Do You Need A Real Estate License To Wholesale In Florida
Olivia Luz
It depends on how the wholesaling is done.
In most cases the answer is no. You are not supposed to act in that capacity arranging sales for another however. The legal way to do it is to close on the property and then resell it. Take the pre license course.
To return to the subject here are a few situations where you may want to get your real estate license. Hence you should always have an investor friendly real estate attorney that can advise you. In addition if you put a property under contract without both the intent and the ability to close on it you could be charged with fraud in the inducement. Wholesaling homes is not illegal per se.
But if you acquire an equitable interest in a property by contract that gives you the opportunity to sell your interest without a license. Compared to other real estate fields it also requires less of an initial financial investment. This is the case because it does not require a real estate license or any educational requirements. You just need to be the principal buyer or seller in the respective transaction.
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Wholesaling can be risky and can subject you to criminal and civil liability if it is not done with proper disclosure or if it amounts to an illegal flip. Subsequently laws change frequently. You need to speak to a qualified real estate attorney do assist you in complying with the law. Selling real estate requires a passion for people and properties and it also requires a license.
As you learn to wholesale real estate you will begin to realize if you re cut out for it or not. Real estate brokerage is an activity regulated by states on their own terms thus each state defines which activities require a license. Check with a lawyer but you can buy and sell on your own without a license. If you are a licensed real estate agent however you need to disclose as much possible.
The answer is simple. In every state i know of you must have a real estate license to market properties that you don t own.
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