Bill > HF2207

This bill aims to regulate the purchase of single-family homes by certain business entities, defining a "private equity entity" as any legal entity, other than an individual, that pools money from investors to buy residential properties for investment, rental, or resale, and a "single-family residence" as a home designed for one household on property zoned for such use, excluding multi-unit buildings and condominiums. The core provision prohibits these private equity entities from buying, contracting to buy, or otherwise acquiring a single-family residence for the first 75 days it's listed for sale on the open market, with the 75-day clock starting when the home is first advertised through a multiple listing service, a licensed real estate broker, or a public listing platform. The bill also prevents these entities from circumventing this restriction by using related companies or representatives and requires them to submit a sworn affidavit to the county recorder, confirming their purchase adheres to the 75-day rule or is otherwise legally exempt, and the county recorder is forbidden from officially recording the property transfer unless this affidavit is provided.

Government Affairs

https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=HF2207