Wholesaling In CA

Is it true that it is against the law to assign contracts in CA?

Jennifer rolleyes

Comments(7)

  • regal17th March, 2005

    Nope.

  • mjerhart18th March, 2005

    I have heard alot about CA Civil Code 1695

    Does this mean I can not assign a contract for a house in preforclosure/forclosure?

  • MoveSmart18th March, 2005

    Well the answer is yes and no.. There is a Department of real Estate code that reads if you sell more than 8 contracts you must be a licensee or using a licensee. The key is non-title ownership...if you own the home you can sell as many as you want but if youre negotiating contracts youre acting as an agent.

  • mjerhart18th March, 2005

    So, the best way to assign contracts in CA is to get your real estate lic.......?

  • MoveSmart18th March, 2005

    Although I have one I would never suggest someone get theirs... Just find an agent who will do the asignments for you. And remember you can do the first 7 without a license.. And check with your attorney

  • MissHelen17th March, 2005

    Maryland allows for a disclaimer for non owner occupants. The banks etc are "exempt" by law.

    Hope this helps.

  • JohnMichael17th March, 2005

    Disclosures are primary for owner occupied property.

    Many state laws do cover issues that are health related even on none owner occupied

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