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…
What products are you looking to wholesale? If you’re licensed, just about any products can be wholesaled.
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.
Disclaimer: We spend hours researching and writing our articles and strive to provide accurate, up-to-date content. However, our research is meant to aid your own, and we are not acting as licensed professionals. We recommend that you consult with your own lawyer, accountant, or other licensed professional for relevant business decisions. Click here to see our full disclaimer.
Product or company names, logos, and trademarks referred to on this site belong to their respective owners.