Bridgewater, NJ asked in Real Estate Law and Business Law for New Jersey

Q: I’m interested in wholesaling.. If I sign an offer to purchase on a home, am I legally obligated to buying and damages?

Essentially I want to find homes, sign offers to purchase, and then sell the interest in those properties to house flippers who will make more money for a fee. Do I need a real estate license in NJ? Should I incorporate? Do I tell my current employer? Thanks for your input!

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1 Lawyer Answer
Leonard R. Boyer
Leonard R. Boyer
  • Clifton, NJ
  • Licensed in New Jersey

A: You really need to have an experienced business and real estate attorney set up the right corporate structure, draft the contracts and handle all legal aspects of your business. Good law firms will enable you to retain their services on an ongoing monthly retainer. Remember, a good lawyer is rarely cheap and a cheap attorney is rarely ever good. With both in person and state of the art video conferencing "meeting" and retaining the right attorney, has never been easier.

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