Senate approves waiting-period rule for institutional buyers of single-family homes
The chamber approved a measure that requires designated institutional investors to wait 90 days before completing purchases of single- and two-family homes, an effort to keep owner-occupant buyers first in line; critics said the rule is arbitrary and may reduce seller proceeds.
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The Senate approved a bill that requires certain institutional real-estate investors to wait 90 days before finalizing offers on single- and two-family homes, with sponsors saying the pause helps owner-occupant buyers compete.
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