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West Virginia Legislative Bills

2 legislative bills tracked for real estate wholesalers & investors

Medium Risk

Last synced: 1h ago

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HB4493Introduced Medium Risk

The West Virginia Real Estate Wholesaling Accountability Act

Summary

  • The West Virginia Real Estate Wholesaling Accountability Act aims to regulate the practice of real estate wholesaling in the state
  • It seeks to establish guidelines and accountability measures for wholesalers operating in West Virginia

What This Means for Wholesalers

  • This bill may require wholesalers to adhere to specific regulations, potentially including licensing or registration
  • If enacted, it could impose stricter rules on how wholesalers conduct their business, impacting their ability to operate without a real estate license
license required
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HB5091Passed One Chamber Medium Risk

Relating to duties of licensees under the West Virginia Real Estate License Act

Summary

  • This bill requires real estate licensees in West Virginia to have a written agency agreement before providing brokerage services
  • This aims to clarify the relationship between agents and their clients

What This Means for Wholesalers

  • For wholesalers, this bill may complicate their operations as they typically do not have a formal agency agreement when assigning contracts
  • They may need to establish such agreements or risk operating outside the law, potentially requiring a real estate license
license required
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Data sourced from state legislatures via LegiScan. Not legal advice. Always consult a licensed real estate attorney in your jurisdiction.