Investors and Wholesalers

ALL AIF POA AND WHOLESALERS PLEASE READ!!!

Advice for handling calls from agents and buyers.

You are NOT AGENT – do not be creative as you are the AGENT of the company you work for or an AGENT for the seller – YOU ARE IN NOT AN AGENT. States are cracking down on companies who make it sound like they are brokers or agents. They are going after companies as “Doing business without a license”.
Be HONEST with what your role is – are you an AIF or POA – let the called know. If you hide this until further in the process, you can lose a deal and they have all the reason to back out.

AIF and Wholesale DOCS

Attorney in Fact

What is an Attorney in Fact?

An attorney-in-fact in real estate is a designated agent who has the legal authority to sign documents, buy, sell, or manage property on behalf of another person (the principal) using a special document. They do not need to be a licensed lawyer.
Not a Lawyer: An attorney-in-fact is an ordinary person chosen by the principal, often a trusted family member or friend. They are distinct from an attorney-at-law.
The authority comes strictly from a written, signed, and usually notarized legal document that outlines what the agent can and cannot do.

Here is a copy of an attorney in fact. We are not providing any legal advice, just access to a form that will be required in many states and Multiple Listing Services to list if you are not the owner of record. This may need to be notarized.

AIF INSTRUCTIONS

AIF FORM

Ohio Wholesale Disclosure

What is an Ohio Wholesale Disclosure?

An Ohio wholesale disclosure is a mandatory written statement required under Ohio Revised Code § 5301.95 that real estate wholesalers must provide to a home seller before entering a binding purchase contract. It explicitly states that the buyer is a wholesaler intending to assign the contract for a profit rather than personally live in or flip the home, protecting consumers by ensuring transparency.

Attached is a form all Attorney in Fact and Wholesalers will need to get signed in order to list on the Multiple Listing Service. We are not providing legal device, just access to a document required for Ohio MLS listings by AIF/POA/Wholesalers.

Ohio Wholesale Disclosures 1

Ohio Wholesale Disclosure 2

FAQ For Investors and Wholesalers

Can an investor list using an MLS Only listing?

Yes, investors can list real estate on the multiple listing service.

Do I have to own the property I list?

No, you can use an Attorney-In-Fact or Power or Attorney and help the “Seller of Record” place their listing on the multiple listing service.
You will need to check with the real estate broker before listing. Some states and some MLS systems do not allow AIF/POA/NOVATION/ASSIGNMENT listings.
There are exceptions to this rule – Arkansas is one of the states you cannot be NON-OWNER – you must be the person or company who OWNS and has the deed to the property to list.

What is an AIF?

An attorney-in-fact in real estate is a designated agent who has the legal authority to sign documents, buy, sell, or manage property on behalf of another person (the principal) using a special document. They do not need to be a licensed lawyer.
Not a Lawyer: An attorney-in-fact is an ordinary person chosen by the principal, often a trusted family member or friend. They are distinct from an attorney-at-law.
The authority comes strictly from a written, signed, and usually notarized legal document that outlines what the agent can and cannot do.

Do I need to have my AIF or POA notarized?

This is on a case by case basis depending on the state and the multiple listing service. For the states we cover please click on STATES WE ARE LICENSED IN. For all other states we please click on the CONTACT PAGE and send us a message.