Ohio wholesaling

[Jason McGloin]

Hello fellow OH BP.  While I've not done anything with wholesaling, its status in OH is still interesting.  Here is a pretty good video with NREIA and Division of Real Estate discussing it.OH Wholesaling video

[Jason McGloin]

No one says its legal to advertise property you don't own.  However, the Ohio Department of Commerce Division of Real Estate does say that posting an add to sell and assign your legal interest in a contract and posting a description of what that contract covers IS legal.  In the video linked in the first post at around time stamp 7:03 is where this section begins and then at about 10:00 is a very clear example given where (not verbatim) "For Sale Contract on 3/2 2400sqft in Shaker Heights" is agreed to be permissible.  Again the big point that is driven home is that the seller of the contract has to have every intent (and be able to prove it) to close when the time comes or walk away from the earnest money, be sued or both.