AB-948

Status: Signed into law September 28, 2021 (Chapter 352, Statutes of 2021)

Update, September 7, 2021

 

We are pleased to announce that C.A.R. supported AB 948 (Holden) passed out of the Senate and is now pending a final vote in the Assembly. Once it passed out of the Assembly, as it is likely to do, it will go to the Governor for his consideration.

AB 948 (Holden) Appraiser Discrimination

 

This bill requires a purchase agreement in a real estate transaction to inform a seller and buyer of the opportunity to report, through the Department of Consumer Affairs’ internet website or telephone number, any suspicion of a discriminatory appraisal by the holder of a real estate appraiser license. It, furthermore, would require such a notice to be provided by a lender when a buyer is applying for a loan. Finally, the bill will make changes to the fair housing to apply the law to refinancing transactions. C.A.R. staff was involved in working with the Author’s office to help make the bill effective and at the same time ensure it did not delay real estate transactions.