibits licensed wholesalers from contacting homeowners on this list or making false or misleading statements during property solicitation. Violations can result in license refusal or revocation, and homeowners have the right to rescind sales agreements with unlicensed wholesalers. The act will take effect 60 days after passage and does not apply to cities of the first class, effectively targeting smaller municipalities in Pennsylvania.

Labor and Employment

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=H&type=B&bn=600