Wholesaling · State comparisonReal estate wholesaling laws by state: who needs a license and what must be disclosed

States that regulate wholesaling – contracting to buy a home and selling the contract position for a profit – use three tools. Disclosure: Texas requires written notice to the buyer that the person is selling only an option or assigning a contract and doesn't hold title, and to the owner of the intent to assign, before contracting (Tex. Prop. Code §5.0205); North Dakota requires a written disclosure to all parties that the wholesaler holds only an equitable interest, may not be able to convey title and intends to profit (N.D. Cent. Code §43-23-24); since November 1, 2025, Oklahoma requires a written disclosure to the homeowner, before contracting, of the intent to resell the interest for more, plus a statement to seek legal advice and a statutory cancellation notice (59 O.S. §858-314). Licensing: Texas treats wholesaling without the disclosures as brokerage (Tex. Occ. Code §1101.0045), Pennsylvania treats a wholesale transaction as brokerage (Act 52 of 2024), Iowa requires a licensed broker or representation by one (Iowa Code §543B.6A), and South Carolina says marketing the property before owning it requires a license, while assigning the contractual right isn't wholesaling (S.C. Code §40-57-30(44)). Remedies: in North Dakota and Iowa the seller or buyer may cancel before closing if the disclosures are missing, Pennsylvania gives the homeowner a 30-day cancellation right, Oklahoma 2 business days – and makes a contract without the disclosures unenforceable by the wholesaler – Connecticut, since July 1, 2026, requires a state registration, gives the seller 3 business days to cancel and caps the closing at 90 days unless extended in writing (Public Act 25-168, §§253–254), Iowa adds a civil penalty up to $10,000 or 10% of the price, and South Carolina bars brokerage firms from assisting wholesaling (S.C. Code §40-57-350).