House Bill No. 468 aims to regulate the wholesale of residential real properties in Louisiana by enacting new definitions and requirements for wholesalers. The bill introduces definitions for "residential real property," "wholesaler," and "wholesaling," clarifying that residential real property consists of one to four dwelling units intended for occupancy as single-family residences. It mandates that wholesalers must provide written disclosures to sellers before executing contracts, including their intent to assign or sell contractual rights for financial gain, the recommendation for sellers to seek legal advice, and the right to cancel agreements within five calendar days without penalty.

Additionally, the bill prohibits wholesalers from misrepresenting their role, claiming unearned licenses, or engaging in deceptive practices. It establishes that any contract involving wholesaling must include an earnest money deposit of at least 1% of the purchase price, held in escrow. Violations of these provisions can result in civil penalties up to $5,000 per violation, and contracts may be rendered voidable if required disclosures are not included. The provisions of this act do not apply to contracts completed before its effective date.