How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Law Educator, Esq. Your Own Question

Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 89994
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
10285032
Type Your Real Estate Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

I have a legal question to ask. Is house flipping legal in

Customer Question

I have a legal question to ask. Is house flipping legal in Illinois and Wisconsin? Do I legally need to be a real estate agent in Illinois and Wisconsin to do house flipping if I want to sell (transaction activities) if I buy a home, own it, and than resell it myself without a real estate agent in Illinois and Wisconsin?  Can I do Whole sale (buying at a low price and reselling for a higher price without renovating or rehabbing) and Retail house flipping in Illinois and Wisconsin? Can I legally buy a home with city violations, back taxes, quit claim deed, and any other problems the property has and then can I legally resell it at a higher price with the same city violations, back taxes, quit claim deed, and problems the property has, if I disclose all of this to the buyer before they purchase the property, without renovating or rehabbing the property. Is all this legal to do in Illinois and Wisconsin?

Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking.

House flipping is legal in IL as well as WI and there are no laws prohibiting it. However, if you are going to engage in the business of selling houses after you fix them, you will have to obtain a real estate license if you want to sell without any other agent involved.

You can buy homes in bulk, but would need a contractor's license to make the repairs or would need to hire licensed contractors to do the work. You can also sell without doing any rehab on the house. This is legal in both WI and IL.

All of what you want to do above is legal in IL and WI, but selling of houses does require a real estate license and if you are going to get into doing this it should not be very difficult for you to obtain your real estate license.



Thank you so much for using JustAnswer.com. I truly aim to please you as a customer, but please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered. PLEASE use REPLY to EXPERT if you would like more information or if you feel something was not included in your answer.

Kindly remember the ONLY WAY experts receive any credit at all for spending time with customers is if you click on OK, GOOD or EXCELLENT SERVICE even though you have made a deposit or are a subscription customer. YOU MUST COMPLETE THE RATING FOR THE EXPERT TO RECEIVE ANY CREDIT, if not the site keeps your money on deposit.

Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.

Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 89994
Experience: Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
Law Educator, Esq. and 2 other Real Estate Law Specialists are ready to help you
Customer: replied 1 year ago.

Would I still need a real estate license to sell homes on my own behalf, if I only do house flipping in Illinois? If I buy the homes on my own, without a real estate agent, and then sell the homes I own, doing this on my own behalf, without a real estate agent, do I still legally need a real estate license if I doing house flipping in Illinois? If I own the homes, can I sell and buy them on my own behalf, without a real estate agent?

Expert:  Law Educator, Esq. replied 1 year ago.
Yes, if you are in the business of selling houses (selling more than 2 in a year) then you would need a real estate license, even selling homes you own on your own behalf in IL or WI.
Customer: replied 1 year ago.

Do I need to own the home to sell it on my own behalf 2 times a year? Can I sell homes 2 times a year or do selling activities even if I don't own the home I sell?

Expert:  Law Educator, Esq. replied 1 year ago.
You need to own it and live in it for at least a short time before selling it for it to be considered a personal sale. If the department of revenue sees you selling houses regularly and you are not living in them (at least while renovating them) they will prove you are in the business of selling houses and make you get a broker's or real estate license. If you do not own the homes you sell, you will need a broker's or real estate license even if you sell 1 home a year.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • Tina

    Lawyer

    Satisfied Customers:

    4813
    16 years of legal experience including real estate law.
< Last | Next >
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    4813
    16 years of legal experience including real estate law.
  • http://ww2.justanswer.com/uploads/LA/lawpro/2012-6-25_171315_PT206740s.64x64.jpg Law Pro's Avatar

    Law Pro

    Lawyer

    Satisfied Customers:

    6227
    20 years extensive experience in real estate law, foreclosure, finance, and landlord tenant law.
  • http://ww2.justanswer.com/uploads/BA/barristerinky/2012-6-10_22423_office.64x64.jpg Barrister's Avatar

    Barrister

    Lawyer

    Satisfied Customers:

    4966
    13 years real estate, Realtor. Landlord 24+ years
  • http://ww2.justanswer.com/uploads/LA/LawTalk/2012-6-6_17379_LawTalk.64x64.JPG LawTalk's Avatar

    LawTalk

    Attorney

    Satisfied Customers:

    4446
    I've more than 27 years legal experience. Additionally, in CA I held a Real Estate Broker's license.
  • http://ww2.justanswer.com/uploads/RA/rayanswers/2012-6-7_23346_Untitled1.64x64.jpg Ray's Avatar

    Ray

    Lawyer

    Satisfied Customers:

    4030
    Texas Attorney for 29 years dealing in real estate
  • http://ww2.justanswer.com/uploads/PH/philip.simmons/2012-6-7_161915_BIGPhilipSimmons.64x64.jpg P. Simmons's Avatar

    P. Simmons

    Lawyer

    Satisfied Customers:

    2377
    12+ yrs. of experience including real estate law.
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    2355
    B.A.; M.B.A.; J.D.