T
he Seattle City Council's Housing and Human Services Committee is set to consider legislation aimed at protecting homeowners from predatory buyers. The proposed law would establish new consumer protections for property owners, including the right to an appraisal by a licensed appraiser, notice of this right, and the ability to cancel a purchase contract.

    If passed, the legislation would impose stricter fines on violators while providing property owners with more time to cancel contracts and access to legal action if buyers fail to comply. This proposal comes in response to decades-long concerns about predatory buying practices that have contributed to displacement in areas like the Central District.

    Predatory home-buying targets vulnerable communities, often resulting in lower sale prices than those achieved through traditional listings. These practices also disproportionately affect communities of color, exacerbating economic disparities and eroding generational wealth. Groups like the Black Legacy Homeowners are working to support homeowners against displacement, but legislative solutions have been slow to materialize.

    The proposed legislation would bring Seattle's laws into alignment with state regulations while providing enhanced protections for property owners.