| Item | Value |
|---|---|
| Is an assignment legal here? | no |
| What the matrix says about it | CORRECTED BY F5259 AT PRIMARY SOURCE. S.C. Code 40-57-30(44): "'Wholesaling' means having a contractual interest in purchasing residential real estate from a property owner, then marketing the property for sale to a different buyer prior to taking legal ownership of the property" -- and the same subsection states "'Wholesaling' does not refer to the assigning or offering to assign a contractual right to purchase residential real estate." Advertising or marketing real estate owned by another with the expectation of compensation is 'broker' activity and requires licensure. 40-57-350(A) bars real estate brokerage firms and their subagents from engaging in, representing others in, or assisting others in wholesaling -- that binds LICENSEES, not unlicensed principals. NET EFFECT: assigning the CONTRACT is outside the definition; marketing the PROPERTY is not. |
| Marketing rule the gate enforces | no_public_marketing_without_licence |
| What that means in practice | There is no compliant unlicensed wholesale channel in South Carolina. Do not run SC outreach or SC dispositions. |
| What triggers a licence requirement | Marketing the PROPERTY (as opposed to assigning the contractual right) to a different buyer before taking legal ownership -- 40-57-30(44). |
| Written seller disclosure required? | yes |
| Basis for the disclosure | Moot -- state is NO. |
| Statutory wording required? | no |
| F5259 bucket | GO_WITH_CONDITIONS |
| Condition the gate enforces | Assign the CONTRACTUAL RIGHT (expressly excluded from 'wholesaling' by 40-57-30(44)); never market the PROPERTY. Disposition listings refused by the gate. |
| Verification status | PRIMARY_STATUTE |
| Attorney review required before first use? | yes |
| Lead class | Verdict |
|---|---|
| land | NO_PUBLIC_MARKETING__PRINCIPAL_CLOSE_ONLY |
| preforeclosure non owner occupied | NO |
| preforeclosure owner occupied | NO |
| probate | NO_PUBLIC_MARKETING__PRINCIPAL_CLOSE_ONLY |
| tax delinquent | NO_PUBLIC_MARKETING__PRINCIPAL_CLOSE_ONLY |
the whole grid · probate in SC · the disclosure blocks
Not legal advice. We are not a law firm and we do not draft documents for anyone else. A template is a starting point for a transaction you are a principal in; it is not a substitute for a lawyer licensed in the state the property sits in, and in several states the disclosure below has statutory wording that must be copied exactly. Have counsel read it before you sign.
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