This bill amends the West Virginia Real Estate License Act by adding a new requirement for real estate licensees to disclose water and sewer utility rates to buyers. Specifically, it inserts a new provision stating that licensees must provide this information at the point of sale or upon the final acceptance or ratification of any contract. This addition aims to ensure that buyers are fully informed about the utility costs associated with a property before finalizing their purchase.

Additionally, the bill makes some adjustments to the existing duties of licensees. It deletes the previous subsection (g) and renumbers the subsequent subsections accordingly. The new subsection (h) now requires licensees to deliver a true copy of the contract to the party whose signature was obtained at the time of securing the signature, while the new subsection (i) mandates that a true copy of the contract be promptly delivered to each party that has signed the contract upon final acceptance or ratification. These changes are intended to enhance transparency and protect the interests of all parties involved in real estate transactions.

Statutes affected:
Introduced Version: 30-40-26