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.
Well, although every state is different I can tell you that wholesaling is legal everywhere. It's just business and the free market system. You buy low and sell high, nothing to worry about here.
If you are not a realtor, you don't have to worry about it also because you are not considered a professional. Even though some realtors don't know Jack - I know some people who have taken Realtor test - in several different sates - and passed without studying. In most states you only have to score a 70 to pass the bloody exam and get your license. That was a D grade when I was in school. So much for them being professional.
Anyway, here is my philosophy about the legal aspect. Do what is right and be brutally honest in everything you do - and you have nothing to worry about. If you are still concerned about the legality, talk to a real estate closing attorney (or a real estate specific attorney) and they can direct you.
Again, the only people that are or should be worried about legalities are people who are trying to cheat people, in my opinion. As long as the purchase is an "As Is" purchase, you are fine. A buyer will not be able to come back on you. Don't be dishonest about anything and don't try to trick anybody in any kind of way. So do right, tell the truth, and you should have nothing to worry about. - 16732
Well, although every state is different I can tell you that wholesaling is legal everywhere. It's just business and the free market system. You buy low and sell high, nothing to worry about here.
If you are not a realtor, you don't have to worry about it also because you are not considered a professional. Even though some realtors don't know Jack - I know some people who have taken Realtor test - in several different sates - and passed without studying. In most states you only have to score a 70 to pass the bloody exam and get your license. That was a D grade when I was in school. So much for them being professional.
Anyway, here is my philosophy about the legal aspect. Do what is right and be brutally honest in everything you do - and you have nothing to worry about. If you are still concerned about the legality, talk to a real estate closing attorney (or a real estate specific attorney) and they can direct you.
Again, the only people that are or should be worried about legalities are people who are trying to cheat people, in my opinion. As long as the purchase is an "As Is" purchase, you are fine. A buyer will not be able to come back on you. Don't be dishonest about anything and don't try to trick anybody in any kind of way. So do right, tell the truth, and you should have nothing to worry about. - 16732
About the Author:
About the author: Jesse Davis is an experienced 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
