You may have seen the signs or gotten the postcards: "We Buy Houses Cash." Or maybe an investor has offered to buy your property and mentioned "assigning the contract." Both are signs of real estate wholesaling, a practice Oklahoma tightened significantly with Senate Bill 1075.

What Is Wholesaling?

In a typical wholesale deal, a wholesaler signs a purchase contract with a property owner. The wholesaler doesn't plan to buy, live in, or fix up the property. Instead, they sell their rights under that contract to a third-party buyer, usually an investor, and keep the difference as their fee.

Wholesaling isn't automatically illegal or unethical. Done openly, it can connect a motivated seller with an investor who can close quickly. The problem is that the practice has often left homeowners in the dark about who is actually buying their property, and for how much.

What Oklahoma's Law Requires

Oklahoma's wholesaling law took effect November 1, 2025. Its main requirements include:

• Written disclosures before you sign. The wholesaler must tell you they don't intend to buy the property themselves, that they intend to sell or assign the contract for a profit, and that you should consider seeking legal advice.
• A right to cancel. Homeowners get a two-business-day window to cancel without penalty. The Oklahoma Real Estate Commission publishes a cancellation notice form that the wholesaler must give you at no cost.
• No pressure to sign a deed early. The wholesaler can't ask you to sign a deed or other closing documents until your cancellation period has ended.
• Required contract terms. The contract must include the wholesaler's contact information, the payment terms, and the standardized cancellation notice.
• No liens. Wholesalers can't record liens that would block you from selling to someone else.
• Limits on marketing. In general, unlicensed wholesalers may market their contract rights to buyers, but not the property itself as though they owned it. Public advertising of a property you don't own can be treated as real estate brokerage activity requiring a license.

If required disclosures are missing, the contract may be unenforceable by the wholesaler.

Tips for Homeowners

1. Don't rush. Pressure to sign "today" is a red flag.
2. Get other offers. Ask a licensed agent what your home would sell for on the open market, and compare.
3. Ask directly: "Are you going to buy this house yourself, or sell your contract to someone else?"
4. Read before signing anything that gives someone the right to buy your property or that records against your title.
5. Talk to an attorney before signing, or within your cancellation window.

Tips for Investors and Wholesalers

• Use contracts that contain the required statutory language, in the required form and placement.
• Give the OREC cancellation notice with every seller contract.
• Understand that a double closing is not a workaround. Oklahoma's law reaches these structures too.
• Watch your marketing. Advertising a property you don't own is where many wholesalers cross into unlicensed brokerage.
• Handle earnest money properly, through an Oklahoma escrow account.
• Have an attorney review your purchase agreements and assignment contracts before you use them.

Why It Matters

For homeowners, the difference between a fair deal and a bad one can be tens of thousands of dollars. For investors, a defective contract or non-compliant marketing can mean lost deals, forfeited fees, and regulatory trouble.

How Hayes Legal Solutions Can Help

We help both sides of these transactions. That includes reviewing a wholesale contract before you sign, helping you get out of an agreement you've regretted, and drafting compliant purchase agreements and assignments. Call our office at 405-594-7943 or visit www.hayeslegalsolutions.com to get started.

This article is for general information only and is not legal advice. Laws change, and every situation is different. Contact an attorney about your specific circumstances.