EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*hb1151*
HOUSE BILL 1151
N1 5lr1457
By: Delegates Taylor, Acevero, Alston, Amprey, Boafo , Conaway, Crutchfield,
Fennell, Harris, Holmes, Kaufman, Lehman, Martinez, McCaskill, Pasteur,
Pena–Melnyk, Phillips, Roberson, Roberts, Ruff, Simpson, Taveras, Toles,
Turner, Valderrama, Wells, White Holland, Wilkins, Wims, and Woods
Introduced and read first time: February 6, 2025
Assigned to: Environment and Transportation
A BILL ENTITLED
AN ACT concerning 1
Residential Real Property Sales – Appraisals 2
FOR the purpose of authorizing the seller of residential real property to request that a 3
certain lender have an additional appraisal made under certain circumstances; 4
requiring the lender to provide to the seller a written copy of the additional appraisal; 5
and generally relating to appraisals for residential real property. 6
BY repealing and reenacting, with amendments, 7
Article – Real Property 8
Section 14–104.1 9
Annotated Code of Maryland 10
(2023 Replacement Volume and 2024 Supplement) 11
BY adding to 12
Article – Real Property 13
Section 14–104.2 14
Annotated Code of Maryland 15
(2023 Replacement Volume and 2024 Supplement) 16
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 17
That the Laws of Maryland read as follows: 18
Article – Real Property 19
14–104.1. 20
2 HOUSE BILL 1151
(A) If a bank, mortgage banker, savings and loan association, or any other lender 1
has an appraisal made on residential real property to establish a market value for lending 2
purposes, the lender shall give a copy of any written appraisal to the borrower on [his] THE 3
BORROWER ’S request if the borrower pays the cost of the appraisal. 4
(B) The appraisal may be submitted to another lender if the original lender has 5
rejected the borrower’s loan application. 6
14–104.2. 7
(A) IF THE APPRAISAL OF RESIDENTIAL REAL PROPERTY MADE UNDER § 8
14–104.1 OF THIS SUBTITLE IS LOWER THAN THE CURRENT MARKET VALUE OF THE 9
PROPERTY, THE SELLER MAY REQUE ST THAT THE LENDER HAVE ONE ADDITIONAL 10
APPRAISAL MADE. 11
(B) A WRITTEN COPY OF AN ADDITIONAL APPRAISAL MADE UNDER THIS 12
SECTION SHALL BE PROVIDED TO THE SELLER AT NO COST TO THE SE LLER. 13
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 14
October 1, 2025. 15