Pennsylvania's new law introduces sweeping changes to real estate wholesaling. In 2024, Pennsylvania enacted Bill 52 which requires wholesalers to register with the state, obtain licensing and follow disclosure policies. This will take effect January 4, 2025.
For example, a wholesaler finds a motivated homeowner and gets a distressed property under contract for $200,000. Then, they market the property to their buyers list. A flipper sees potential and agrees to buy the home for $210,000.
Here are the key elements to include in your wholesale contract template: Parties Involved: Names of the seller(s) and buyer(s), along with their signatures. Legal Description: Property description, street address, assessor parcel number (APN), and type of property.
Is Wholesaling Real Estate Legal in Pennsylvania? The short answer is, yes. Real estate wholesaling in Pennsylvania is legal as long as the investor complies with all applicable state laws.
The wholesaler contracts with the seller and structures the deal as a middleman. The buyer is buying the contract and, ultimately, the property.