C.A.R. and CCAR are opposing AB 1406 (Ward), a bill that would double the statutory cap on liquidated damages when a buyer purchases a newly constructed, owner-occupied condominium from a developer. Specifically, AB 1406 increases the cap from 3% to 6% of the purchase price.
C.A.R. and CCAR oppose this measure because it weakens long-standing consumer protections that safeguard buyers’ hard-earned savings. By raising the cap, the bill puts buyers at risk of losing life-changing sums of money to help finance condominium projects—an outcome that unfairly shifts risk away from developers and onto consumers.
AB 1406 is expected to be voted on soon by the full Assembly.
Here’s how you can help!
Please contact your Assemblymember HERE TODAY and urge them to OPPOSE AB 1406.
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