23 states now regulate real estate wholesaling. Here is what each one requires.
If someone offers to buy your house for cash and then sells your contract to another investor, that is wholesaling. Whether that person needs a license, has to tell you what they are doing, or has to let you back out depends on which state the house is in. We checked all 50 states and Washington, D.C. against the statute books as of September 30, 2026.
By Drew Heberer, editor of FrontPorchOffers. I buy houses for a living, so I have a stake in how this gets regulated. Every state below cites the statute or the state regulator's own page. This is a reference for homeowners and reporters, not legal advice.
23
states with a wholesaling law
4
with partial rules through regulators or general license law
7
give sellers a set window to cancel (one starts in 2027)
24
with no wholesaling-specific law
What changed
2026 was the busiest year yet for wholesaling laws
Ohio's disclosure law took effect March 2. Connecticut began requiring wholesalers to register on July 1. Louisiana's law took effect August 1, and Missouri's on August 28. Delaware's governor signed a law on June 1 that requires a real estate license starting February 26, 2027, and Rhode Island's new license and cancellation rules start January 1, 2027.
No state has banned wholesaling outright. South Carolina comes closest: marketing a property you only hold a contract on counts as brokerage, and licensed brokerage firms are barred from wholesaling.
Your right to back out
Seven states give sellers a set number of days to cancel
In these states a seller can cancel a wholesale contract within a fixed window, for any reason. The length depends entirely on the state line.
Oklahoma2 business days
Connecticut3 business days
Oregon3 business days
Rhode Island3 business days, from 2027
Louisiana5 days
Delaware21 days
Pennsylvania30 days
Several more states, including Arizona, Iowa, Maryland, Missouri, Ohio, and Wisconsin, let the seller cancel any time before closing if the wholesaler skipped a required disclosure. Check your state below for the exact rule.
Worth knowing
Some of what's published about these laws is wrong
North Carolina's House Bill 797 is widely reported as taking effect October 1, 2025. It passed the House and has sat in a Senate committee since May 2025. It is not law.
Missouri's new law is often described as requiring a disclosure 14 days before closing. The statute requires it at least 14 calendar days before entering into the contract, which is a much earlier point in the deal.
California, Florida, Georgia, and New York have no wholesaling-specific law. California's bill died in committee, Georgia cut its wholesaling section before the bill passed, and bills in New Jersey and Michigan are pending.
If you're selling
One question to ask any cash buyer
Ask: "Will you close on this house yourself, or might you assign the contract to someone else?" A straight answer in writing tells you what you're signing, whatever your state requires. Then compare more than one offer before you sign anything.
No license required under current law; the 2023 act expressly allows a buyer to assign or offer to assign an equitable interest in single-family residential property for a fee if the required written disclosures are made.
What the seller must be told
Buyer must disclose in writing to the seller (1) its intent to market its equitable interest before commencing any marketing and (2) the effective date of any assignment at least three business days before the assignment takes effect.
Right to cancel
none in statute
Other rules
Buyer must disclose in writing to any potential subsequent purchaser or assignee the nature of its equitable interest. Applies to assignment, novation, or similar transfer methods. Single-family residential property only. Violation is a Class C misdemeanor plus civil liability to the person owed disclosure equal to three times the fee received. Parties may otherwise agree by contract. Same act voids long-term unfair service agreements (right-to-list memoranda).
No wholesaling-specific rule; AS 08.88.900(a)(1) exempts an unlicensed person transacting real estate the person owns or is seeking to own, provided compensation does not include any part of a licensee commission, while acting for others for compensation is licensed activity.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
No deal-count threshold, marketing rule, or buyer-side disclosure specific to wholesaling found.
Note
No wholesaling-specific statute found as of September 30, 2026.
No license or registration required by the wholesaling statute; it imposes disclosure duties only (general broker licensing law still applies to acting for others).
What the seller must be told
Before any binding agreement, a wholesale buyer of residential real property must disclose in writing to the seller that the buyer is a wholesale buyer.
Right to cancel
No fixed period; if the wholesale buyer fails to disclose, the seller may cancel at any time before close of escrow without penalty and keep the earnest money.
Other rules
A wholesale seller (contracts to sell without holding legal title and assigns the contract) must disclose in writing to the buyer that it holds only an equitable interest and may not be able to convey title; if not, the buyer may cancel before close of escrow and receive a full earnest money refund. Residential real property means fewer than five dwelling units. Section titled unlawful practice.
No wholesaling statute; the principal broker definition covers acting for another for a fee who buys, sells, or assigns or offers to assign or otherwise deals in options on real estate, advertises, or procures prospects, and the Arkansas Real Estate Commission warns that selling or marketing real property for another for compensation without a license can violate Arkansas law.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
AREC December 2025 newsletter article (Commissioner Rittelmeyer) describes wholesaling as a leading harmful trend, cautions licensees about listing property for unlicensed wholesalers (licensee discipline possible), and notes buyers may find wholesalers cannot convey clear title. Guidance only, no rule or statute.
No wholesaling-specific statute; unlicensed brokerage is governed by the general Real Estate Law (Bus. & Prof. Code §§ 10130, 10131), and AB 1850 (2026), which would have required a real estate license to wholesale, did not pass.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
AB 1850 would have defined wholesaling, required licensure, required written disclosure to owners that the wholesaler will not take title, and required ads to state lack of title, with failure treated as substantial misrepresentation.
Note
No wholesaling-specific statute found as of September 30, 2026.
No wholesaling statute or Commission position; C.R.S. 12-10-201(6)(a) makes it broker activity to sell, offer, negotiate, or list real estate or any interest therein, or deal in options or act as an option dealer (12-10-201(4)), for compensation, while 12-10-201(6)(b)(IV) exempts a person acting on its own behalf as principal in acquiring or negotiating to acquire an interest in real estate; how these apply to contract assignment is not addressed in statute or Commission guidance.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
No deal-count threshold, marketing rule, buyer-side disclosure, or UDAP provision specific to wholesaling.
Note
No wholesaling-specific statute found as of September 30, 2026.
Registration (not a broker license) with the Department of Consumer Protection is required to act as a real estate wholesaler; $285 nonrefundable fee, two-year term, renewable; a person may also hold a broker or salesperson license.
What the seller must be told
On and after 2026-10-01, before executing a wholesale contract the wholesaler must give the prospective seller the DCP written wholesale disclosure report (statutory notice text, signed by seller and wholesaler, may be delivered electronically).
Right to cancel
3 business days (seller may cancel without reason or penalty, only returning any deposit received)
Other rules
Contract closing date may not exceed 90 days after execution unless extended in a signed writing, otherwise contract terminates automatically. Before selling or assigning the contract, wholesaler must give the third party written notice of its rights and that the wholesaler holds a future interest but not title, plus the seller's residential condition report. Seller must give wholesaler a residential condition report (20-327b). Recording a wholesale contract, notice, or lien (including a purchaser's lien under 49-92a) is prohibited; recorded items give no notice and can be released by affidavit. Violations are CUTPA unfair trade practices (42-110b). Applies to residential real property; no deal-count threshold.
Yes; persons engaged in the business of wholesaling (1-4 family residential property or a residential lot) lose the owner/buyer exemption and wholesaling is defined as real estate services requiring a Delaware real estate license, with the licensing requirement effective 270 days after enactment (2027-02-26).
What the seller must be told
The agreement of sale must prominently include Commission-approved disclosures (English, Spanish, Haitian Creole): that it is a wholesale transaction where the licensee intends to assign for a fee without taking title; right to an appraisal and to consult an unaffiliated licensee or a Delaware lawyer; the 21-day cancellation right; refund within 10 business days.
Right to cancel
21 calendar days after execution or until conveyance, whichever first; not waivable; if required disclosures are missing, seller may cancel any time before conveyance
Other rules
All payments refunded within 10 business days of cancellation notice; no damages for canceling. Wholesaling excludes assignment of sheriff, bankruptcy trustee, or partition auction bids. Real Estate Guaranty Fund cap raised from $25,000 to $50,000 per transaction and extended to unlicensed persons engaged in real estate services. Modeled on Pennsylvania law.
No wholesaling-specific rule; D.C. Code § 47-2853.161 defines a real estate broker as one who for a fee lists for sale, sells, exchanges, purchases, rents, or leases real property, and does not address contract assignment.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
None specific to wholesaling found.
Note
No wholesaling-specific statute found as of September 30, 2026.
No wholesaling statute; Fla. Stat. § 475.01(1)(a) defines a broker as one who, for another and for compensation, sells, offers, or negotiates real property or any interest in or concerning it, advertises real property of others, or procures buyers or sellers; wholesaling as principal is not specifically addressed.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
None specific to wholesaling found.
Note
No wholesaling-specific statute found as of September 30, 2026.
Not fully confirmed. We could not read the state's legislative site directly
IdahoNo specific law
License or registration
No wholesaling statute; Idaho Code § 54-2003(1)(a) exempts the purchase, option, exchange, or sale of any interest in real property for a person's own account, while § 54-2004 defines broker activity as acting for another for compensation (including options) and defines a dealer in options.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
None specific to wholesaling found.
Note
No wholesaling-specific statute found as of September 30, 2026.
Yes if done as a pattern: the Real Estate License Act defines a broker to include anyone who, whether for another or themselves, buys, sells, markets for sale, or otherwise deals in contracts, including assignable contracts, on 2 or more occasions in any 12-month period; a broker license is required (no separate wholesaler license).
What the seller must be told
No wholesaler-specific seller disclosure statute found.
Right to cancel
none in statute
Other rules
Deal-count threshold: 2 or more assignable-contract transactions in any rolling 12-month period (counted across related individuals/entities acting as partners or common owners) triggers broker licensing. Unlicensed activity is enforced by IDFPR under the Real Estate License Act (civil penalties).
Effective
2019-08-09 (P.A. 101-0357 took effect upon becoming law)
No license required to wholesale as a principal under this chapter; instead, a person without an Indiana real estate license who solicits the sale or purchase of a single-family home is an 'unlicensed real estate solicitor' subject to disclosure rules (licensed persons, builders, 501(c)(3)s, government, IC 25-34.1-3-2(b) exempt persons, and buyers who intend to take title, record the deed, and keep the home as a residence or investment are excluded).
What the seller must be told
Every solicitation (mail, sign, website, text, call, social media, etc.) must state 'This solicitation is not from a licensed real estate professional.' plus the solicitor's legal name and the legal name of the expected purchaser if different; before a written agreement, the solicitor must tell the homeowner if any disclosed information changed.
Right to cancel
2 days (homeowner may nullify by written rescission within 2 days if the solicitation disclosure did not comply)
Other rules
Marketing rule applies to all solicitation media; written disclosures must be legible and in plain sight, aural ones clear and audible. Violation is a deceptive act enforceable by the Attorney General under IC 24-5-0.5-11. Applies to agreements entered or renewed after 2024-06-30. No assignment-fee disclosure or deal-count threshold found in statute.
Yes: a person must be licensed as an Iowa real estate broker, or be represented by a licensed broker, to engage in wholesaling of 1-4 unit residential property.
What the seller must be told
Before executing a purchase contract or conveying the equitable interest, the wholesaler must disclose in writing to all parties the legal identities of all parties and an explanation of wholesaling (holds only an equitable interest and may not be able to convey title), and give a copy of the executed agency agreement; rule 193E-22.2 adds titleholder/licensee identities, profit disclosure, and required statement 'This transaction constitutes real estate wholesaling, meaning the wholesaler holds only an equitable interest in the property and may not be able to convey title.'
Right to cancel
Seller or buyer may cancel any time before closing without penalty (and keep earnest money) if the disclosure was not made; no general cooling-off period
Other rules
Buyer-side disclosure required (all parties). Civil penalty up to the greater of $10,000 or 10% of the sale price per property. Real Estate Commission rules at 193E-22.2 (ARC 9252C, effective 2025-06-18).
No wholesaler-specific license requirement found; general Kansas broker licensing (acting for another for compensation) applies.
What the seller must be told
No wholesaler-specific seller disclosure statute found.
Right to cancel
none in statute
Other rules
None found specific to wholesaling.
Note
No wholesaling-specific statute found as of September 30, 2026.
Source
. Retrieved 2026-09-30.
Confidence
Checked; see how we researched this
KentuckyHas a law
License or registration
Yes for public marketing: KRS 324.010 defines real estate brokerage to include advertising for sale an equitable interest in a contract for purchase of real property, and KRS 324.020 makes it unlawful for an unlicensed person to advertise such an interest for sale.
What the seller must be told
No wholesaler-specific seller disclosure statute found.
Right to cancel
none in statute
Other rules
Marketing limit: unlicensed persons may not advertise an equitable interest for sale; no deal-count threshold. Enforcement under KRS Chapter 324 (Kentucky Real Estate Commission).
Effective
2023-06-29 (general effective date for 2023 regular session acts)
Act 807 sits in the Real Estate License Law but does not require a wholesaler to hold a license; it prohibits a wholesaler from claiming a license they do not hold.
What the seller must be told
Before each contract, the wholesaler must prominently disclose in writing: intent to assign/sell the contract rights for a higher price or market them for gain; that the seller should seek legal advice; and that the seller may cancel for any reason without penalty for at least 5 calendar days.
Right to cancel
5 calendar days (after the later of seller or wholesaler execution); contract must carry a statutory 'NOTICE REQUIRED BY LOUISIANA LAW' cancellation notice plus the LREC cancellation form; noncompliant contracts are voidable by the seller any time before transfer of title
Other rules
Defines wholesaling to include double closings without the buyer's own funds; marketing contract rights creates a presumption of wholesaling. Bans acting as seller's advisor, false license claims, and clouding title (liens, recorded memoranda). Deposit of at least 1% of price held in seller account or in-state escrow. Violations are unfair trade practices (AG) and LREC violations; civil penalty up to $5,000 per violation. Applies to 1-4 unit residential.
No wholesaler-specific license requirement found; 32 M.R.S. 13001 defines brokerage as services on behalf of another for compensation, so a principal assigning its own contract is not expressly covered.
What the seller must be told
No wholesaler-specific seller disclosure statute found.
Right to cancel
none in statute
Other rules
None found specific to wholesaling.
Note
No wholesaling-specific statute found as of September 30, 2026.
No license required by this law; it is a disclosure and rescission statute.
What the seller must be told
Before entering a contract, a wholesale buyer must disclose in writing to the owner that it may assign the contract; before assigning, a wholesale seller must disclose in writing to the assignee that it holds an equitable interest and may not be able to convey title.
Right to cancel
Owner may rescind without penalty any time before closing if the wholesale buyer failed to give the notice and assigns the contract; no general cooling-off period
Other rules
Applies only to owner-occupied residential property (4 or fewer single-family units) per the codified definitions. Buyer-side (assignee) disclosure required; assignee may rescind before closing and get its deposit back if not disclosed. Contracts of sale must comply (added to Real Prop. 14-117(e)(24)). Does not apply to Md. Rule 14-215 sales. Prospective only.
No wholesaler-specific license requirement found; general broker licensing under M.G.L. c. 112 applies to acting for another.
What the seller must be told
No wholesaler-specific seller disclosure statute found.
Right to cancel
none in statute
Other rules
None found specific to wholesaling.
Note
No wholesaling-specific statute found as of September 30, 2026.
Source
. Retrieved 2026-09-30.
Confidence
Checked; see how we researched this
MichiganNo specific law
License or registration
No wholesaler-specific license requirement currently in law; general licensing under MCL 339.2501 et seq. applies to acting for others.
What the seller must be told
No wholesaler-specific seller disclosure statute in force.
Right to cancel
none in statute
Other rules
None in force.
Note
No wholesaling-specific statute found as of September 30, 2026.
Source
. Retrieved 2026-09-30.
Confidence
Checked; see how we researched this
MinnesotaPartial rules
License or registration
No wholesaler-specific rule, but Minn. Stat. 82.55 subd. 19 presumes a person is in the business of selling real estate (broker license required) if the person engages as principal in 5 or more transactions in any 12-month period, unless represented by a licensed broker or salesperson.
What the seller must be told
No wholesaler-specific seller disclosure statute found.
Right to cancel
none in statute
Other rules
General principal-dealer threshold: 5 or more principal transactions in 12 months presumptively requires licensing (avoidable by using a licensed broker). Not written for wholesaling specifically.
No wholesaler-specific license requirement in force; general broker licensing under Miss. Code 73-35-3 applies.
What the seller must be told
No wholesaler-specific seller disclosure statute in force.
Right to cancel
none in statute
Other rules
None in force.
Note
No wholesaling-specific statute found as of September 30, 2026.
Source
. Retrieved 2026-09-30.
Confidence
Checked; see how we researched this
MissouriHas a law
License or registration
No license required by this law; it is a disclosure statute under the Merchandising Practices Act (general licensing under RSMo 339.010 applies to acting for another).
What the seller must be told
At least 14 calendar days before entering a contract that transfers an interest in 1-4 unit residential property, the wholesaler (as grantee) must give the record owner a separate written disclosure in at least 12-point bold with statutory text (wholesaler does not represent owner, may assign without owner consent, may charge the end buyer a fee, price may be below market), signed and dated by both; no binding contract until signed.
Right to cancel
Owner may cancel any time before close of escrow without penalty if the disclosure was not made (earnest money disbursed to owner within 30 days); no general cooling-off period
Other rules
Wholesaler defined to cover assignments or novations as grantee, or as grantor without legal title; excludes assignments to relatives within 3rd degree and to affiliates. Cannot be waived. Violation is an unlawful practice under the Missouri Merchandising Practices Act; private right of action; Attorney General may seek damages, injunction, attorney fees.
No wholesale-specific license or registration statute; general broker definition in MCA 37-51-102(4) is unusually broad (covers anyone who 'for another or for valuable consideration or who with the intent or expectation of receiving valuable consideration' negotiates a sale), so unlicensed marketing of properties carries risk.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
None wholesale-specific. General unlicensed-activity rules under MCA Title 37 ch. 51 apply.
Note
No wholesaling-specific statute found as of September 30, 2026.
Yes: acting as a broker/salesperson includes publicly marketing for sale an equitable interest in a contract for the purchase of real property (other than a vacant lot) between a property owner and a prospective purchaser, so a real estate license is required.
What the seller must be told
None in statute (no wholesale-specific seller disclosure found).
Right to cancel
none in statute
Other rules
Equitable interest is expressly not an ownership interest for the owner exemption (81-885.04(1)). Single act is sufficient (81-885.03). Director may issue cease and desist; commission fine up to $1,000 per day of unlicensed activity after order or all money earned, whichever greater. Vacant-lot exclusion added by LB187 (2025).
Effective
LB892 (2022); LB187 vacant-lot amendment 2025 (bill has emergency clause, approved March 11, 2025)
No wholesale-specific license or registration statute; general broker definition (NRS 645.030) requires acting 'for another', so assigning one's own contract interest is not expressly covered, but marketing the property itself risks unlicensed activity.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
None wholesale-specific. General unlicensed-activity rules in NRS 645 apply.
Note
No wholesaling-specific statute found as of September 30, 2026.
No wholesale-specific license or registration statute; RSA 331-A:2 broker definition applies to persons acting for another for compensation (or licensees acting on own behalf).
No current statute; broker definition in N.J.S.A. 45:15-3 applies. Pending A4278 (2026) would require a broker or salesperson license for any wholesale transaction.
What the seller must be told
None in current law. A4278 would require contract statements (wholesale transaction notice, right to appraisal/counsel, cancellation right).
Right to cancel
none in statute (A4278 proposes 30 days or until conveyance)
No wholesale-specific license or registration statute; NMSA 61-29-2 broker definitions cover acts done for compensation 'for others', so assigning one's own contract interest is not expressly covered.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
None wholesale-specific. General unlicensed-activity rules in NMSA 61-29 apply.
Note
No wholesaling-specific statute found as of September 30, 2026.
No statute yet; NCREC guidance says a bona fide buyer may assign contract rights without a license, but soliciting sellers with no intent to buy, negotiating between seller and buyer, handling third-party deposits or marketing beyond the assigned contract can be unlicensed brokerage (Class 1 misdemeanor).
What the seller must be told
None in statute. Pending HB 797 would add seller protections.
Right to cancel
none in statute (HB 797 proposes 30 days, non-waivable)
Other rules
HB 797 (Residential Property Wholesaling Protection) would make residential wholesaling brokerage under Chapter 93A (new Article 8), 30-day cancellation and 10-business-day refund.
No license required by the wholesale statute; general license law applies to brokerage for others.
What the seller must be told
Wholesaler must disclose in writing to all parties that it holds only an equitable interest, may not be able to convey title, and intends to profit from transferring the equitable interest.
Right to cancel
none in statute (but seller may cancel before close of escrow if disclosure not made)
Other rules
If violated, seller may cancel before close of escrow and keep wholesaler earnest money; buyer may cancel and get full refund. HB 1125 (2025) expanded from residential (under 5 units) to all real property.
Effective
Section originally enacted 2023 (reported Aug 1, 2023); HB 1125 amendment effective Aug 1, 2025 (signed Apr 8, 2025)
No license required by the statute; it regulates any wholesaler (grantee or grantor that assigns or novates a residential purchase contract for consideration); failure to comply is also grounds for discipline of licensees (ORC 4735.18(A)(40)).
What the seller must be told
Before a binding contract, wholesaler (grantee) must give record owner a separate, signed and dated, boldface 12-point disclosure stating it is a wholesaler, does not represent owner, may assign for profit without owner consent, may charge buyer a fee, price may be below market value, and owner may seek legal advice.
Right to cancel
none in statute if disclosure given; if not given, owner may cancel any time before close of escrow without penalty
Other rules
Applies to 1-4 unit residential. Earnest money disbursed to owner within 30 days after cancellation. Duties and remedies non-waivable. Violation is an unfair or deceptive act under CSPA (ORC 1345.02); private action under 1345.09 and AG enforcement. Excludes assignments to blood relatives and affiliates.
Yes: publicly marketing for sale an equitable interest in a purchase contract without an active Oklahoma real estate license is prohibited (HB 1148, 2021).
What the seller must be told
Before any contract, wholesaler must disclose in writing intent to assign/sell equitable interest for a higher price; contract must prominently advise homeowner to seek legal advice and state the right to cancel; contract must include wholesaler name/address/phone, property address, total consideration, payment terms, services, and a 12-point bold statutory cancellation notice plus OREC cancellation form.
Right to cancel
2 business days after execution, without penalty
Other rules
Wholesaler may not act as advisor or represent it acts for homeowner, or claim licenses it lacks; may not record caveats or liens against title; earnest money must be held in an Oklahoma federally insured escrow account; missing required contents make contract invalid and unenforceable by wholesaler and homeowner gets earnest money. Covers double closings. Unlicensed activity penalties under license code (reported up to $5,000 per violation and/or 6 months).
Effective
Nov 1, 2021 (license, HB 1148); Nov 1, 2025 (disclosures, SB 1075)
Yes: must register with the Real Estate Agency as a residential property wholesaler (one act suffices); licensed brokers are exempt if they give proper written disclosure.
What the seller must be told
Written disclosure (10-point bold) to potential buyers and sellers before contract, to licensees assisting either side, and in all advertising: is a wholesaler, holds only an equitable interest, lacks legal title, may not be licensed broker or appraiser.
Right to cancel
3 business days after receipt of the disclosure, non-waivable; if disclosure not given to seller, seller may terminate any time and keep earnest money
Other rules
Wholesaling = marketing residential property with only equitable interest/option held under 90 days and under $10,000 invested. Registration individual only, fee up to $300. Knowing violation Class A misdemeanor; civil penalty $1,000-$2,500 first offense for unregistered activity; cease and desist orders. Rules OAR 863 div. 17.
Effective
July 1, 2025 (operative; applies to contracts on or after that date)
Yes: 'broker' includes any person who, for self or another, engages in a wholesale transaction (promoting sale of an equitable interest in 1-4 unit residential property to assign for a fee without taking title), so a real estate license is required; owner exclusion does not apply to wholesale transactions.
What the seller must be told
Contract must prominently state it is a wholesale transaction, that consumer may get an appraisal, consult an unaffiliated licensee or counsel, the cancellation right, and 10-business-day refund; manner set by commission regulation.
Right to cancel
30 days after execution or until conveyance, whichever first, non-waivable; if required info missing, cancel any time before conveyance
Other rules
Refund all payments within 10 business days after cancellation; consumer not liable for damages for cancelling. Unlicensed activity subject to RELRA penalties.
Effective
January 4, 2025 (180 days after July 8, 2024 approval)
Yes; no person may enter into a wholesale contract or assignment contract unless they hold an active RI real estate license (or qualify for a 5-20.5-2 exemption), and broker definition now covers securing/assigning equitable interests for gain more than once in any 12 months.
What the seller must be told
Before contracting, wholesaler must disclose in writing to the owner that it may assign the contract for a fee; buyer/assignee must be told in writing wholesaler holds only an equitable interest, not legal title.
Right to cancel
3 business days (excl. weekends and holidays) for seller on wholesale contract and for buyer on assignment contract; non-waivable; if required disclosures are missing, seller or buyer may cancel any time before consummation
Other rules
Threshold: more than once in 12 months. Transfer/assignment cannot occur until cancellation period expires. Assignment contract may not bar assignee from using own closing attorney, settlement agent or title provider. Fines $500 first offense, $1,000 each subsequent; civil liability of 1x to 3x the fee/profit received. Exemption for DBR-licensed/registered builders, developers, contractors on vacant land/new construction; owner exemption does not apply to sale of an equitable interest.
Yes for marketing; 'wholesaling' (having a contract to buy residential property then marketing the property to another buyer before taking title) falls under broker licensure, and licensed brokerage firms and their subagents are prohibited from engaging in or assisting wholesaling.
What the seller must be told
None in statute specific to wholesalers.
Right to cancel
none in statute
Other rules
Statute says merely assigning or offering to assign a contract is not itself wholesaling, but SC Real Estate Commission advisory opinion (Nov 14, 2024) holds an assignment IS wholesaling if the property is marketed/advertised with expectation of compensation; 40-57-135 allows marketing a 'contractual position' only if it does not imply or market the underlying property, and REC says including photos, address, bed/bath, condition, neighborhood, etc. likely violates it. Marketing includes MLS, social media, email groups, verbal. Unlicensed practice penalties under Title 40 ch. 57.
No wholesaler-specific license or registration; general broker licensing (SDCL ch. 36-21A) applies if one acts for others for compensation.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
None specific to wholesaling.
Note
No wholesaling-specific statute found as of September 30, 2026.
Source
. Retrieved 2026-09-30.
Confidence
Checked; see how we researched this
TennesseeHas a law
License or registration
No; statute does not require a license to assign, but general broker definition (Tenn. Code Ann. 62-13-102) still applies to brokerage activity.
What the seller must be told
Before executing the contract, buyer must disclose in writing to the seller its intent to market its equitable interest, and must give the seller the effective date of any assignment at least 3 business days before it takes effect; disclosures must be in bold, large font in the written agreement.
Right to cancel
none in statute
Other rules
Buyer-side: must disclose the nature of its equitable interest in writing to any potential subsequent purchaser/assignee. Wholesaling defined as assigning equitable interest to a subsequent purchaser for a higher price. Action for violation must be commenced within 2 years after contract execution. No specific fine schedule in the act.
Effective
2025-04-08 (signed; TN bill page lists effective 03/25/2025; act says effective upon becoming law)
No license needed to sell an option or assign a contract if the person does not use it to engage in brokerage and discloses in writing the nature of the equitable interest; failing to disclose makes the activity real estate brokerage (license required).
What the seller must be told
Yes; written disclosure of the nature of the equitable interest to any seller (added by SB 1577, eff Jan 1, 2024).
Right to cancel
none in statute
Other rules
Buyer-side: written disclosure of the equitable interest to any potential buyer (Occ. Code 1101.0045); Property Code 5.086 requires, before entering a contract, disclosure to any potential buyer that the person is selling only an option/assigning a contract and does not hold legal title. Unlicensed brokerage penalties under Occ. Code ch. 1101.
No statute specific to wholesaling; Division of Real Estate guidance says an unlicensed person who, as a business model, puts properties under contract to sell/assign the contracts for profit is engaged in unlicensed real estate activity under Utah Code 61-2f.
What the seller must be told
None in statute; for licensees, Division lists required disclosures (licensee status, principal in transaction, written permission to market).
Right to cancel
none in statute
Other rules
Division warns licensees wholesaling cannot represent the seller while holding the buyer interest; cites rules R162-2f-401a/401b/401h and 61-2f-306 (state-approved forms). Guidance, not statute.
No wholesaler-specific license; general broker definition (26 V.S.A. 2211) covers selling or offering to sell any interest in real estate for another by a continuing course of conduct.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
None specific to wholesaling.
Note
No wholesaling-specific statute found as of September 30, 2026.
Source
. Retrieved 2026-09-30.
Confidence
Checked; see how we researched this
VirginiaHas a law
License or registration
Yes if 2 or more deals: 'real estate broker' includes anyone who for compensation sells, buys, negotiates or otherwise deals in real estate contracts, including assignable contracts, on two or more occasions in any 12-month period.
What the seller must be told
None in statute specific to wholesalers.
Right to cancel
none in statute
Other rules
Deal-count threshold: 2+ in any 12 months. Otherwise general DPOR/Real Estate Board unlicensed activity rules.
No wholesaler-specific license; general brokerage definition (RCW 18.85.011) covers listing, selling, optioning or negotiating any real property interest for another for compensation.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
None specific to wholesaling.
Note
No wholesaling-specific statute found as of September 30, 2026.
Source
. Retrieved 2026-09-30.
Confidence
Checked; see how we researched this
West VirginiaNo specific law
License or registration
No wholesaler-specific license under current law (W. Va. Code ch. 30, art. 40 real estate license act).
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
None enacted.
Note
No wholesaling-specific statute found as of September 30, 2026.
Source
. Retrieved 2026-09-30.
Confidence
Checked; see how we researched this
WisconsinHas a law
License or registration
No wholesaler-specific license; but broker definition covers anyone in the business of selling interests in real estate once a pattern is established, and 5 sales/exchanges in one year or 10 in 5 years is presumptive evidence of a pattern (Wis. Stat. 452.01(2)(b)).
What the seller must be told
Yes; no later than entering the purchase agreement, written notice to the seller that the buyer is a real property wholesaler (residential 1-4 units).
Right to cancel
Seller may rescind any time before closing if the seller disclosure was not timely given (seller keeps deposits/option fees); assignee may rescind before closing if assignee disclosure not given (deposits refunded); rights not waivable, end at closing
Other rules
Buyer-side: no later than the assignment contract, written notice to the assignee that assignor is a wholesaler holding an equitable interest and is conveying the contract interest, not title. Escrow holder may disburse deposits on rescission without liability (2025 Act 60). Licensees who violate 710.13(2) are subject to discipline (452.14(3)(im)); Act 208 also raised licensee forfeitures and unlicensed-practice fines to up to $5,000.
Effective
2024-03-24 (applies to agreements entered on/after that date); 710.13(3)(c) added eff 2025-12-11
No wholesaler-specific license; general broker licensing under W.S. 33-28 applies to brokerage for others.
What the seller must be told
None in statute.
Right to cancel
none in statute
Other rules
None specific to wholesaling.
Note
No wholesaling-specific statute found as of September 30, 2026.
Source
. Retrieved 2026-09-30.
Confidence
Checked; see how we researched this
Download the full dataset: wholesaler-laws-2026.csv (free to use with credit to FrontPorchOffers).
How we researched this
Sources: For every state we looked for a wholesaling statute, a license-law provision covering assignable contracts, or written guidance from the state real estate regulator. A law is listed only when we found it in the state's own statute text, the enacted bill, or the regulator's own page. News articles and law-firm posts were used only to find laws, never as the source.
What "no specific law" means: We searched the state legislature's site and the real estate commission's site and found no wholesaling-specific statute as of September 30, 2026. General real estate license laws still apply everywhere, and a regulator can treat some wholesaling activity as unlicensed brokerage.
Confidence: Each state shows whether we confirmed it in the primary text. Hawaii is marked not fully confirmed because the state's legislative site blocked our access.
Limits: Laws change. Effective dates, rules, and pending bills are as of September 30, 2026. This page is information for homeowners and reporters, not legal advice. Talk to a real estate attorney in your state before relying on any of it.
Corrections: If we got a state wrong, email frontporchoffers@gmail.com with the citation and we will fix it and note the change.