OK SB1075

Defines "wholesaler" as any person or entity that contracts to purchase residential real estate with intent to assign or sell contractual rights before taking ownership, or engages in double closings for profit

Requires wholesalers to provide written disclosures before contract execution stating their intent to resell the property at a higher price, and to advise homeowners to seek legal counsel

Grants homeowners a 2-business-day cancellation period without penalty after signing a contract with a wholesaler

Prohibits wholesalers from acting as advisors on behalf of homeowners, misrepresenting professional credentials, or placing liens that cloud property title

Contracts lacking required disclosures are invalid and unenforceable, with earnest money deposits returned to homeowners; the Oklahoma Real Estate Commission must publish a free cancellation form and promulgate implementing rules; effective November 1, 2025