Are wholesalers considered rep of equity purchaser under CA law?
I would like to get started assigning properties here in CA but need to fully understand the legal implications first. If I were to sign a purchase agreement with the seller and then sell this to an equity purchaser in an assignment contract would I be considered as a representative of the equity purchaser under CA law? If that is the case I would need to have a real estate sales license under CA law.
I remember reading something indicating that I would not as I would have full equitable title of the house under the contract but I just wanted to verify this before proceeding. Thanks everyone for their input and help. This is a wonderful forum with a great wealth of information.
There are currently 0 users and 8619 guests online.
Free Periodic Webcasts
Dean has FREE webcasts and conference calls every so often! Be sure to register with us to stay updated and save your spot for future broadcasts and calls.
Any time a new conference call has been scheduled we will email everyone registered the special access information and put a reminder on the front page of the site.
I would like to get started assigning properties here in CA but need to fully understand the legal implications first. If I were to sign a purchase agreement with the seller and then sell this to an equity purchaser in an assignment contract would I be considered as a representative of the equity purchaser under CA law? If that is the case I would need to have a real estate sales license under CA law.
I remember reading something indicating that I would not as I would have full equitable title of the house under the contract but I just wanted to verify this before proceeding. Thanks everyone for their input and help. This is a wonderful forum with a great wealth of information.