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Lawmakers weigh regulation of real‑estate 'wholesaling' after complaints about contracts and disclosures
Summary
Representative Zullo introduced legislation to license or regulate real‑estate wholesalers after public testimony described cases where vulnerable sellers signed contracts and later alleged unfair terms. Realtors and wholesaling businesses urged consumer disclosures and said licensing needs careful design to avoid unintended consequences.
Connecticut lawmakers heard public testimony on proposed rules for so‑called real‑estate wholesaling — a practice in which an intermediary signs a purchase contract with a seller and then assigns that contract to an end buyer. Rep. Joseph Zullo urged the General Law Committee to regulate wholesalers to protect sellers who may be vulnerable or poorly informed.
Representative Zullo and others described scenarios where sellers accepted…
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