TO CREATE THE BUYER BEWARE ACT; AND TO REQUIRE A REAL ESTATE LICENSEE REPRESENTING A SELLER TO DIRECT THE SELLER TO THE OFFICE OF THE COUNTY ASSESSOR FOR THE CURRENT ASSESSED VALUE OF A RESIDENTIAL REAL ESTATE PROPERTY.

HB 1905, known as the "Buyer Beware Act," aimed to modify disclosure requirements for real estate licensees involved in residential property sales. The bill would have prohibited a licensee representing a seller from disclosing the taxable value of residential property in a listing. Instead, the listing would be required to direct potential buyers to the county assessor for the current assessed value. Additionally, licensees would have to provide written disclosure to potential buyers, explaining that existing property tax assessment limitations do not transfer to new owners.