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Virginia real estate wholesaling laws (2026)

Dealing in assignable contracts two or more times in 12 months for compensation requires a Virginia broker license.

Is wholesaling legal in Virginia?

Quick answer

Since July 1, 2024, Virginia's definition of 'real estate broker' includes anyone who, for compensation, buys, sells, negotiates or otherwise deals in real estate contracts, including assignable contracts, on two or more occasions in any 12-month period. In practice, one wholesale assignment a year may be done without a license, but a second within 12 months requires a broker license from the Virginia Real Estate Board.

Wholesaling is legal in Virginia, but a second assignable-contract deal within any 12-month period requires a license from the Real Estate Board. Since July 1, 2024, the definition of 'real estate broker' in Va. Code 54.1-2100 includes anyone who, for compensation, buys, sells, negotiates or otherwise deals in real estate contracts, including assignable contracts, on two or more occasions in a 12-month period. The change came from HB 917 and SB 358 of 2024, which also repealed 54.1-2101, and the Board's conforming regulations took effect November 1, 2024. The practical effect is a one-deal allowance: an unlicensed investor can complete a single wholesale assignment in a rolling 12-month window, and anything more is regulated brokerage. No 2025 or 2026 Virginia wholesaling bill was found, so the 2024 rule remains the operative one. Virginia's recordation taxes and settlement-agent system also shape how deals close.

Virginia at a glance

Status
License required
License required to wholesale?
Yes — see requirements
Seller cancellation / disclosure rights?
No wholesaling-specific right found
Key law
Va. Code 54.1-2100 (effective Jul 1, 2024)
Regulator
Virginia Department of Professional and Occupational Regulation (DPOR), Real Estate Board
Transfer tax
The seller pays a grantor tax of 50 cents per $500 (a 25-cent state share and a 25-cent local share), and the buyer pays state recordation tax, implied by local guidance to be 25 cents per $100, plus a local recordation tax that is often one-third of the state rate; confirm current rates with the circuit court clerk.
Closings
Virginia closings are conducted by a settlement agent, who may be a Virginia attorney, a title insurer or appointed title agent, a licensed real estate broker, or a financial institution; the Bureau of Insurance regulates lay settlement agents and has said split settlements are not authorized.
Last reviewed
Nov 6, 2026

What Virginia requires from wholesalers

  • Get a Virginia broker license before a second assignable-contract deal in any rolling 12-month period
  • Do not market the property or act for others without a license
  • Disclose your equitable interest in writing to the seller and assignee (best practice)

How to wholesale legally in Virginia: step by step

  1. 1

    Count your deals on a rolling 12-month calendar, not by calendar year. Any second occasion of dealing in assignable contracts for compensation within 12 months brings you inside the broker definition in Va. Code 54.1-2100.

  2. 2

    Get licensed through DPOR before that second deal if you plan to wholesale regularly. Start with the 60-hour Principles of Real Estate course and confirm with the Board which license level fits your business model.

  3. 3

    Contract as a principal and include an assignment clause. Even on your one unlicensed deal, avoid marketing the property itself or acting for the seller, which is licensed activity in any case.

  4. 4

    Disclose your equitable interest in writing to both the seller and the assignee. Virginia does not require a specific wholesaling disclosure, but written notice is a recommended practice and supports your role as a principal.

  5. 5

    Choose a settlement agent early. In Virginia that can be an attorney, a title agent, a broker or a financial institution, and the Bureau of Insurance says one settlement should not be split among multiple agents.

  6. 6

    Budget for recordation taxes before you make an offer. The seller's grantor tax and the buyer's recordation tax are calculated on the greater of price or value, and a double close triggers both of them twice.

Seller protections and penalties in Virginia

Penalties: Unlicensed brokerage is subject to enforcement by DPOR / the Virginia Real Estate Board.

Assignment vs. double close in Virginia

Virginia's 2024 rule counts dealings in assignable contracts, so it shapes the assignment exit most directly: one assignment in 12 months is permitted without a license, and the second requires one. Whether buying and reselling through a double close counts as an 'occasion' of dealing in contracts is a question to put to a Virginia attorney before relying on it as a workaround. Costs differ as well. An assignment produces one deed, with the seller paying the 50-cents-per-$500 grantor tax and the end buyer paying state and local recordation tax. A double close produces two deeds: you pay recordation tax as buyer on the first leg and grantor tax as seller on the second, on top of two sets of settlement fees. Each closing needs a qualifying settlement agent, and the Bureau of Insurance's 2022 guidance says split settlements are not authorized, so expect one agent to handle each closing from start to finish.

Transfer tax: The seller pays a grantor tax of 50 cents per $500 (a 25-cent state share and a 25-cent local share), and the buyer pays state recordation tax, implied by local guidance to be 25 cents per $100, plus a local recordation tax that is often one-third of the state rate; confirm current rates with the circuit court clerk.

Closings: Virginia closings are conducted by a settlement agent, who may be a Virginia attorney, a title insurer or appointed title agent, a licensed real estate broker, or a financial institution; the Bureau of Insurance regulates lay settlement agents and has said split settlements are not authorized.

Local rules: Local recordation add-ons vary by city and county; Alexandria, for example, lists its local recordation tax as one-third of the state rate, paid by the purchaser.

Compare your net both ways with the double close calculator. If you double close, transactional funding can cover the A-to-B purchase.

Compliance mistakes to avoid in Virginia

  • Doing a second wholesale assignment within 12 months of the first without a license, which falls inside the 2024 broker definition.
  • Counting deals by calendar year instead of a rolling 12-month period, so two deals in January and the following December still count together.
  • Assuming a double close automatically avoids the two-occasion rule without confirming how the Board treats buying and reselling contracts.
  • Overlooking the double recordation and grantor taxes on a double close when calculating your spread.

Recent changes to Virginia wholesaling law

  1. Real Estate Board conforming regulations

    Board regulations conforming to the 2024 broker-definition changes took effect.

  2. HB 917 / SB 358 take effect

    Broker definition expanded to cover dealing in assignable contracts 2+ times in 12 months; 54.1-2101 repealed.

Real estate licensing in Virginia

Real estate licensing in Virginia is overseen by Virginia Department of Professional and Occupational Regulation (DPOR), Real Estate Board.

Entry-level salesperson applicants complete a 60-hour Board-approved Principles of Real Estate course and pass the PSI national and state exams, then finish 30 hours of post-licensing education within a year; the wholesaling rule falls under the broker definition, so confirm with DPOR which license your activity needs.

Running the numbers on a Virginia deal

Compliance is half the job; pricing is the other half. Use the wholesale MAO calculator to work backward from your end buyer's costs, estimate value with the ARV calculator, budget repairs with the rehab cost estimator, and sanity-check with the 70% rule. New to the math? Start with how to calculate MAO.

Most Virginia end buyers use a lender. Jaken Finance Group funds fix-and-flips up to 100% of total cost on qualified deals, typically in 7–10 business days on a complete file — see Virginia investor loans or our end-buyer financing guide.

Virginia wholesaling FAQ

Is wholesaling legal in Virginia?

Yes, with a limit. Since July 1, 2024, anyone who deals in real estate contracts, including assignable contracts, for compensation on two or more occasions in a 12-month period meets the definition of a real estate broker. You can do one wholesale deal in a rolling 12 months without a license; more requires licensure.

Do you need a license to wholesale in Virginia?

You need one before your second assignable-contract deal within any 12-month period. The rule comes from HB 917 and SB 358 of 2024, which amended Va. Code 54.1-2100. Acting for others or marketing a property you do not control requires a license regardless of how many deals you do.

What changed in Virginia's wholesaling law in 2024?

HB 917 and SB 358 took effect July 1, 2024. They expanded the definition of 'real estate broker' to include dealing in assignable contracts two or more times in 12 months and repealed Va. Code 54.1-2101. The Real Estate Board's conforming regulations took effect November 1, 2024.

How many wholesale deals can I do in Virginia without a license?

One per rolling 12-month period. The statute brings anyone who deals in real estate contracts for compensation on two or more occasions within 12 months into the broker definition. Track dates carefully, since the window runs from each deal rather than resetting on January 1.

Who pays transfer taxes in Virginia?

The seller pays the grantor tax of 50 cents per $500 of value, split between state and local shares. The buyer pays the state recordation tax and any local recordation tax, which is often one-third of the state rate. Both are calculated on the greater of the price or the property's value.

Who can close a real estate deal in Virginia?

Under the Real Estate Settlement Agents Act, a settlement agent can be a Virginia attorney, a licensed title insurer or appointed title agent, a licensed real estate broker, or a financial institution. The Bureau of Insurance regulates lay settlement agents and has stated that split settlements are not authorized.

How do you get a real estate license in Virginia?

Salesperson applicants finish a 60-hour Principles of Real Estate course approved by the Board, pass the national and state portions of the PSI exam, and apply through DPOR. New salespeople complete 30 hours of post-licensing education within their first year. Broker licensing involves additional requirements.

Statutes, rules and sources

  • Va. Code 54.1-2100

    Real estate broker definition, as amended by 2024 Acts ch. 459 (HB 917) and ch. 621 (SB 358)

    Effective Jul 1, 2024Read the text

Last reviewed Nov 6, 2026. This page summarizes public sources for general information and isn't legal advice. Local rules may also apply — confirm with a licensed Virginia real estate attorney before you contract.

End-buyer financing · Jaken Finance Group

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Compliance gets you to the closing table. Financing gets your buyer through it. Send Virginia buyers to Jaken Finance Group for fix-and-flip, DSCR and bridge loans — and use transactional funding when a double close is the cleaner path.

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