Oregon’s HB 4058 Requires Wholesalers to Have a High School Diploma, Register with the State, Undergo Background Checks, and Provide Seller Disclosures, starting July 1, 2025.
PORTLAND, OR – June, 2025 – With Oregon House Bill 4058 taking effect July 1, real estate wholesalers across the state will navigate new regulatory requirements, including mandatory registration, comprehensive background checks, and explicit disclosures to homeowners seeking cash offers. The legislation mandates that companies engaged in wholesaling must officially register with the Real Estate Commissioner, submit a $300 registration fee, successfully pass background screening, provide written role disclosures to all transaction parties, and incorporate specific disclosures in all property marketing materials.
HB 4058 additionally provides sellers with a crucial three-day rescission period after receiving the required disclosures, allowing homeowners adequate time to carefully evaluate their options before becoming legally bound to any sales agreement.
Wholesaling involves securing a contract to purchase property at a fixed price, typically in “as-is” condition, then transferring that contract to another buyer for a fee, without serving as the seller’s fiduciary representative. While this approach offers valuable solutions for many sellers with severely distressed properties, the potential for substantial profits has attracted numerous inexperienced operators who often lack sufficient capital reserves and cannot fulfill their contractual obligations.
Though some Oregon wholesalers have criticized the legislation as detrimental to their business model, several established wholesaling companies have expressed support for these enhanced consumer protection measures.
“Oregon is raising the bar, and it’s long overdue,” said Scott Dalinger, owner of Better Off Home Buyers. “For far too long I’ve seen wholesalers – particularly new ones – run roughshod over unsuspecting sellers. They’ll put homes under contract at unrealistic prices, with no intent or ability to perform, only to pull the rug out from under the seller at the last minute when they can’t find a buyer”
Dalinger added, “There are large wholesaling operators from other states who have never even set foot in the state of Oregon. They bombard our homeowners with aggressive marketing, and make empty promises to buy their houses – with no accountability. When they fail to bring in a buyer, they cancel the contract and disappear. It’s especially heartbreaking when the seller is elderly, or already packed up and ready to move. This new legislation goes a long way to weed out the bad actors in the industry.”
To illustrate the importance of working with a qualified homebuying company, Dalinger recounted a recent case in which an out-of-state seller needed to liquidate her deceased brother’s property in probate.
“The seller was in so much grief that she could not bring herself to set foot on the property. And to make matters worse, the house was occupied by a squatter, who falsely tried to claim ownership. We coordinated with attorneys and the title company, resolved the squatter issue, and closed on time, at the original agreed-on price. A fly-by-night wholesaler would have never been able to close that deal.”
The seller later wrote, “Throughout this complex process, Dylan and Scott demonstrated exceptional professionalism, patience, kindness, and efficiency. Their trustworthy approach made an otherwise difficult situation far more manageable. The transaction was finalized smoothly with Chicago Title, and I couldn’t be more pleased with the outcome.”
Better Off Home Buyers applauds HB 4058’s effort to raise industry standards and create a more secure, transparent experience for sellers across Oregon.
About Better Off Home Buyers:
Established in 2019, Better Off Home Buyers is a trusted, BBB-accredited home purchasing company with an A+ rating based in Portland, Oregon. We specialize in buying properties in any condition for cash throughout Oregon and Southwest Washington. Our mission is to deliver honest, swift, and straightforward solutions for homeowners seeking to sell their properties without the hassle of real estate agents, costly repairs, or commission fees.
Struggling with a challenging property that needs to sell quickly? Reach out to us today for a fair cash offer and experience our hassle-free process firsthand.
Offers:
📧 dylan@coast2coasthousebuyers.com
📞 Call/text: 503-914-8090
🌐 www.betteroffhomebuyers.com
Media Inquiries:
Scott Dalinger
Owner, Better Off Home Buyers
scott@coast2coasthousebuyers.com
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