Establishes licensure requirement for wholesale transactions in real estate and certain rights of consumers in contracts for real property sold in wholesale transaction.

This New Jersey bill (A4278) requires anyone conducting "wholesale transactions" in real estate - where a person promotes the sale of residential property interests (1-4 units) without taking title - to hold a real estate license. It directly affects real estate professionals engaging in these transactions and homebuyers entering such contracts. Key provisions include a 30-day consumer cancellation right (ending at closing or midnight of day 30, whichever comes first), mandatory refunds within 10 business days of cancellation, and required disclosures about cancellation rights, appraisal options, and the need for independent advice. The New Jersey Real Estate Commission will establish regulations for these disclosures.