Is Wholesaling going to get me a misdemeanor?
In the state of Alabama is it legal to wholesale? Also, is it considered brokering? I am trying to get started but don’t want a misdemeanor…
Hi, Ben –
We can’t give specific legal advice; however, I have no reason to think that wholesaling is illegal in Alabama as long as wholesalers use assignable contracts. That said, you should talk to a local attorney to address specific concerns.
As for your question about whether wholesaling is consider brokering, I think the best answer is not exactly. You are ‘brokering’ a deal in the common-use sense of the world. However, brokers need to be licensed by the state, and wholesalers do not. Perhaps the article What is a Real Estate Broker? can provide some clarification.