| Item | Value |
|---|---|
| Is an assignment legal here? | no |
| What the matrix says about it | Act 52 of 2024 amends the Real Estate Licensing and Registration Act so that residential wholesalers must be LICENSED REAL ESTATE BROKERS, with consumer disclosures and rights of cancellation. Effective 2025-01-08. |
| Marketing rule the gate enforces | licence_required |
| What that means in practice | Statewide broker licence needed. In Philadelphia there is an ADDITIONAL city licence (Philadelphia Code 9-205 / Residential Property Wholesaler License) with a Commercial Activity License, insurance, a PA State Police criminal-history check, and a written disclosure to the homeowner AT LEAST 3 DAYS BEFORE PRESENTING AN OFFER that must be signed by the owner; an agreement of sale by an unlicensed wholesaler may be rescinded by the homeowner at any time before title transfers. |
| What triggers a licence requirement | Any residential wholesale transaction (Act 52 of 2024); plus a city licence in Philadelphia. |
| Written seller disclosure required? | yes |
| Basis for the disclosure | Act 52 of 2024 (RELRA, 63 P.S. 455.101 et seq.) + Philadelphia Code 9-205 (3-day pre-offer disclosure, owner signature). |
| Statutory wording required? | yes — Philadelphia prescribes the disclosure content (fair-value resources incl. the Office of Property Assessment website, right to hire an agent, right to counsel). Do not generate it unlicensed. |
| F5259 bucket | EXCLUDE |
| Condition the gate enforces | EXCLUDED. Act 52 of 2024 (from SB 1173, enacted 2024-07-08, effective 180 days) amends the Real Estate Licensing and Registration Act definitions of 'broker' and 'salesperson' to reach wholesale transactions, and adds a seller right to cancel. Philadelphia separately requires a city Residential Property Wholesaler licence. |
| Verification status | OFFICIAL_BILL_RECORD |
| Attorney review required before first use? | yes |
| Lead class | Verdict |
|---|---|
| land | NO |
| preforeclosure non owner occupied | NO |
| preforeclosure owner occupied | NO |
| probate | NO |
| tax delinquent | NO |
the whole grid · probate in PA · the disclosure blocks
Not legal advice. We are not a law firm and we do not draft documents for anyone else. A template is a starting point for a transaction you are a principal in; it is not a substitute for a lawyer licensed in the state the property sits in, and in several states the disclosure below has statutory wording that must be copied exactly. Have counsel read it before you sign.
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