LA HB468

Defines "wholesaling" as securing or facilitating the purchase/sale of residential real property (1-4 units) with intent to assign or sell contractual rights for financial gain, including contract assignments and simultaneous closings

Requires wholesalers to provide written disclosures before contract execution, including their intent to profit from reselling contractual rights and advising sellers to seek legal counsel

Grants sellers a 14-day cancellation period without penalty after signing any wholesaling contract, with mandatory cancellation notice language required in all agreements

Prohibits wholesalers from acting as seller advisors, misrepresenting licensure, placing liens on properties, or engaging in deceptive trade practices

Violations render contracts immediately voidable by the seller, entitle sellers to full return of earnest money deposits, and constitute unfair trade practices enforceable by both the Attorney General and the Louisiana Real Estate Commission