Hi Everyone!…I am looking to wholesale properties in North Carolina, but I wanted know if anyone is familiar with wholesaling on-market in North Carolina? I have heard that …even with off-market…all parties…the seller…the agent…and the buyer have to agree to the assignment? Thank you for anyone that can help with this. I will also be consulting an investor-friendly attorney.
Kimberly, great question — and smart that you're already planning to consult an investor-friendly attorney, because assignment rules really do vary by state.
On the mechanics: with on-market properties, you're typically dealing with a listing agent, which adds a layer. The seller, the listing agent, and your end buyer all need to be on board with the assignment — and some listing agreements or MLS rules can complicate it. That's why many wholesalers prefer off-market, where you're negotiating directly with the seller.
A few things to clarify with your attorney: whether NC requires specific disclosures for assignments, how earnest money is handled, and whether the contract needs explicit assignment language. Also, be upfront with the listing agent about your intentions — surprises kill deals faster than anything. Are you already finding potential properties, or still in the research phase?