PA HB600

Requires residential property wholesalers to obtain a license from the State Real Estate Commission, with a $200 nonrefundable application fee, proof of insurance, and criminal background check showing no fraud or dishonesty convictions within the past six years

Defines residential property wholesalers as persons or entities purchasing or soliciting residential properties not for personal residence, excluding public officials acting in official capacity, those who substantially improve properties for resale, and licensed attorneys or real estate professionals

Mandates wholesalers provide homeowners with a disclosure at least three days before presenting a purchase offer, informing them of fair value assessment resources and their right to hire a real estate agent or seek legal counsel

Creates a do-not-solicit list maintained by the commission allowing property owners to opt out of solicitations, with licensees prohibited from contacting homeowners on the list

Allows homeowners to rescind sales agreements with unlicensed wholesalers any time before title transfer; does not apply to cities of the first class (Philadelphia); takes effect in 60 days