Before anybody pulls a list, calls a seller or sends a contract, read this entire post. Virtual wholesaling does not mean regulation free. You can live in Canada, Florida, Texas or anywhere else. The laws where the PROPERTY is located control the transaction. There is no single contract, disclosure or process that works in every state. THE RULE EVERY STUDENT MUST UNDERSTAND Wholesaling generally means entering into a legitimate purchase contract as the buyer and transferring your contractual rights when the contract and state law allow it. You are not automatically licensed to advertise or sell somebody else’s property. You must accurately explain whether you own the property, hold an equitable interest or intend to assign your purchase rights. Calling yourself a cash buyer does not eliminate licensing, disclosure, cancellation, advertising or telemarketing laws. Changing an assignment into a double closing does not automatically escape a state’s wholesaling law. STATES WHERE YOU SHOULD NOT START WITHOUT A LEGAL REVIEW Connecticut Registration is required before acting as a wholesaler. The company must register and at least one individual who signs contracts for the company must also register. The official state disclosure must be delivered before the purchase contract. The seller receives three business days to cancel. A condition report is required before contracting. The closing date generally cannot be more than 90 days away unless a written extension is signed. Canadian students should not enter Connecticut until their registration eligibility is confirmed. The application currently requests a United States Social Security number. Oregon You must hold an Oregon residential wholesaler registration or an applicable real estate license. Disclosure is required to sellers, buyers and participating brokers. Wholesale property advertising must include the required disclosure. Social media may link to a separate disclosure page when properly structured. The seller and buyer receive cancellation protections.