California's recent enactment of "The Flipper Law" (Assembly Bill 968) has brought significant changes to real estate transactions, impacting residential 1 to 4 unit properties where the seller accepts an offer from a buyer on or after July 1, 2024.
Key Points of The Flipper Law:
The law applies to transactions where the seller accepts an offer on or after July 1, 2024.
"Flippers" must disclose recent repairs and renovations for properties resold within 18 months of closing, along with standard TDS categories, exemptions, and cancellation rights.
Sellers must disclose room additions, structural modifications, alterations, and repairs, along with contractor details for work exceeding $500.
For real estate investors, understanding and complying with these new requirements is essential to avoid potential legal and financial repercussions.
I'm committed to providing guidance and support to investors navigating these new laws. Reach out to our team for assistance in making informed investment decisions amidst these regulatory changes.
Stay informed and proactive to navigate these shifts with confidence in the dynamic real estate market.
Contact me @ [email protected] for personalized support regarding these regulatory changes and their impact on real estate investing.
Beita
