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OH SB155

Bill

Status

Passed

3/2/2026

Primary Sponsor

Andrew Brenner

Click for details

Origin

Senate

136th General Assembly

AI Summary

  • Defines "wholesaler" as a person who enters into a purchase contract for residential real property (1-4 dwelling units) and assigns or novates that contract to another party for a fee or commission

  • Requires wholesalers acting as grantees to provide property owners with a separate, conspicuous written disclosure statement in at least 12-point boldface type before entering into a binding contract

  • Disclosure must inform owners that the wholesaler does not represent them, may assign the contract without consent, may charge additional fees to third-party buyers, and that the purchase price may be below market value

  • Allows property owners to cancel contracts without penalty at any time before closing 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 law, giving affected parties a private cause of action and the Attorney General enforcement authority

Legislative Description

Revise the real estate wholesaler law

Commerce

Last Action

Effective

3/2/2026

Committee Referrals

Development6/11/2025
Judiciary3/26/2025

Full Bill Text

No bill text available