Bill > HB2517

This bill establishes new disclosure requirements for "wholesalers" involved in real estate transactions in Missouri, defining a wholesaler as someone who enters into a contract to buy residential property (defined as property with one to four dwelling units) and then assigns or novates that contract to another party, without necessarily holding legal title themselves, unless the assignment is to a blood relative or an affiliated entity. Specifically, a wholesaler acting as the buyer must provide the property's record owner with a separate, conspicuous written disclosure statement at least fourteen calendar days before signing a purchase contract, informing the owner that they are dealing with a wholesaler who intends to assign the contract for profit, may not represent the owner's interests, and that the owner is advised to seek legal counsel. This disclosure must be signed and dated by both the owner and the wholesaler before a binding contract can be formed. Failure to provide this disclosure allows the owner to cancel the contract before closing without penalty, with any earnest money returned to the owner. The bill also states that any attempt to modify or waive these provisions is void and that violations will be considered unlawful practices under the Missouri Merchandising Practices Act, allowing affected parties to sue for damages, and granting the Attorney General authority to enforce these provisions through civil action.

Business and Industry, Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB2517&year=2026&code=R