Question 1

Do I need a license to assign a contract in Jefferson County?

Accepted Answer

No license, but two written disclosures apply, not one. Occupations Code section 1101.0045 lets you sell an option or assign a contract without a license if you do not use it to engage in brokerage and you disclose the nature of your equitable interest in writing to any seller or potential buyer. Missing that disclosure is treated as engaging in real estate brokerage. Separately, Property Code section 5.0205, transferred and amended effective January 1, 2024, requires written notice before you enter the assignment contract: to the buyer, that you are assigning an interest and do not hold legal title, and to the owner, your intent to assign. A widely circulated claim that Texas requires a license to assign wholesale contracts is wrong. We are a lender, not your counsel, so have a Texas real estate attorney review your documents.

Question 2

Why does Texas favor a double close on closing costs?

Accepted Answer

Because Texas has no transfer tax, and the Legislature is barred from enacting one. Article VIII, section 29 of the Texas Constitution, added in 2015, says no law may impose a transfer tax on a transaction that conveys fee simple title to real property. In most states the second deed in a double close carries a second transfer tax; here it does not. Title premiums are promulgated by the Texas Department of Insurance and identical at every title company, with a 6.2% basic-rate reduction effective March 1, 2026, so the cost of the second policy is knowable in advance. A $100,000 policy is $780 on TDI's schedule, and shopping is about escrow service and fee items, not premium.

Question 3

How does the foreclosure calendar affect assignment timing?

Accepted Answer

Supply arrives on the first Tuesday of the month, and funds must be committed before it. Under Property Code section 51.002, sales are public auctions between 10 a.m. and 4 p.m. on the first Tuesday of a month at the county courthouse of the county where the property sits, or an area the commissioners court designates. Notice must be given at least 21 days before the sale. The 20-day cure notice applies only to a debtor's residence, so it does not extend the clock on most investment property. A property in Hardin or Orange County sells in that county, not in Jefferson.

Question 4

Will a Jefferson County title company run a same-day double close?

Accepted Answer

We have not found a source that says, so we will not state a local norm. We located no Jefferson County title underwriter or escrow source on whether local companies run back-to-back closings, how they require each leg to be funded, or what assignment fees run here. A Golden Triangle title office exists, which makes calling one easy, but we found no source for local practice. Ask your title company before you set a date. Our funding of the A-to-B leg only works when the B-to-C is ready to fund.

Question 5

Why is Beaumont a market where wholesale spreads come from basis?

Accepted Answer

Because three conditions stack and deal sizes are small. The average originated loan in Jefferson County in 2023 was $219,281, 64% of the Texas average of $340,384. Beaumont's demolition list carried 396 open cases on September 4, 2026, and the county's population is about 1% below 2020. Low basis, distressed inventory and estate or absentee sellers produce assignable contracts, but that is our reading of sourced facts, not a published wholesale statistic. Texas is also a non-disclosure state, so off-market comps are harder to source and the spread has to come from price, not appreciation.

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