Is it illegal to wholesale in N.C.?

[Oliver Austen Warren]

Is it illegal to wholesale real estate in the state of N.C.? Any help on this issue will be appreciated I have a couple of cold call I would love to make, but I want to make sure I’m not breaking the law. Thank you V/r Oliver Warren

[Stacey C.]

@Oliver Austen Warren No.

[Oliver Austen Warren]

@Stacey Cook Thank you!

[Blair Poelman]

If you're asking this question you likely don't understand the local laws - so you really should consult with a local attorney who can advise you on your strategy.  One of the many "#1 rules" of this game is Don't get involved in a deal you don't understand.  Another #1 rule is Don't break the #1 rules.

There are endless ways to "wholesale" a property, so a simple "YES" or "NO" is not a sufficient answer to your question.   Depending on how you do your specific deal, it might be legal - or it could be totally and blatantly illegal and you could be screwing yourself good and hard.

[Wayne Brooks]

Read your state real estate law statutes.....that’s the only “opinion” that matters.  some states specifically speak to assigning and marketing properties you don’t own, like FL does, some don’t.

[Oliver Austen Warren]

Thank you all for your help! I will get reading and talk to both my base legal and civilian legal council.

[Michael Glaspie]

No, it is not illegal. It is common practice. I would ensure that you have an attorney approved Purchase contract that has the assignable clause. But make those calls and make those deals!

[Ken Yu]

Only concern is that the standard NC contract has a clause that forces the sellers to sign off on all assignments. Could run into trouble there. Might be more beneficial to use a different document or have the seller/seller attorney agree to strike that clause at the get go. 

But as others have said, assignments are viable in NC.