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Updated over 10 years ago on . Most recent reply
Legal question on whole saling in connecticut
i just realized that when i start wholesaling, that the entire process can look like brokering a deal without a license. Even though I'm technically assigning contracts i.e. assigning my interests to someone else, of which is legal. That is, I'm not finding a buyer for the seller, I'm finding a buyer for ME. For me because I'm assigning my interests.
But at any rate, can my assignment fee be construed as consideration for brokering a deal when in reality I'm assigning my equitable interests in the property? And if it can be construed as such, how is this sorta thing circumvented in Connecticut? Am i required to use a licensed broker on each deal?