I hope not. I don't understand how a merchant would be able to tell a stolen item from one you procured in a dungeon. That always made no sense to me.
i enjoy having to find fences. "hot" property is something that no merchant would touch, and it makes it stealing a bit more of a fun thing for me personally
however
I think that the variables should be involved with your fame/infamy, i.e. an infamous thief character can barely sell anything to a normal vendor because they aren't trusted