Is wholesaling legal in Alabama

[Kenneth Jenkins]

Recently, I ran across information about Wholesaling, and I took an immediate interest in it. I have learned a lot about it through blogs youtube and google searching so far and can say that my interests has grown even more. I am interested in possibly beginning wholesaling in Alabama, but I am new to the real estate world and have very little information about Real estate in the state of Alabama, especially when it comes to wholesaling. Can anyone let me know if it’s legal to practice wholesaling in Alabama? And can anyone provide more information about wholesaling based off experiences? 

[Karen Rittenhouse]

@Kenneth Jenkins

Wholesaling is legal everywhere because you buy it and then you sell it. You don't need a license to sell anything that you own personally, only when assisting someone else in buying or selling. A lot of people think wholesaling is illegal because they confuse wholesaling with assigning. Assignment is NOT legal in every state.

Wholesaling- you buy properties cheap, sell cheap, and sell fast with little or no money out of your own pocket.

Assignment – finding a deal, putting it under contract, then selling that contract to someone else. With an assignment, you never actually own the property – you never go on title.

Check with your local attorney for all real estate questions and contracts because laws differ in all 50 states.