Wholesale properties in Greenville, SC: South Carolina's 2024 wholesaling rules, ZIP codes and deal math
South Carolina changed the rules for wholesaling in 2024. Under the updated Real Estate Practice Act, marketing a house you have under contract but don't own is treated as real estate brokerage, which requires a license, and licensees are barred from wholesaling.
This guide explains what the law says, what investors in Greenville, Greer, Simpsonville and Mauldin can still do legally, which ZIP codes landlords watch and how to price a deal when you take title first.
How investors buy below market in Greenville County
Traditional wholesaling means putting a house under contract and marketing it to a cash buyer before you own it. In South Carolina, that marketing step is now the problem, so most investors either take title first or work through a licensee.
Greenville County has about 583,000 residents and 253,000 housing units (Census, 2025 estimates). About 69% of homes are owner-occupied, the median owner-occupied home value is about $299,000 and the median gross rent is about $1,262 (Census, 2020–2024).
Steady population growth in Greenville, Greer, Simpsonville and Fountain Inn keeps demand from both landlords and flippers strong.
- Marketing a house you only have under contract
- Posting photos, address or details of it
- Collecting a fee for an assignment you advertised
- Buy, then resell a house you own
- Get a license or partner with a broker
- Buy and hold or flip yourself
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Is wholesaling legal in South Carolina?
Only in a narrow sense. Assigning a contract is not itself illegal, but marketing the property before you own it, for compensation, is now treated as brokerage.
Act 204 defines wholesaling
The 2024 update to the Real Estate Practice Act (H. 4754, law since May 21, 2024) defines wholesaling in Section 40-57-30 as holding a contract to buy a home and marketing it to another buyer before taking ownership.
- Section 40-57-30
- Residential property
Licensees may not wholesale at all.
Marketing the contract is nearly impossible
Section 40-57-135 lets you advertise a contract position only if you don't market the property itself. The Real Estate Commission's November 2024 opinion says photos, addresses, descriptions and similar details would likely violate that rule.
- Section 40-57-135
- Nov. 2024 opinion
A disclaimer does not fix it.
Fines and citations
The Act raised the maximum fine to $10,000 per violation and lets investigators issue citations to unlicensed people as well as licensees.
- Up to $10,000
- Citations
Get advice before you market anything.
What investors still do in Greenville County
Buy the house and close first, then resell a property you own; get a real estate license and work as an agent or investor-agent; partner with a licensed broker who markets the deal; or keep the property as a flip or rental. Assigning to your own LLC or a partner, with no marketing, is also outside the definition.
This is general information, not legal advice. Have a South Carolina real estate attorney review your plan before you contract with sellers.
What can look like illegal wholesaling in South Carolina
- 1Posting a contracted house on Facebook groups or the MLS
- 2Emailing a buyers list with photos and an address
- 3Describing the property, rents or neighborhood to buyers
- 4Relying on a "contract only" disclaimer
- 5Doing it as a licensee for your own account
- 6Pressuring sellers or hiding your plans
Shannon Thompson
Investor · Joe Homebuyer of Atlanta
Watch Shannon Thompson share their experience using ForeclosuresDaily.com.
Motivated sellers behind Greenville County deals
The sellers have not changed, even if the deal structure has. Most want speed and certainty over top price.
Inherited and probate homes
Heirs often want a quick, as-is sale. See probate real estate leads.
Pre-foreclosures
South Carolina forecloses through the courts, and Greenville County sales are held by the Master-in-Equity, which gives owners time to sell first.
Older mill-village homes
Older homes near downtown Greenville and in mill villages often need updates that owners can't fund.
Homes needing repairs
Roof, foundation and HVAC problems push owners toward as-is cash sales.
Tired landlords
Small landlords with older rentals often sell to investors rather than renovate.
Tax sale properties
Delinquent taxes lead to the county's annual tax sale, and owners often sell before or during redemption.
Andrew Litchfield
Webinar host
Andrew Litchfield hosted a ForeclosuresDaily.com monthly webinar for real estate investors.
The Greenville County investor market in numbers
Seller searches show steady demand for fast sales: "we buy houses Greenville SC" draws about 480 searches a month and "sell my house fast Greenville SC" about 210. "Greenville County tax sale" draws about 110.
median owner-occupied home value in Greenville County (Census)
Greenville County ZIP codes landlords watch
Median listing price and gross rent yield
Figures are approximate. Search volumes are recent monthly US estimates, and prices and rents change month to month. Verify current data before making an offer.
ForeclosuresDaily.com hosts monthly webinars with investors such as Carolynn Castillo, who share how they find and close off-market deals.
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Anthony Coletti
Real estate investor
Watch Anthony Coletti share their experience using ForeclosuresDaily.com.
What does a Greenville County deal look like when you take title first?
Because you close before you resell, you carry two sets of closing costs and some risk. Start from what an end buyer will pay, then subtract your costs to find your purchase price.
Example only. Costs include South Carolina's deed recording fee on each transfer, title work and a short hold. Use sold comparables, not list prices.
Use sales, not list prices
Base the ARV on recent sales of similar homes nearby.
Line up funding
Closing first means you need cash or a short-term lender.
Leave the buyer a margin
A spread that is too large is the most common reason a deal does not sell.
Jeremy Resmer
Webinar host
Jeremy Resmer hosted a ForeclosuresDaily.com monthly webinar for real estate investors.
How to buy investment properties in Greenville County
- 1
Go direct to sellers
Off-market lead lists let you reach probate, pre-foreclosure and tax-delinquent owners yourself, with no middleman.
- 2
Watch Master-in-Equity sales
Greenville County foreclosure sales are held by the Master-in-Equity. Check the current sale list and deposit rules before you bid.
- 3
Work with investor-friendly agents
Licensed agents can market off-market and distressed properties legally.
- 4
Check who you buy from
If someone offers a house they don't own, ask how they're complying with Act 204 and confirm the seller on the county record.
- Title search and lien check
- Open permits and code cases
- Flood zone and insurance quote
- Tenant status if occupied
- Recent sold comparables
Compare Charlotte, NC or see how a rebuilt guide covers wholesaling in Dallas.
Antonio Stringfield
Probate investor · Los Angeles
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Nancy Wallace-Laab
Investor · nearly 20 years
Nancy focuses on the best outcome for both the seller and the investor, drawing on nearly 20 years of real estate investing experience.
Phillip Warrick
Full-time investor since 2003
Full-time real estate investor since 2003, with over 20 years of experience.
Wholesaling real estate in South Carolina: FAQ
Is wholesaling illegal in South Carolina?
Not entirely, but it is heavily restricted. Marketing a house you have under contract but don't own, for compensation, is treated as brokerage and requires a license, and licensees may not wholesale.
When did South Carolina's wholesaling law change?
The updated Real Estate Practice Act (Act 204, H. 4754) became law on May 21, 2024. The Real Estate Commission issued guidance on wholesaling and contract assignments on November 14, 2024.
Can I still assign a contract in South Carolina?
An assignment alone is not wholesaling, for example to your own LLC or a partner. It becomes a problem when you market the property and expect a fee.
What's the legal alternative to wholesaling?
Close on the property first and resell a house you own, get a real estate license, partner with a broker, or flip or rent the property yourself.
How do foreclosure sales work in Greenville County?
South Carolina forecloses through the courts. Sales are conducted by the county Master-in-Equity, usually monthly. If the lender seeks a deficiency judgment, bidding can stay open for 30 days after the sale.
What are the penalties for illegal wholesaling?
The Practice Act allows fines of up to $10,000 per violation, and investigators can issue citations to unlicensed people.
Have a question about a Greenville deal? Contact us.
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