Journalist: Dylan Davis (OSU)
On Friday, the “Seller Transparency Act” will be presented to the OIL Senate by Sen. Brooklyn Teel (OSU). This bill would require homeowners and contractors to report major home repairs that are completed from 2027 onward. This bill aims to promote transparency in Oklahoma Real Estate and help potential buyers better understand which repairs have been completed before they purchase a home.
Currently, homeowners are not required to report major home repairs to any specific
government agency within Oklahoma. The bill proposes changing that by creating the
“computer-based disclosure system.” This online database would be operated by the Oklahoma
Real Estate Commission and would store information regarding major home repairs completed
by homeowners and contractors. The proposed database for each residential property would be
open to all potential buyers who wish to access its information.
This bill defines major home repairs as “any alteration, repair, or improvement to a
residential property or associated land that results in a substantial structural, mechanical, or
functional change.” A few examples listed in the bill include the removal or modification of a
load-bearing wall, the installation of a water well or septic system and the replacement or major
modification of plumbing systems. Notably, the bill does not require homeowners to report major
repairs in progress to the department; instead, it requires reporting within 90 days of the project’s
completion. Importantly, repairs completed before January 1, 2027, will not be required to be
reported to the Oklahoma Real Estate Commission.
Homeowners, firms and corporations found to be in violation of the potential new
reporting rules this bill would require will face a fine of at least $3,000. According to the bill,
these fines would be the sole funding for this new program.
Sen. Teel will present the legislation in the Senate on Friday afternoon. If passed, the bill
will likely next be heard in the OIL House of Representatives. Homeowners and contractors will
be watching intently as this bill could create a statewide system for reporting and accessing home
repairs.