West Virginia Real Estate Wholesaling Accountability Act prohibits wholesaling of residential real property in the state.

The West Virginia Real Estate Wholesaling Accountability Act aims to abolish and prohibit the practice of wholesaling in the state. Wholesalers, defined as those entering into contracts for the purchase of residential real property with the intent to transfer the property to another party, will face legal consequences. The seller can cancel the contract without penalty and retain earnest money, and buyers can cancel and seek refunds or bring civil actions for damages and penalties. Exceptions exist for transactions where the purchaser takes legal title before transferring the property.

West Virginia Real Estate Wholesaling Accountability Act prohibits wholesaling of residential real property in the state.

The West Virginia Real Estate Wholesaling Accountability Act aims to abolish and prohibit the practice of wholesaling in the state. Wholesalers, defined as those entering into contracts for the purchase of residential real property with the intent to transfer the property to another party, will face legal consequences. The seller can cancel the contract without penalty and retain earnest money, and buyers can cancel and seek refunds or bring civil actions for damages and penalties. Exceptions exist for transactions where the purchaser takes legal title before transferring the property.