❌ HB287
Revise law related to real estate wholesalers
Summary
HB287 amends sections 4735.18 and 4735.24 and enacts section 5301.95 of the Revised Code to regulate real estate wholesalers in Ohio. It requires wholesalers to provide a written disclosure statement to property owners before entering into contracts and establishes penalties for failing to comply with these requirements. The bill also outlines various disciplinary actions for real estate licensees found guilty of misconduct.
Rationale
The bill imposes additional regulations on real estate wholesalers, which may conflict with the Libertarian principles of minimal government intervention and free markets. Both the LP and LPO platforms advocate for reduced government restrictions on property rights and economic transactions, suggesting that this bill may be seen as an overreach.
Risks and Concerns
- Increased government regulation on real estate transactions
- Potential for reduced market efficiency due to compliance burdens
- Risk of limiting opportunities for individuals to engage in wholesaling