NC H797

Residential property wholesaling and related transactions are classified as real estate brokerage activity requiring licensure under North Carolina law, including soliciting homeowners to sell, marketing or assigning purchase contracts, and dealing in contracts or equitable interests in residential property

Homeowners have a non-waivable right to cancel wholesaling purchase contracts until midnight of the 30th day after signing or until deed conveyance, whichever occurs first

Within 10 business days of receiving a cancellation notice, all payments must be refunded to the homeowner, and any earnest money paid remains the homeowner's property

Purchase contracts must include cancellation rights disclosure in at least 14-point font immediately above the homeowner's signature, with mailing, email, and physical addresses for sending cancellation notices

Violations constitute unfair or deceptive trade practices under G.S. 75-1.1, enforceable by the Attorney General and through private causes of action, with the act effective October 1, 2025