Not legal advice. This is a plain-language reading of Oregon Revised Statutes sections 696.010, 696.020, 696.650 to 696.670, and 696.997 as published by the Oregon Legislature (2025 edition) and read on October 20, 2026. Have an Oregon real estate attorney review your contracts and disclosure form before you use them.
What does Oregon's wholesaling law say?
Oregon regulates wholesaling through a registration system run by the Real Estate Agency, not through a new license class. The rules are in ORS 696.650 to 696.670 and 696.997, which the Legislature enacted in 2024 (Oregon Laws 2024, chapter 3). The statute's own note says these sections were not added to ORS chapter 696 by legislative action, so they print inside that chapter but stand as their own series.
The law does three things. It requires an individual who wholesales to register (ORS 696.653 and 696.656). It requires a written disclosure to buyers, sellers, and licensed agents involved in the deal, and a matching notice in every ad (ORS 696.662). And it gives the Real Estate Commissioner tools to investigate, issue cease and desist orders, and discipline registrants, backed by criminal and civil penalties (ORS 696.665, 696.668, 696.670, and 696.997). Other states went their own way: compare Oklahoma, Tennessee, and Missouri. Oregon is the registration-first model, closer to a license than a disclosure-only rule.
Who has to register as a wholesaler in Oregon?
ORS 696.650(4) defines residential property wholesaling as marketing residential property for which the marketer has only an equitable interest or an option to purchase and, at the time of marketing, has both (a) held that interest or option for fewer than 90 days and (b) invested less than $10,000 in land development or improvement costs. "Market" means to advertise, or contract with someone to advertise, or to solicit purchasers, publicly or privately. "Residential property" means real property zoned for residential use or an existing condominium unit.
The duty applies to every person wholesaling Oregon property, and one transaction is enough. Where the wholesaler is an entity, the individual conducting the activity for it must be the registrant. Exempt from registering are brokers licensed under ORS 696.022 who are engaged in professional real estate activity (they must instead give written disclosure on every wholesale deal), attorneys acting as attorneys, receivers, conservators, bankruptcy trustees, personal representatives, trustees acting under a deed of trust, will, or trust, and certain recorded powers of attorney.
| Item | What the statute says | Where |
|---|---|---|
| Covered activity | Marketing a home held only by equitable interest or option | 696.650(4) |
| Holding period | Held fewer than 90 days at the time of marketing | 696.650(4)(a) |
| Money invested | Less than $10,000 in land development or improvements | 696.650(4)(b) |
| Who registers | An individual only; fee capped at $300 initial and $300 renewal | 696.656, 696.659 |
| How many deals | One act is enough | 696.653(3) |
| Exempt | Licensed brokers (with disclosure), attorneys, court-appointed fiduciaries, some recorded POAs | 696.653(4) and (6) |
An applicant must be at least 18, have a high school diploma or equivalent, list every entity and business name used for wholesaling (each registered with the Secretary of State), and clear a criminal records check, which can include fingerprints (ORS 696.656).
What must the Oregon wholesaler disclosure say?
ORS 696.662 requires the registered wholesaler to give a written disclosure to potential buyers and sellers before any written contract, to any licensed agent engaged to help market the property, to any licensed agent helping a buyer purchase it, and in all advertising for the property. The Real Estate Agency sets the standards, but the statute fixes the floor: at least 10-point bold type, stating that the wholesaler:
- is a residential property wholesaler;
- has only an equitable interest in the property;
- does not have legal title and might be unable to transfer title to the buyer;
- might not be a licensed broker and so might not be allowed to engage in professional real estate activity; and
- might not be a licensed appraisal specialist and so might not be allowed to give an opinion of value.
The disclosure also creates a cancellation window. A seller or buyer who signs a wholesale contract can cancel without penalty by written notice any time before midnight at the end of the third business day after receiving the disclosure, and that right cannot be waived. All earnest money goes back to whoever paid it.
| Situation | Result | Where |
|---|---|---|
| Disclosure given before contract | Either party may still cancel until the third business day after receipt | 696.662(3) |
| No disclosure to the seller before contract | Seller may terminate at any time and keep the earnest money | 696.662(4) |
| Contract ends because disclosure was not given | Wholesaler is liable for seller and buyer damages | 696.662(5) |
| Dispute over a missed disclosure | Prevailing party recovers attorney fees from the wholesaler | 696.662(6) |
What happens if a wholesaler skips registration or disclosure?
The penalties stack. Under ORS 696.997, knowingly violating the registration rule (696.653), the disclosure rule (696.662), or the conduct rule (696.665) is a Class A misdemeanor. An officer, director, shareholder, member, manager, or agent of a company who personally takes part in or is an accessory to the violation faces the same charge, so forming an LLC does not insulate the individual who ran the deal.
On the civil side, the commissioner may require a penalty of $1,000 to $2,500 for a first offense of unregistered wholesaling and $2,500 to $5,000 for each later offense, plus an additional amount up to the profit the person made on the transaction. A lapsed registration counts as a separate offense for each 30-day period of wholesaling after the lapse. The commissioner can also investigate on complaint, sue to enjoin violations (ORS 696.668), and issue a cease and desist order that takes effect 30 days after it is issued unless the person requests a hearing (ORS 696.670). Finally, an unregistered wholesaler who is not exempt cannot maintain a lawsuit in Oregon courts to enforce a claim arising from wholesaling, which means a deal gone wrong can leave the wholesaler with no way to collect.
Do you need an Oregon real estate license to wholesale?
A wholesaler registration is separate from a broker license, and neither replaces the other. ORS 696.020(2) bars an individual from carrying on, advertising, or purporting to carry on professional real estate activity without an active license. ORS 696.010 defines that activity as listed acts, including buying, selling, or dealing in options on real estate, when done "for another and for compensation" or in expectation of compensation. ORS 696.040 adds that one act is enough to count.
The wholesaling statute then carves out its own lane: a registered wholesaler who markets a home under their own equitable interest is dealing under ORS 696.653, and a licensed broker who wholesales only needs to give written disclosure. Where the line falls when a wholesaler also negotiates for a third party, collects a fee from a buyer, or markets a property that does not fit the 90-day and $10,000 test is not answered by the text I read, so it is a question for an Oregon attorney. The agency can investigate and order a person to cease and desist from unlicensed activity under ORS chapter 696, so treat the license question as live, not settled.
What should investors do on an Oregon deal?
Handle registration and disclosure before you advertise, not after you have a buyer. None of these steps replaces advice from an Oregon attorney.
- Register before you market. Apply to the Real Estate Agency as an individual and list every business name you use. Budget up to $300 and time for the criminal records check.
- Put the disclosure in every ad. ORS 696.662 covers all advertising for the property, including social posts and email blasts to your buyers list.
- Deliver the disclosure before the contract. Keep a dated copy. Without it the seller can walk away with the earnest money.
- Calendar the three business days. Treat the cancellation window as live for both seller and end buyer.
- Watch the 90-day and $10,000 lines. They define who is a wholesaler. Closing on the house yourself, or using a double close instead of an assignment, changes the analysis, so ask your attorney first.
- Keep deposits small and refundable. Cancellation returns all earnest money.
- Sell to a direct cash buyer. Submit the deal to Home Pros or browse the marketplace.
Home Pros is a veteran-owned cash buyer based in San Antonio, founded in 2025. We buy houses as-is, pay closing costs, and can close in as little as 7 days. Oregon owners can read our guides on selling an inherited house in Oregon and see how we calculate an offer or try the cash offer calculator. Investors can see how our cash buyers work, learn how contract assignment works, and read how Oregon rent control changes underwriting.
Frequently asked questions
Is wholesaling legal in Oregon?
Yes, but only if you register. Since 2024 Oregon requires anyone who markets a home they hold only an equitable interest or option in, for fewer than 90 days, to register as a residential property wholesaler with the Real Estate Agency and give a written disclosure before contracting (ORS 696.653 and 696.662).
Do you need a real estate license to wholesale in Oregon?
Not a broker license, but a wholesaler registration. ORS 696.653 says no one may engage in residential property wholesaling unless registered under ORS 696.656. Licensed Oregon brokers are exempt from registering only when they give written disclosure on every wholesale transaction.
What does the Oregon wholesaler disclosure have to say?
It must be in at least 10-point bold type and state that the person is a residential property wholesaler with only an equitable interest, has no legal title and may be unable to transfer title, may not be a licensed broker, and may not be a licensed appraisal specialist (ORS 696.662).
Can an Oregon seller cancel a wholesale contract?
Yes. A buyer or seller may cancel without penalty until midnight at the end of the third business day after receiving the disclosure, and that right cannot be waived. If no disclosure was given before contracting, the seller may terminate at any time and keep the earnest money.
What are the penalties for unregistered wholesaling in Oregon?
Knowing violations are a Class A misdemeanor. The commissioner may also impose civil penalties of $1,000 to $2,500 for a first offense and $2,500 to $5,000 for later offenses, plus up to the profit made, and an unregistered wholesaler cannot sue to enforce a wholesale claim (ORS 696.997).
How much does Oregon wholesaler registration cost?
The statute caps the initial registration fee and the renewal fee at $300 each (ORS 696.659). The applicant must be at least 18, have a high school diploma or equivalent, list every business name used, and pass a criminal records check.
Sources
Documents were read on October 20, 2026. Quoted language is from the sources below.
- ORS chapter 696, Real Estate and Escrow Activities (2025 edition): residential property wholesaling, ORS 696.650 to 696.670, registration, disclosure, and discipline.
- ORS 696.997, Penalties for violation of ORS 696.653, 696.662 or 696.665: Class A misdemeanor and civil penalties.
- ORS 696.010, 696.020, and 696.040: professional real estate activity, license requirement, and the single-act rule.
- Oregon Real Estate Agency: the agency that issues registrations and sets disclosure standards.
Not legal advice. Statutes change and courts and regulators may interpret them differently. Confirm current law with a licensed Oregon attorney.