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Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 6849
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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I found out about being a wholesaler, where I put a property

Customer Question

I found out about being a wholesaler, where I put a property under contract and assign it to a buyer for a fee. I have been doing some research and I found out that it is illegal to do it without a real estate license. Could you give me more details about this and how can I make it work? If I have to get the license, how can I do it? If I don't have to, how I deal with the contracts so it is not illegal. Please, help.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Irwin Law replied 1 year ago.
You do NOT need a license to buy or sell real estate for yourself. You must have an interest in the property personally and cannot be representing others. In other words you need an agreement to purchase the property in your own name. Then that agreement is assigned to another person who pays you money for it. That is not a commission that requires a real estate license.
Expert:  Irwin Law replied 1 year ago.
HELLO AGAIN. I hope that my Answer has been helpful. If you need more information, please send me a Reply. If not, I hope that you will enter a positive rating for my Answer so that I can receive credit for assisting you. Thanks again for using JUST ANSWER.

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