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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) Each real estate contract submitted to a party by a real estate broker, an associate real estate broker, or a real estate salesperson for use in the sale of a single-family dwelling shall contain, in bold-faced type, a statement that the buyer has the right to select the buyer's own:
(1) title insurance company;
(2) settlement company;
(3) escrow company;
(4) mortgage lender, or financial institution as defined in the Financial Institutions Article; or
(5) title lawyer.
(b) The statement required under subsection (a) of this section shall also contain, in bold-faced type, a statement that a seller may not be prohibited from offering owner financing as a condition of settlement.
(c) A real estate contract is not rendered invalid by the omission of the statement to the buyer required under subsections (a) and (b) of this section.
Cite this article: FindLaw.com - Maryland Code, Business Occupations and Professions § 17-524 - last updated January 01, 2025 | https://codes.findlaw.com/md/business-occupations-and-professions/md-code-bus-occup-and-prof-sect-17-524/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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