The DC Council just made it’s first step towards sweeping changes to DC’s TOPA law. Best known as the First Right of Refusal, TOPA was meant to protect tenants from losing their homes by giving them an opportunity to purchase the property before it is sold to another buyer. However, the law has been exploited by greedy developers and lawyers, who demand Sellers pay them thousands of dollars, or else they’ll hold up the transaction. Not cool at all, and expensive for folks looking to sell their homes.
The DC Council passed two amendments that exclude single family homes from TOPA, while also boosting protections for seniors and persons with disabilities. Check_out this article for more info.