Legal Question

[Johanna Anderson]

I just got licensed as a realtor in Maryland, and I am working under a broker. Therefore, it stands to reason that in the state of Maryland, it wouldn't be legal for me to wholesale properties.

I am not, however, licensed in DC or Virginia. It stands to reason, I think, that it would be perfectly legal for me to do wholesale deals in these areas without even telling my broker about it.

Is my reasoning on track?

Thanks!

[Russell Brazil]

You should make your broker aware of all your real estate activities. Any real estate activity you are involved in creates a certain level of liability for your broker even if it is across the border. I personally have not explored whether wholesaling is legal or not, or whether a licensed individual or not. Many people on here will swear up and down that is is acceptable. ...but really the only one who give you a legitimate answer is the real estate commission overseeing the jurisdiction where it is. I would call them as well before wholesaling....or contact GCAAR. Both are more than happy to answer questions.