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HB1028

Real estate settlement; choice of settlement service provider.

Status:
Killed

Chief Patron:
Kelly Fowler (D)

Session:
2018 Regular Session

Summary

As Introduced. Real estate settlement; choice of settlement service provider.

Provides that a purchaser or borrower in a transaction related to real estate in the Commonwealth shall have the right to select the settlement agent, mortgage lender or broker, and any other vendor associated with the financing or settlement of such real estate. Currently, such right is limited to the choice of settlement agent. The bill also prohibits the seller or any other party associated with a real estate transaction from requiring the use of, or offering anything of value for the use of, a particular mortgage lender or broker or any other vendor as a condition of the sale. (Less)

  • Bill History

  • 01/09/2018 - House: Prefiled and ordered printed; offered 01/10/18 18102638D
  • 01/09/2018 - House: Referred to Committee on General Laws
  • 01/25/2018 - House: Impact statement from SCC (HB1028)
  • 01/26/2018 - House: Assigned GL sub: Subcommittee #2
  • 02/08/2018 - House: Subcommittee recommends continuing to 2019
  • 02/13/2018 - House: Left in General Laws

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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