Wholesaling in Non-Disclosure States: The Complete Guide

Non-disclosure states are unique in U.S. real estate because property sale prices are not part of the public record. For real estate investors (especially wholesalers), this lack of transparency makes it harder to run comps, calculate after-repair values (ARVs), and determine maximum allowable offers (MAOs).

This guide is designed specifically for investors and wholesalers who want to succeed in these challenging markets. We’ll cover which states are non-disclosure, why they matter, the biggest challenges they present, and the strategies and tools you can use to stay competitive.

Use the jump links below to explore key sections of this comprehensive resource on wholesaling in non-disclosure states:

• What Is a Non-Disclosure State?
• List of Non-Disclosure States
• Why Non-Disclosure States Matter for Investors
• Challenges of Wholesaling in Non-Disclosure States
• Step-By-Step: How to Wholesale in Non-Disclosure States
• Finding Comps & Estimating ARV
• Legal & Licensing Considerations
• Tools & Resources
• Pro Tips & Best Practices
• FAQs About Non-Disclosure States & Wholesaling
• Final Thoughts on Wholesaling in Non-Disclosure States

What Is a Non-Disclosure State?

A non-disclosure state is a state where the sale price of a property is not made available to the public after closing. This means that when a home sells, the exact purchase price isn’t recorded with the county for anyone to look up. By contrast, in a disclosure state, sale prices are considered public information and can usually be found on county assessor websites, recorder’s offices, or other government databases. For real estate investing, especially wholesalers, this difference has a big impact on how you research deals.

To put it simply: in disclosure states, it’s much easier to pull up the sales history of a property and see what it sold for. In non-disclosure states, that information is kept private to protect the buyer’s and seller’s privacy. Lawmakers in those states believe sale prices shouldn’t be used freely for marketing or tax assessments, so they restrict access to that data. While this protects consumers, it makes analyzing real estate deals more challenging.

Here’s a quick example to make the difference clear. If you’re investing in California (a disclosure state), you can hop online and instantly find out that a home sold last month for $450,000. If you’re in Texas (a non-disclosure state), that same sale price won’t be available on public record. Instead, you’d need to get it from a real estate agent with MLS access, hire an appraiser, or subscribe to a paid data service. Without those resources, it’s much harder to figure out comps, calculate after-repair value (ARV), and make confident offers.

For wholesalers, knowing whether you’re in a disclosure or non-disclosure state is critical. It determines whether you can easily see what properties are selling for—or whether you’ll need to build relationships, pay for data, and use more creative strategies to run your numbers.

• No public record real estate prices: in non-disclosure states, sale prices are kept private.
• Disclosure vs. non-disclosure states: disclosure states make sale prices public, non-disclosure states keep them private.
• Privacy protection: non-disclosure laws are designed to protect buyers and sellers.
• Investor impact: wholesalers must rely on MLS access, appraisers, or paid data sources to get comps and values.
• Example: California (disclosure) vs. Texas (non-disclosure).

List of Non-Disclosure States (2025)

Here’s the current non-disclosure states list investors ask about most. These states keep sale prices out of the public record, which affects comps and ARV work. The table flags disclosure status, whether assessed values are available from county sites, and if you’ll need MLS for sold data. (Note: some areas show partial practices; always verify locally.)

Why Non-Disclosure States Matter for Investors

For anyone serious about real estate investing, it’s important to understand why non-disclosure states matter. In these states, property sale prices are not part of the public record, which means investors can’t just look up sold data online. This creates a unique landscape: fewer new investors know how to analyze deals, so competition is often lighter. For wholesalers who can figure out how to work around the data gap, non-disclosure markets can actually offer an edge and open the door to highly profitable opportunities.

But the advantages come with equal challenges. The biggest drawback is the risk of inaccurate valuations. Without verified sold comps, it’s easy to overestimate after-repair value (ARV) or set your maximum allowable offer (MAO) too high. That can quickly turn a potential deal into a loss. To wholesale successfully in these markets, investors need to rely on strong relationships with real estate agents who have MLS access, appraisers who can provide certified reports, or trusted data platforms that compile private transaction data. It’s not impossible—it just requires extra diligence and more conservative underwriting.

• Advantages of non-disclosure states: less competition, unique wholesaling opportunities, and access to motivated sellers that other investors might overlook.
• Challenges of non-disclosure states: harder to find comps, higher risk of mispricing, and dependency on MLS partnerships or paid tools.
• Impact on wholesaling: getting accurate ARV and MAO numbers requires more steps, stronger industry relationships, and a disciplined approach to deal analysis.

For example, let’s look at Texas, one of the largest non-disclosure states in real estate. Suppose you’re wholesaling a three-bedroom property in Dallas. In a disclosure state like California, you could check the county website and instantly see what similar homes sold for in the last 90 days. In Texas, however, that information isn’t public.

To value the deal correctly, you’d need to partner with a Realtor who can pull recent MLS comps, or pay for a service like PropStream or BatchLeads to estimate sales data. Without those resources, you might base your offer on tax assessments or automated value models (AVMs), which often undervalue or overvalue properties—and that could make or break your wholesale deal.

Challenges of Wholesaling in Non-Disclosure States

Non-disclosure states can be profitable for skilled investors, but they also come with obstacles that beginners need to understand. The biggest challenge is access to accurate information. Because property sale prices are not part of the public record, you can’t simply look up what a house sold for online. In most cases, only licensed real estate agents with MLS access, appraisers, or paid data providers can see that information. Without it, wholesalers may struggle to run comps and calculate after-repair value (ARV) with confidence.

Licensing is another common hurdle. In some states, wholesalers are not allowed to advertise or market a property unless they actually own it or hold a real estate license. That means you can’t post a property for sale on social media or listing sites the same way an agent would. Instead, you can only market your contractual interest—your right to purchase the property under contract. This distinction can be confusing at first, but it’s critical to avoid legal issues.

Let's take a look at some of the most common challenges:

• Comps are harder to get: sale prices are private, so investors must rely on MLS, appraisers, or paid tools.
• Licensing challenges: some states require you to market only your contract, not the property itself, unless you have a license.
• Risk of overpaying: limited or unreliable data can lead to inflated offers that eat away at profits.
• Extra due diligence: success requires conservative numbers, trusted relationships, and multiple data checks.

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Step-By-Step: How to Wholesale in Non-Disclosure States

Wholesaling is the process of putting a property under contract at a low price, then assigning that contract to another investor (usually a cash buyer) for a fee. In most states, you can easily check sold prices to know what a property is worth. In non-disclosure states, it’s trickier because those sale prices aren’t public. Here’s a clear, beginner-friendly breakdown of how to wholesale in non-disclosure states, one step at a time.

1. Verify legality & licensing requirements: Before you do anything, make sure wholesaling is legal in your state and city. Some states let you wholesale freely, while others require a real estate license if you market contracts in certain ways. A quick consultation with a real estate attorney or checking your state’s real estate commission website can keep you out of trouble. Think of this step as making sure you know the “rules of the game” before you start playing.
2. Get MLS access or partner with licensed agents: The Multiple Listing Service is a private database that only licensed agents and appraisers can access. In non-disclosure states, this is often the only way to see exact sold prices. If you’re not licensed, team up with an agent who understands investing. They can pull comps for you or even let you run your own searches through their account. Some wholesalers eventually get their license just to have direct access to MLS data.
3. Pull comps via alternative data sources: If MLS access isn’t available, you’ll need to get creative. County tax assessor websites usually show assessed values, which can give you a ballpark estimate but not the true sale price. Paid tools like PropStream, BatchLeads, and DealMachine gather data from multiple sources and estimate sold values. These aren’t perfect, but they can help you get closer to the real numbers. The key is to never rely on just one source—always double-check your comps.
4. Estimate ARV & MAO conservatively: ARV stands for “After-Repair Value,” or what the property will be worth after it’s fixed up. MAO is your “Maximum Allowable Offer,” the most you can pay while still leaving room for profit. Since comps in non-disclosure states are harder to confirm, always err on the side of caution. Use active listings, average price per square foot, and conservative discount formulas to set your after-repair value and maximum allowable offer.
5. Market the contract legally: Remember, in wholesaling, you’re selling your contract, not the property itself. That means your advertising should make it clear that you’re assigning your rights in the purchase agreement. In many states, posting the property online “like a Realtor” without a license is illegal. Instead, focus on building a strong cash buyer list—investors who understand wholesaling and are ready to close quickly when you bring them a deal.
6. Use double closing if necessary: In some cases, assignments aren’t allowed, or the seller/buyer isn’t comfortable seeing your assignment fee on the paperwork. A “double close” solves this problem. Here’s how it works: you close on the property first (using transactional funding or your own money), then immediately resell it to your end buyer, often on the same day. This hides your assignment fee and keeps both sides satisfied. It’s more paperwork and a little extra cost, but it can save deals that wouldn’t work otherwise.
7. Close with a wholesaler-friendly title company: Not all title companies understand wholesaling. You’ll want to find one that works with investors regularly. Ask around in local real estate meetups or investor groups—other wholesalers can recommend title companies that know how to process assignments and double closes smoothly.
8. Document disclosures: Always be upfront about your role. In many states, you’re required to disclose that you are not the property owner and that you may collect an assignment fee. Being transparent keeps your deals legal and helps build trust with both sellers and buyers.

To make the process even easier to follow, here’s a simple flowchart-style guide you can use as a quick reference. It shows the sequence of steps from start to finish, so you’ll always know what comes next in a wholesale deal—even in the more challenging non-disclosure states.

Wholesaling in non-disclosure states takes more effort than in disclosure states, but the payoff can be worth it. By following this step-by-step process and using the flowchart as a quick reference, you’ll have a clear roadmap to navigate these markets with confidence—even as a beginner.

Finding Comps & Estimating ARV in Non-Disclosure States

One of the hardest parts of wholesaling in a non-disclosure state is figuring out what a property is really worth. Since sale prices aren’t public record, running comps in a non-disclosure state takes extra creativity. The goal is still the same: estimate an accurate ARV (After-Repair Value) so you can back into your Maximum Allowable Offer (MAO). Here are the most common methods investors use to get the numbers right—along with their pros and cons.

In the end, ARV calculation in non-disclosure states should never rely on a single method. The best investors combine MLS data (when possible) with CMAs, tax assessments, and sometimes even appraisals to build a layered picture of a property’s true value. This conservative, multi-angle approach reduces the risk of overpaying and keeps your wholesale deals profitable.

Legal & Licensing Considerations

Most wholesaling laws in non-disclosure states still allow investors to wholesale properties, but the way you advertise matters. In many cases, you cannot legally market the property itself unless you actually own it or hold a real estate license. Instead, you can only market your contractual rights—the agreement you have to purchase the property.

Certain states, including Arizona, Illinois, Oklahoma, and New York, have introduced restrictions that make it harder to advertise or assign contracts without a license. Staying compliant is one of the most important parts of wholesaling.

Another factor is whether you use an assignment of contract or a double closing. Assignments are simpler, but they publicly show your assignment fee on the closing documents, which some buyers and sellers don’t like. A double closing—where you briefly take ownership of the property before reselling it—keeps that fee private. This can be especially useful in competitive markets or states with stricter real estate assignment laws. Because regulations change frequently (for example, new updates in Illinois, Oklahoma, and Arizona in 2025), it’s smart to check the latest requirements before moving forward.

• Advertising restrictions: In many states, you may only market your contract, not the property itself, unless licensed.
• License requirements: States like Illinois, Oklahoma, Arizona, and New York require extra caution when wholesaling without a license.
• Assignment vs. double closing: Assignments are simpler but reveal your fee; double closings cost more but keep fees private.
• Evolving laws: Wholesaling regulations are updated regularly; 2025 saw changes in states such as Illinois and Oklahoma.
• Seek legal counsel: Consult a real estate attorney to confirm state-specific licensing requirements and contract rules.

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Tools & Resources for Non-Disclosure State Wholesalers

In non-disclosure states, having the right data sources and partnerships can make the difference between a winning wholesale deal and a costly mistake. Since sold comps aren’t publicly available, wholesalers must lean on a mix of MLS alternatives, paid platforms, and professional networks to fill the gaps. Below is a list of the most reliable tools for non-disclosure state investors and how they can help.

No single resource is perfect, but by combining MLS partnerships with technology tools, tax roll data, and ongoing education, you can create a system that produces accurate comps and stronger deal analysis. Here’s a breakdown of the most useful real estate investing software and community resources for wholesalers in these markets.

Successful wholesalers in non-disclosure states rarely depend on a single tool. By combining the accuracy of MLS data with the reach of paid software, the accessibility of public records, and the support of education and networking, you’ll have everything you need to compete in these challenging markets.

Pro Tips & Best Practices

Wholesaling in non-disclosure states requires extra diligence and a sharper approach than in disclosure markets. To help you succeed, here are some proven real estate wholesaling advice strategies and best practices for wholesaling that experienced investors rely on every day.

• Build strong relationships: Connect with agents, title companies, and appraisers who understand investing in non-disclosure states—they’ll be your most reliable data sources.
• Cross-check values: Never rely on just one tool. Compare MLS pulls, tax rolls, and paid platforms to verify comps and ARVs.
• Be conservative in offers: Since pricing data is limited, always leave extra room in your numbers to protect against surprises.
• Document everything: Keep thorough records of contracts, disclosures, and communication to stay compliant and avoid disputes.
• Stay updated on laws: Regulations change frequently—monitor state-level updates and adjust your strategies accordingly.
• Network consistently: Join local REI associations and investor groups to learn best practices from others working in your market.

These best practices for wholesaling in non-disclosure states help reduce risk and build long-term success. By following these tips for non-disclosure state investing, you’ll position yourself ahead of less-prepared competitors. Remember, the right real estate wholesaling advice is to stay conservative, stay compliant, and keep learning as markets and laws evolve.

FAQs About Non-Disclosure States & Wholesaling

Still have questions about how wholesaling works in non-disclosure states? You’re not alone. Below, we’ve answered some of the most common non-disclosure state FAQ queries investors ask. These quick explanations will help clear up confusion and give you straightforward guidance on how to wholesale real estate in these unique markets.

Which states are non-disclosure and why?

As of 2025, 12 states are considered non-disclosure: Alaska, Idaho, Kansas, Louisiana, Mississippi, Montana, New Mexico, North Dakota, South Dakota, Texas, Utah, and Wyoming. These states keep sale prices private to protect buyer and seller privacy and limit how transaction data is used for taxation or marketing.

Is wholesaling legal in all non-disclosure states?

Yes, wholesaling is generally legal in non-disclosure states, but you must follow state laws carefully. In most cases, you can assign contracts, but advertising the property itself without a license may not be allowed. Always market your contractual rights, not the property, to stay compliant.

How do I find comps without MLS access?

Without MLS access, you can pull non disclosure comps from paid platforms like PropStream or BatchLeads, check county tax records, or work with appraisers. While less precise than MLS data, combining multiple sources helps you estimate values more accurately.

Do I need a real estate license to wholesale in a non-disclosure state?

Not always. Most non-disclosure states allow wholesaling without a license as long as you market your contract and not the property itself. However, some states, like Illinois, Oklahoma, Arizona, and New York, have stricter licensing requirements for wholesalers.

How can I estimate ARV if sold data is private?

You can calculate ARV in a non-disclosure state by combining active listings, price-per-square-foot averages, and estimates from paid data tools. For higher-stakes deals, an appraisal or broker price opinion provides more reliable numbers.

What’s the difference between assignment and double closing?

An assignment transfers your purchase contract to a cash buyer for a fee, and that fee is shown on closing documents. A double closing means you briefly buy and then resell the property, which hides your assignment fee but involves more paperwork and costs.

Are there advantages to investing in non-disclosure states?

Yes. Because comps and data are harder to access, fewer investors compete in these markets. With the right strategies and partnerships, wholesalers can find less competition, motivated sellers, and potentially higher profits.

Final Thoughts on Wholesaling in Non-Disclosure States

Wholesaling in non-disclosure states presents both unique challenges and exciting opportunities. Because sold prices are kept private, investors face hurdles in pulling comps, estimating ARV, and structuring deals. But with the right knowledge, these markets can actually offer less competition and strong profit potential for those willing to put in the work.

As this wholesaling guide summary has shown, success comes down to three things: creative sourcing of data, strict attention to legal and licensing requirements, and building strong relationships with agents, appraisers, and title companies. By combining conservative deal analysis with smart networking, you can thrive even in markets where information is harder to access.

If you’re ready to take the next step, don’t try to figure it out alone. The Real Estate Skills training programs are built to help investors like you master wholesaling in any state—including non-disclosure markets. Join our community, learn proven systems, and gain the confidence to analyze deals anywhere. This is your call to action: invest in your education today, schedule a free consultation, and start building the skills that will put you ahead of the competition.

*Disclosure: Real Estate Skills is not a law firm, and the information contained here does not constitute legal advice. You should consult with an attorney before making any legal conclusions. The information presented here is educational in nature. All investments involve risks, and the past performance of an investment, industry, sector, and/or market does not guarantee future returns or results. Investors are responsible for any investment decision they make. Such decisions should be based on an evaluation of their financial situation, investment objectives, risk tolerance, and liquidity needs.