IS Wholesaling Illegal in Orange County, California?

[Andrew Khiev]

Greetings!

Lately I've been doing a lot of research regarding the topic of wholesaling and if it's illegal due to the different claims of it being considered brokering. Though assigning the contract and double closing are two methods frequently used to wholesale properties, which method would be suitable in the market of OC? IS assigning the contract illegal and considered as practicing as a broker?  Should I just play it safe and double close, take title, than close with the buyer? There many answers being thrown on both sides of spectrum that are against and for the "possibility" of wholesaling being illegal. Any kind of insight and advice would help a lot! Cheers!

[Aaron Mazzrillo]

This question has been addressed hundreds of times on this site. I'm no lawyer, but I can assure you wholesaling, or assigning contracts is not illegal in California. Double closes are a waste of time and money. The only person who benefits is the escrow officer who gets to double dip on the same transaction.