North Dakota licenses wholesaling — and adds a disclosure rule.
North Dakota's HB 1190 has been in effect since August 1, 2023: publicly marketing a property you have under contract but don't yet own requires a license, plus written disclosures to everyone involved. Here's the plain-English version, and where funding fits if you buy the property instead of assigning the contract.
What the law does
North Dakota's HB 1190, effective August 1, 2023, added wholesaling to what counts as real estate brokerage. Two parts matter: publicly marketing for sale a property you hold under contract but don't yet own requires a real estate license, and a wholesaler has to give written disclosure to everyone involved — that you hold only an equitable interest, that you may not be able to convey title, and that you intend to profit from the transfer. Miss the disclosure and the seller can cancel and keep the deposit. (North Dakota broadened the rule in 2025 to cover all property, not just homes.)
This is a plain-English summary, not legal advice — confirm your own situation with a North Dakota attorney.
Assigning versus buying
The rule attaches to publicly marketing a property before you take title. A double close is a different transaction — you actually buy the home from the seller, take title, then sell to your end buyer, often the same day. Once you own it, you're marketing your own property. Whether that changes your obligations on a given deal is a question for a North Dakota attorney, and it depends on the facts — including how, and when, the property was marketed. What we can speak to is the practical part: buying the home takes real money at the closing table, even if you own it only briefly.
Where transactional funding fits
We fund the purchase for the short window between the two closings, repaid out of your buyer's proceeds, so your own capital stays free. You bring a real end buyer and a closing agent; we bring the money for the hours in between.
Budget for it honestly. A double close means a second set of closing costs — commonly around 3% — plus the funding fee. Run that against what an assignment would have paid you before you assume the structure works.
Need the funds to close?
Tell us the deal — type of funding, amount, and closing date. We answer quickly, and we tell you straight if it isn't a fit.
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