I think I know why Ohio is cracking down on wholesalers, and perhaps other states will follow.

[Wayne Brooks]

I got a copy of an Ohio wholesaler's purchase contract the other day.  In addition to all the other one sided terms, these three stuck out.

60 day due diligence/inspection period

Closing to be120 days after end of DD period (180 days)

EM, $1,000 promissory note

What a f'ing joke.  People really sign this kind of crap?  This probably rises to the level of being predatory, so it's no surprise regulators are cracking down.  Wholesalers using these kinds of contracts are forcing regulators to do something.