Bill
HB 1151
The bill adds a structured, time‑limited process for buyers and sellers to submit information to appraisers to reconsider appraised values, potentially adjusting value closer to co
Note on source materials
- The documents provided include multiple, unrelated HB 1151 drafts from different states and subjects. This summary focuses on the Maryland 2025-session bill titled “Residential Real Property Sales – Appraisals” (HB 1151), which is the substantive material in the fiscal note and the bill text you supplied. If you intended a different HB 1151 (for example the item labeled “Death penalty” or bills from other states), tell me which one and I will summarize that version.
Bill purpose and intent
- To change procedures for residential real estate appraisals by (1) allowing sellers (and sellers’ agents) to submit valuation information to appraisers, (2) creating a short reconsideration process when an appraisal is below the contract price (or below an owner’s expectation in refinance/home‑equity cases), (3) requiring lenders to provide copies of appraisals or reconsiderations at no cost on request, and (4) ensuring appraiser training/continuing education covers these requirements. The overall intent is to provide a structured, time‑limited way to surface and consider additional market or cost data that could affect an appraised value.
Key provisions (plain language)
- Seller input: A seller or the seller’s agent may, at any time during the sale process, provide an appraiser with information about the property’s value (e.g., comparable sales, cost‑approach data). The appraiser must accept and consider that information.
- Notification when appraisal is low: If an appraiser determines the appraised value is lower than the contract sale price, the appraiser must notify the lender; the lender must promptly notify the prospective buyer and the buyer’s agent.
- Two‑day reconsideration window: After the buyer receives lender notice and notifies the seller, the buyer and seller have two business days to supply further information to the lender for submission to the appraiser for reconsideration.
- Cost approach requirement: An appraiser who reconsiders an appraisal after receiving new information must also consider a cost approach as part of the reconsideration.
- Refinance/home‑equity cases: An owner refinancing or seeking a HELOC may likewise submit additional information (including comparables) for appraiser reconsideration; the lender must pass this information to the appraiser.
- Free copy: A written copy of any additional appraisal or reconsideration must be provided by the lender to the requesting party at no cost.
- Appraiser education: Required training and continuing education for licensed appraisers in the State must include instruction on the bill’s requirements.
Who is affected
- Sellers and sellers’ agents (can submit valuation materials)
- Buyers and buyer agents (receive notice and participate in the short reconsideration process)
- Appraisers and appraisal management companies (must accept seller‑provided info, perform reconsiderations, include cost approach on reconsideration)
- Lenders and mortgage originators (must forward info, notify parties, and provide copies at no cost)
- Homeowners refinancing or applying for HELOCs (may request reconsideration)
- The real estate and lending industry broadly (modifies appraisal workflow)
Fiscal and timing notes
- Fiscal note (Maryland Department of Legislative Services): the bill is not anticipated to materially affect State or local government finances or operations; small business impact is minimal.
- Effective date in the Maryland bill text: October 1, 2025.
- Related/companion: SB 1470 (companion noted in the materials).
Limitations / document inconsistencies
- The packet included unrelated HB 1151 drafts from other states and an initial metadata line naming a different subject (“Death penalty”). This summary is limited to the Maryland appraisal bill (Residential Real Property Sales – Appraisals). If you want a summary of a different HB 1151 instance, specify the state or subject and I’ll prepare that.
Compiled from official sources — confirm details with the bill’s official record.
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