MO SB973

Wholesalers of residential real property (1-4 dwelling units) must provide property owners a written disclosure statement at least 14 calendar days before entering a purchase contract, printed in boldface type of at least 12 points

The disclosure must inform owners that the wholesaler acts on their own behalf, may assign the contract to a third party without consent, may charge fees for profit, and that the purchase price may be below market value

Failure to provide required disclosures constitutes an unlawful practice under the Missouri Merchandising Practices Act, allowing owners to cancel contracts before escrow closes and receive earnest money within 30 days

Creates the "Missouri Residential Sale Leaseback Protection Act" requiring buyers in sale-leaseback transactions to provide sellers a disclosure at least 14 days before execution, with a mandatory 30-day waiting period before title transfer

Violations carry civil penalties up to $10,000 per violation, with sellers able to recover actual damages plus $10,000 statutory damages, attorney's fees, and injunctive relief