And What the North Carolina Real Estate Commission Has Said About It
Would you hand over your largest asset to someone who never planned to buy it?
That’s what happens to many homeowners who accept a “cash offer” from someone who turns out not to be a real buyer.
These people are often called wholesalers. They put your home under contract, then sell that contract to another investor for a profit. The original “buyer” never intended to close.
Not every assignment is a problem. But when a wholesaler hides their real plan from you, you can end up with delays, a renegotiated price, or a contract that falls apart.
The NCREC Has Addressed Wholesaling
In a December 2023 bulletin, the North Carolina Real Estate Commission drew a clear line.
A buyer who truly intends to purchase your home can legally assign their contract to someone else without a real estate license.
What crosses the line is different. According to NCREC, these activities can be unlicensed brokerage:
- Telling sellers you will buy their home for cash when you have no intention of buying it yourself
- Marketing to buyers in general, not tied to a specific contract you hold
- Misrepresenting your ownership interest in a property
NCREC also made clear that calling yourself a “cash buyer” or “investor” does not exempt you from licensing rules.
What About New Wholesaling Laws?
In 2025, North Carolina lawmakers introduced House Bill 797. If passed, it would give homeowners a 30-day right to cancel wholesale contracts and require specific disclosures in those contracts.
As of this update, HB 797 has not become law. You may see websites saying it took effect October 1, 2025. It did not. I checked the NC General Assembly’s bill history and the current statute myself.
Until that changes, your best protection is reading the contract carefully before you sign.
What This Means for Homeowners
A real estate license alone does not tell you whether a cash buyer is real. A legitimate buyer doesn’t need one, and a licensed person can still wholesale.
Ask these three questions instead:
- “Do you intend to close on this home yourself?”
- “Does this contract allow you to assign it to someone else?”
- “Can you show me proof of funds in your name or your company’s name?”
A buyer who plans to close will answer all three without hesitation.
For a closer look at the contract itself, read How to Read a Cash Offer Contract Line by Line.
Why I Tell You Which Role I’m In
At JMS Home Buyers, I combine the speed of a cash sale with the accountability of a licensed professional here in Ballantyne and Charlotte.
I’m a licensed real estate broker in North Carolina and South Carolina. When JMS Home Buyers is the direct buyer of your home, I tell you that up front. When I’m serving as a licensed agent helping you sell on the open market, I tell you that too.
You should always know who you’re dealing with and what role they’re playing.
Before you sign any contract, you can look up any real estate license on the North Carolina Real Estate Commission website at www.ncrec.gov.
If you’re thinking about selling quickly and want to do it safely, I’m happy to talk through your options.
Updated October 2026 to reflect the current status of HB 797.