Wholesalers; require certain written disclosures for when purchasing residential real estate for transfer to third party purchaser.

HB 1682 requires real estate wholesalers to provide specific written disclosures to homeowners when purchasing residential property with the intent to transfer the purchase contract to a third party. The bill defines "wholesaler" as any person or entity buying residential property (with 1-4 dwelling units) to assign or sell their contractual rights for profit, excluding it from standard licensing exemptions. Contracts lacking these disclosures would be invalid, and the requirement applies only to residential transactions. The law clarifies that wholesalers must comply with these disclosure rules, which are separate from existing real estate licensing requirements.