A wholesaler acting as a grantee shall not enter into a contract that transfers an interest in residential property until both the wholesaler and the property owner sign and date the disclosure.

If the wholesaler acting as the grantee fails to make the disclosure before entering into the contract that transfers interest in the property, the owner of the property may cancel the contract before the close of the escrow without penalty and the escrow agent shall disburse any earnest money paid by the wholesaler to the owner within 30 days after the cancellation.

Provisions of the act shall not be modified or waived by any agreement. Any portion of an agreement executed, modified, or extended after the effective date of the act that modifies or waives provisions of the act shall be null and void.

Any violation of the act shall be considered an unlawful practice under the Missouri Merchandising Practices Act. A party that enters into an agreement without receiving the disclosure under the act may bring a private action against a wholesaler.

The Attorney General shall enforce provisions of the act. For any violations, the Attorney General shall commence a civil action. If the court finds that a violation occurred, the court may grant relief as described in the act.

JULIA SHEVELEVA