Missouri's New Wholesaling Law Takes Effect August 28—What Changes Do You Think We'll
Missouri's new residential wholesaling law takes effect end of next month - 8/28. It doesn't ban wholesaling, but it does require wholesalers to provide sellers with a separate disclosure at least 14 days before entering into a purchase contract, explaining that the contract may be assigned, that the wholesaler may profit from the transaction, and other key details.
I'm curious what other investors think the real-world impact will be -- Will this simply improve transparency while leaving business largely unchanged? Or do you think we'll see fewer wholesale deals, more double closings, changes in acquisition strategies, or even more properties listed on the MLS instead?
For those of you who wholesale, buy wholesale deals, or work with motivated sellers, how are you preparing for August 28? What do you think the biggest fallout—or opportunity—will be?
- Alicia Sierra
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- Real Estate Consultant
- Summerlin, NV
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#1 All Forums Contributor
- Real Estate Consultant
- Summerlin, NV
I personally think most wholesalers will just ignore it or plead ignorance until they get turned in.
- Jay Hinrichs
- Podcast Guest on Show #222
