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OH HB438
Bill
Status
3/4/2024
Primary Sponsor
Josh Williams
Click for details
AI Summary
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Prohibits real estate brokers and salespersons from disclosing a prospective purchaser's name, age, race, or address to sellers or their agents before the parties agree to contract terms, with purchaser initials permitted in place of full name on offer documents.
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Requires licensees to provide a signed and notarized affidavit to the seller confirming receipt of pre-approval or proof of funds documents and the amount available, rather than disclosing those documents directly.
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Mandates that within 48 hours after the purchaser and seller agree to contract terms, the licensee must supplement offer contracts and agency disclosures with the purchaser's full name, current address, and all other previously redacted information.
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Amends section 4735.181 to include new section 4735.80 as a compliance requirement for licensed real estate professionals, with violations subject to citations of up to $200 per violation and automatic license suspension for non-compliance within 30 days.
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Establishes the act as the "Homebuyer Protection Act" to protect purchaser privacy during the initial offer stage of real estate transactions.
Legislative Description
Enact the Homebuyer Protection Act
Commerce
Last Action
Reported - Substitute: Civil Justice
12/18/2024