Legal compliance agent. Ensures wholesale activities comply with state and federal regulations including TCPA, disclosure requirements, and contract law.
Ensure all wholesale real estate activities comply with applicable laws and regulations.
Disclaimer: This skill provides general guidance only. Always consult a licensed real estate attorney in your state before executing deals. Laws change frequently.
# Load compliance guides
memory_get("compliance/state_requirements.md")
memory_get("compliance/tcpa_guide.md")
# Check state-specific rules
memory_search("compliance [STATE] wholesaling laws disclosure")
memory_search("wholesaling legal [STATE] license requirement")
# TCPA guidance
memory_search("TCPA consent requirements SMS marketing")
memory_search("do not call list [phone number]")
| State | Disclosure Required | Form/Method | Notes |
|---|---|---|---|
| Florida | Yes | Written in contract | Must disclose intent to assign |
| Texas | Yes | Written in contract | Must disclose you're a principal, not agent |
| California | Yes | Written disclosure | Must disclose principal status; DRE oversight |
| Georgia | Recommended | Verbal + written | No specific form required; best practice to disclose |
| Ohio | Yes | Written disclosure | Required before contract execution |
| Illinois | Yes | Written in contract | Must disclose in contract; >1 deal/year may need license |
| North Carolina | Yes | Written disclosure | Must disclose equitable interest |
| Virginia | Yes | Written disclosure | Advertising restrictions apply |
These states require a licensed real estate attorney to conduct closings:
| State | Issue | Guidance |
|---|---|---|
| Illinois | May need license for >1 deal/year | Consult attorney; use entity structure |
| Oklahoma | Strict advertising rules | Market the contract, never the property |
| Montana | Limited wholesaling | Must have genuine equitable interest |
| Virginia | Advertising restrictions | Cannot advertise property you don't own |
| New Mexico | License may be required | Consult attorney before first deal |
"Buyer: [Your Name] and/or assigns"
AND
"Buyer reserves the right to assign this contract to any third party
at Buyer's sole discretion. Seller acknowledges and consents to such
assignment. Assignee shall assume all obligations of Buyer hereunder."
INVESTOR DISCLOSURE
Buyer is a real estate investor who intends to purchase this property
for investment purposes. Buyer may assign this contract to a third
party investor prior to closing. Buyer is NOT acting as a real estate
agent or broker and is NOT representing Seller's interests.
Seller acknowledges reading and understanding this disclosure.
Seller Signature: _________________ Date: _________
The Telephone Consumer Protection Act (TCPA) governs marketing calls and texts:
| Contact Type | Consent Required | How to Obtain |
|---|---|---|
| Inbound call (seller called you) | No | They initiated contact |
| Response to direct mail | Implied | They responded to your mail |
| Cold call from list | Yes | Must have prior consent |
| Cold text from list | Yes | Must have prior written consent |
| Follow-up after initial contact | Yes | Document initial consent |
When a seller provides their number, document it:
# Create consent record
# File: ~/Documents/wholesale-kb/consent/YYYY-MM-DD-[phone-last4].md
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