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House Co-Sponsorship Memoranda
House of Representatives
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | March 31, 2023 09:25 AM |
|---|---|
| From: | Representative Ed Neilson |
| To: | All House members |
| Subject: | Protect Homeowners - Registration of Housing Wholesalers (Former HB1697) |
| Signs displaying the words “We Buy Houses” are now commonplace in neighborhoods across Pennsylvania. These signs are often the work of unlicensed housing wholesalers who contract with a seller and then assign the contract to a buyer prior to the contract’s expiration. Any profit gained by reassigning the contract is not necessarily passed onto the seller. This means wholesalers can take advantage of our most vulnerable homeowners. Wholesalers should be licensed by the state as real estate professionals to further protect our homeowners. In the near future, I intend to reintroduce legislation modeled after a Philadelphia ordinance requiring wholesalers to become licensed, provide sellers with disclosures, and create a “Do-Not-Solicit” list to shield homeowners who do not want to sell their home. We need to defend Pennsylvania homeowners and ensure they receive a fair value for their property. Please join me in co-sponsoring this legislation. Your consideration is greatly appreciated. |
Introduced as HB927