The Consumer Real Estate Protection Act (CRESPA) applies to transactions of properties with a maximum of how many units?

The Consumer Real Estate Protection Act (CRESPA) applies to transactions involving properties with a maximum of four units. This means it specifically targets residential real estate transactions, including single-family homes, duplexes, triplexes, and fourplexes. The rationale behind this designation is to provide protections primarily for residential consumers engaging in these types of real estate transactions. CRESPA aims to ensure that buyers and renters receive necessary disclosures and protections, enhancing transparency and trust within the real estate market for these residential properties.

Properties with more than four units typically fall under different regulations and may not enjoy the same consumer protections provided by CRESPA, as they often relate to commercial real estate transactions rather than purely residential ones. Therefore, understanding that CRESPA's reach is limited to properties with up to four units clarifies its intent and application in the real estate landscape.