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Updated over 2 years ago on . Most recent reply

Mike Celli's profile image
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Mike Celli
  • from Washington, DC
  • Member since Jan 29, 2019
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Mike Celli's profile image
Mike Celli's profile image
Mike Celli
  • from Washington, DC
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Mike Celli
  • Washington, DC
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Wholesaling

Wholesaling in Virginia

Mike Celli
  • Washington, DC
Posted

Is it legal to wholesale properties in VA?

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Patti Robertson's profile image
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Patti Robertson
  • Property Manager
  • from Virginia Beach, VA
  • Member since Nov 22, 2016
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Patti Robertson's profile image
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Patti Robertson
  • Property Manager
  • from Virginia Beach, VA
  • Member since Nov 22, 2016
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Patti Robertson
  • Property Manager
  • Virginia Beach, VA
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Patti Robertson
  • Property Manager
  • Virginia Beach, VA
Replied

@Mike Celli It is legal to wholesale in VA as long as the wholesaler had the property under contact with no contingencies. What is not legal is to advertise or getting paid to sell someone else's contract. People often call that "joint venturing" with the other wholesaler. If you don't have a direct contract with the seller you do not have equitable interest and therefore do not have a legal right to market the property. Doing so is considered brokering without a license which is illegal.

  • Patti Robertson
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