Wholesaling in Ohio?

Question

Hey everyone!

As a newbie, I'm not completely up to date on current policies regarding real estate in Ohio. I had read in a forum a while back regarding restrictions on wholesaling in Ohio. Can anybody help me understand the matter further?

Thanks!

Adam Adams · Answer

I know just a couple things...

1) If you are assigning contracts you are not allowed to advertise the property, you have to advertise the contract, furthermore you have to blank out the property address.

for example:

"I have a contract on a great house in Cuyahoga with some incredible numbers, however the guy needs to sell next week and I cant close on it fast enough. I would be willing to assign the contract to someone for a small fee. Call me if you're interested."

2) the other thing I know is that if you are trying to do a double close, they are making your contract close with YOUR funds well in advance of you selling the house to your buyer. There are a couple of companies out there specializing in this type of short term financing "transactional funding" which will allow you to sell the house with out issues and it is typically a 1 time 1% fee.

Hope this helps!

Good Luck,

Adam Adams

Linda Labbe · Answer

Hi do a lot of work  in Ohio and would me delighted to chat with you give me a call