When a broker is representing a consumer in a transaction for which a principal to the transaction, including a home builder, a bank, or a buyer, requires the use of a purchase contract that was created by the principal, the broker shall advise the consumer to seek legal advice from a licensed attorney before the consumer enters into the purchase contract. If a broker contract includes a unilateral cancellation clause in favor of the broker, that provision must be clearly and conspicuously disclosed to the consumer.
Source: L. 2026: Entire section added, (HB 26-1426), ch. 334, p. 2022, § 89, effective August 12.