OH HB287

Defines "wholesaler" as a person who enters into a purchase contract for residential real property (1-4 dwelling units) to assign or novate the contract to another party for a fee or commission

Requires wholesalers acting as grantees to provide property owners a conspicuous written disclosure statement in boldface 12-point type before entering binding contracts, explaining that the wholesaler acts on their own behalf, may assign contracts without owner consent, and may purchase below market value

Grants property owners the right to cancel contracts at any time before escrow closes without penalty if the wholesaler fails to provide required disclosures, with earnest money returned within 30 days

Classifies violations as unfair or deceptive trade practices under Ohio's Consumer Sales Practices Act, giving affected parties a private cause of action and the Attorney General enforcement authority

Adds failure to comply with the new wholesaler disclosure requirements to the list of disciplinary violations for licensed real estate brokers and salespersons