2025 Oklahoma Wholesaling Update

Oklahoma Wholesaling Laws Explained by an Oklahoma Real Estate Attorney (New Rules November 2025)

Effective November 1, 2025, Oklahoma’s SB 1075 reshapes how residential real estate “wholesale” transactions can be conducted in the state. The law requires new plain-English disclosures to be included in all wholesale contracts, a clear termination period for homeowners, and more guardrails for wholesalers which exceed the first wholesaling statutes in 2021. Below is a practical guide for residential sellers and professional wholesalers to the practice of wholesaling in Oklahoma from November 1, 2025 and beyond.

Quick background: What was the status of the law before November 1, 2025?

In 2021, Oklahoma enacted the Predatory Real Estate Wholesaler Prohibition Act, which essentially folded most wholesaling into the Oklahoma Real Estate License Code, as updated, and regulated by the Oklahoma Real Estate Commission (OREC). In plain terms, if you publicly market deals or solicit assignments, you’re expected to be licensed and to follow brokerage rules.

Wholesalers easily avoided penalties under this law by “privately” marketing deals to their own lists of interested buyers, “double closing” transactions (A to B, and B to C, as two separate transactions on the same day), or both.

Read our original Oklahoma wholesaling overview here.

Overview of the 2025 Oklahoma Wholesaling Law

SB 1075 doesn’t replace the 2021 framework; it layers on consumer-facing contract rules and clarifies definitions. Key changes:

1) “Wholesaler” and “double closing” are now defined

The law now defines a wholesaler and expressly includes double closings where the wholesaler closes with the seller and immediately resells to the end buyer without intent to reside in or materially improve the home.

2) Mandatory written disclosures before and in the contract

A wholesaler must, in writing: Disclose the intent to assign or sell the equitable interest for a higher price than offered to the homeowner (before any contract is signed); Urge the homeowner to seek legal advice before signing; and Disclose the homeowner’s right to cancel within two (2) business days after signing.

3) A 2-business-day right to cancel for the homeowner

Homeowners can cancel without penalty within two (2) business days of execution. The contract must include a prominent, formatted statutory notice next to the seller’s signature, and OREC provides a free cancellation form on its website.

4) Prohibitions aimed at confusion and clouds on title

A wholesaler may not: Act as the homeowner’s advisor/representative (or suggest they are) unless properly licensed for that role; or Claim to hold a certification or license they don’t have; and wholesalers cannot place any lien, wholesale memorandum, or other encumbrance in the land records to intentionally cloud title to a property.

5) Required contract contents and escrow of earnest money

The wholesaler’s contract must list the wholesaler’s name, address, phone, the property address, total consideration, and a complete description of payment/consideration (including any promised services, such as move-out assistance or cleaning services). Any earnest money must be held in an Oklahoma escrow account at a federally insured financial institution; this rules out any banking institutions which do not have a physical location or branch in Oklahoma.

6) Non-compliant contracts are invalid

If the required SB 1075 disclosures are missing, the contract is invalid and unenforceable by the wholesaler. If cancelled, the homeowner keeps the earnest money.

2025 Wholesaler Requirements in Oklahoma

• Obtain a license if your activities trigger the License Code (e.g., publicly marketing assignments/soliciting)
• Provide pre-execution disclosure of your intent to assign/sell at a markup
• Include the exact language of the legal-advice warning and the 2-business-day cancellation notice in the contract with the required format and proximity to the seller’s signature
• Include who you are (name, address, phone), the property address, total consideration, and complete payment/consideration terms (including ancillary services)
• Give the OREC cancellation form to the seller/homeowner at no cost
• Hold earnest money in an Oklahoma-based escrow account at an FDIC-insured institution
• Do not present yourself as the seller’s advisor/agent unless licensed; do not claim credentials you don’t hold
• Never file a lien/memorandum/encumbrance or otherwise cloud title to “hold” your deal

New prohibitions (high-risk actions wholesalers should avoid)

• Pretending to be the seller’s representative/advisor without the appropriate license or contractual relationship
• Implying that you are licensed or certified when you are not
• Recording “memoranda” or other instruments that function as a lien/encumbrance against the property to secure your contract position
• Failing to include the required disclosures or notices in your contracts

Seller’s Termination Rights under 2025 Wholesaling Law (When can a seller terminate a wholesale contract?)

Sellers have two (2) business days to cancel a wholesale contract without penalty as a statutory right.

Sellers may also have the right to terminate a wholesale contract at a later date (after the second day) if certain conditions are met, such as the the wholesale contract not including required disclosures or notices. If this is the case, the seller will be entitled to keep the wholesale buyer’s earnest money.

When can a wholesaler/buyer terminate a wholesale contract in Oklahoma?

SB 1075 does not create a statutory right for the wholesaler to cancel. A wholesaler may only terminate under the contingencies in the written contract (which typically include the right to inspection, investor-approval, and financing terms). Even if a wholesaler has a right to terminate, they may also be bound by the real estate licensees code if their conduct constitutes licensable brokerage activity. If the wholesaler omitted the required disclosures, they cannot enforce the contract and may have to forfeit all earnest money.

Practical Wholesaling Guidance in Oklahoma

For residential sellers

(1) Slow down and read the contract carefully, including all disclosures and notices. You have two (2) business days to change your mind even after you have signed a wholesale contract. Use this time to call a knowledgeable real estate lawyer and understand what the implications of the contract will be.

(2) Watch for red flags: anyone who claims they are “your advisor”, or who pressures you to sign a contract the same day the met you, or hints they can record something against your title to “hold the deal.” Those actions are all now prohibited.

For professional wholesalers

(1) Tighten up your paperwork and contract language. Update your contracts to meet SB 1075’s content and formatting rules. Don’t forget to include OREC’s cancellation form.

(2) Escrow all earnest money correctly in an Oklahoma-based account.

(3) Audit and update your marketing: Words matter. If you publicly market or otherwise engage in licensable activity, as defined by the new Oklahoma rules, you should obtain a license and comply with the License Code. Penalties for unlicensed activity can be criminal.

(4) Immediately stop all “memo of contract” tactics and any title-clouding recordings.

Avenue Legal Group is the Top Oklahoma Law Firm for Wholesale Contract Drafting, Questions, and Disputes

The attorneys at Avenue Legal Group are experienced with every aspect of wholesaling in Oklahoma. We help protect both wholesale sellers and investor professionals, ensuring compliance with state laws and navigating complex wholesaling questions disputes.

Our frequent wholesaling services:

• Entity setup for Oklahoma-compliant wholesaling (LLC formation, custom entity operating agreements, joint venture agreements, standard operating procedure audits, etc.)
• Contract drafting and reviews (statutory notices, escrow instructions, lawful contingencies)
• Compliance audits for marketing practices (to avoid unlicensed activity and steep financial penalties)
• Counsel to sellers to compare offers, use the 2-day cancellation, and negotiate better terms
• Training for acquisitions teams on what they can/cannot say or record against title

Contact Avenue Legal Group at 405-938-3107 to discuss your wholesale transaction, business, or contracts.

Note: This article is meant for general information and is not legal advice specific to your situation. If you would like help updating your wholesale contracts, marketing practices, or business structure to comply with Oklahoma wholesaling laws, including SB 1075, contact our office.