As used in ORS 696.650 to 696.670 and 696.997:
(1) “Market” means to advertise, or contract with another person or entity to advertise, or to solicit purchasers for the purchase of property either publicly or privately.
(2) “Residential property” means real property zoned for residential use, or an existing condominium unit as defined in ORS 100.005.
(3) “Residential property wholesaler” means any individual who engages in residential property wholesaling and is registered as a residential property wholesaler under ORS 696.656.
(4) “Residential property wholesaling” means to market residential property for which the marketer has only an equitable interest or an option to purchase and, at the time of marketing, the marketer has:
(a) Held such interest or option for fewer than 90 days; and
(b) Invested less than $10,000 in land development or improvement costs associated with the residential property.