Is Wholesaling going to get me a misdemeanor?

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  Ben mcmanus 8 months, 3 weeks ago

  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…

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  Tim Berman
  

  Participant

  

  4 months, 3 weeks ago

  What products are you looking to wholesale? If you’re licensed, just about any products can be wholesaled.

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  Virginia Hamill
  

  Moderator

  

  3 months, 2 weeks ago

  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.

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