Wholesaling age requirement?

[Ricky Cover]

So I am currently 17 and will not be 18 until April but I have been researching wholesaling for about 4 months now I have become obsessed with wholesaling and real estate in general but I cannot find somewhere that says you have to be 18 to put a house under contract anywhere so I thought it would be a good idea to see if anyone in here knows, thank you a response would be great.

[Jay Kennedy]

Good question! I had never really thought about it. It’s a legal question and unless you’re an attorney you’re not supposed give any legal advice.

So, this is not advice coming from me but it’s what I found on a legal website. Here’s the link: https://law.freeadvice.com/general_practice/contract_law/contract_valid.htm

“Is a contract signed by a minor valid?

In all states, the age requirement to sign a contract is 18 years of age. A child under the age of 18 is considered a minor and is unable to sign a contract unless it is for essential items. Essential items include medicines, food, and medical services. Otherwise, the minor child must have a parent or guardian consent to the contract in order for it to be legally binding. “

Hope this helps. I commend you for getting such an early start. Even if you’re not able to get any contracts signed right away, you can have everything ready and hit the ground running in April. 

Best of luck to you bud!!

[Ricky Cover]

Thank you, I couldn't find a definite answer so i was just wondering if anyone in here knew. I did think you had to be 18 but I just wasn't sure. Appreciate the response best of luck to you as well.

[Caleb Heimsoth]

@Ricky Cover. Any contract you sign to wholesale or otherwise is not legally binding if you are not 18, hence the minimum age is 18. I am not a lawyer, this is not legal advice. Talk to an attorney

[Ricky Cover]

@Caleb Heimsoth Thank you.

[Tyler Xiong]

I’m 17 so theoretically if I end up making a contract with the seller, could I have a parent/guardian sign it for me? 

[Brendan Harrison]

@Tyler Xiong. Yes, you should be able to have a parent/guardian co-sign. If a minor signs a contract then it is technically “voidable.” You as the minor could claim you weren’t of age, do you could back out of it, even after the fact. So most people would likely not enter into an agreement until you are 18, unless you have a co-signer. I also recommend checking with an attorney. :)

Best of luck to both of you! Definitely impressive getting started in the game this early!