Summer 2025

The second phase of HB 4058 implementation became operative on July 1, 2025. Anyone engaged in residential property wholesaling in Oregon must now register with the Oregon Real Estate Commissioner, pay a $300 registration fee, pass a background check, and meet ongoing disclosure obligations on every wholesale transaction.

Oregon law defines residential property wholesaling narrowly: marketing a residential property in which the marketer has only an equitable interest or an option to purchase, where the marketer has held that interest for fewer than 90 days and invested less than $10,000 in land development or improvement costs. The narrow definition is intentional — it targets the assignment-style "marketing for sale a property you don't actually own" model while preserving legitimate option-and-rehab investing. Wholesalers must include a written disclosure in any transaction stating that the wholesaler holds only an equitable interest and may not be able to directly transfer title, and similar disclosure language is required in property advertising. Sellers also get a three-day cancellation window after receiving the required disclosures.

For licensed brokers, this matters because unlicensed wholesalers now operate under a parallel registration regime supervised by OREA. Brokers representing sellers approached by a wholesaler should confirm the wholesaler is registered, verify the disclosure was provided, and document the seller's three-day window. The OREA Property Wholesaling Law and Rule Overview is the authoritative agency page; Virtual Underwriter's Oregon bulletin OR2024002 covers the title-side compliance implications.