Is it legal to wholesale real estate?

December 1st, 2008

by Jesse Davis

Let’s say you are interested in getting started wholesaling properties but not sure what the state laws are concerning this kind of real estate transactions and you don’t want to break any laws unknowingly.

First of all, although every state is different I can tell you that wholesaling is legal everywhere. That is just business and the free market system - buy low and sell high - nothing to worry about here.

If you are not a realtor, you are not considered a professional and you have less to worry about. Even though some realtors don’t know Jack - I know some friends who have taken Realtor tests in several different sates and passed without any studying. In most states you have to score only 70 to pass and get your license - a D grade when I was in school. So much for being professional.

Well, here is my philosophy about the legal aspect: do what is right and be brutally honest in everything you do. If you are still concerned about the legal aspects, talk to a good real estate closing attorney or a real estate specific attorney, they can direct you.

In my opinion, only people who are trying to cheat people should be worried about legalities. As long as the purchase is an “As Is” purchase, you are fine and a buyer will not be able to come back on you. So don’t try to trick anybody in any kind of way, do right, tell the truth, and you should have nothing to worry about, ever.

About the Author:
The author, Jesse Davis is an expert wholesaler in the Jackson, Mississippi, Real Estate market. He has wholesaled over 80 properties this year alone, and he teaches a seminar on how to really be successful in today’s market. Go here to learn how to find all the buyers you will ever need to build a massive monthly income in Real Estate today

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