The Department of Commerce, whose job it is to regulate licensure of real estate brokers, recently released the first-quarter 2014 disciplinary actions. We’re beginning to see the consequences of the new crack-down attitude of the ODC against unlicensed real estate wholesaling, which I have discussed earlier in this article. This is some really bad news for wholesalers.
Chad Fields, a person not licensed under Ohio Revised Code 4735, Delaware, Ohio, was ordered to pay a civil penalty of $930,000.00 for committing between the dates of about November 14, 2010 through on or about May 31, 2013, 930 violations of 4735.02…
GOA Realty, LLC, Cleveland, Ohio, a company not licensed under Ohio Revised 4735 was ordered to pay a civil penalty of $1,499,000.00 for committing between the period of August 23, 2010 until on or about March 17, 2011, 149 violations of 4735.02…
Our Wives Are In Charge, LLC, Akron, Ohio, a company not licensed under Ohio Revised Code Chapter 4735 was ordered to pay $82,000.00 for committing 82 violations of RC 4735.02…
Paul Marcel-Rene, Akron, Ohio, a person not licensed under Ohio Revised Code 4735, Akron, Ohio was ordered to pay a civil penalty of $82,000.00 for committing 82 violations of RC 4735.02…
Delitha Gail Sparks, a person not licensed under Ohio Revised Code 4735, Cleveland, Ohio, was ordered to pay a civil penalty of $1,499,000.00 for committing between the period of August 23, 2010 until on or about March 17, 2011, 149 violations of 4735.02…
Wow, $1.5 million dollars for advertising on Craigslist. Be careful out there, wholesalers.
Christian Carson
Christian Carson is the founding attorney of Carson Law Firm LLC in Cleveland, Ohio. He holds degrees in law and accountancy from Case Western Reserve University. With a strong background in accounting and finance, Christian focuses on real estate, probate, and business law. He is committed to providing practical legal solutions for individuals and small business owners.
