Last week, Seattle Mayor Bruce Harrell introduced new legislation aimed at curbing predatory homebuying practices and strengthening protections for vulnerable homeowners. The proposal builds on an executive order issued earlier this year by Harrell to prevent displacement and preserve communities across the city.
“Homeowners – especially seniors, low-income families, and those in historically marginalized communities – deserve to stay in their homes without being targeted by deceptive or aggressive buyers,” said Harrell. “These new protections promote transparency, fairness, and accountability, ensuring homeowners know their rights while helping keep Seattle’s vibrant, diverse communities rooted in place.”
Predatory homebuying refers to unsolicited offers made on homes not listed for sale, often targeting elderly or financially distressed homeowners with below-market cash offers. Such practices have become increasingly common in neighborhoods facing gentrification and rising housing costs…