Builder/Sales & Marketing Roundtable

Two recent laws have raised questions among new home builders how this affects their sales contracts.

The Flood Hazard Disclosure Law, beginning on March 20, 2024, imposes certain disclosure requirements on the sellers of real property and landlords. The required disclosures must be made before a purchaser is obligated under a contract for the purchase.

The “Real Estate Consumer Protection Enhancement Act”, signed into law in July, strengthens consumer and real estate licensee protections and will be effective August 1, 2024. The legislation was spurred as a result of the National Association of Realtors settlement earlier this year.

Following a seminar the Builders League hosted on this topic in August, the builders present suggested BLSJ hold a roundtable meeting for the builders and their Sales & Marketing Directors to discuss and exchange ideas on complying with the new laws.