Question 1

Do I need a license to wholesale in Dallas, and what changed in 2024?

Accepted Answer

No license, as long as you make the written disclosure, and since January 1, 2024 that disclosure has to go to the seller too. Texas Occupations Code section 1101.0045 lets you acquire an option or an interest in a contract to purchase real property and then sell the option or assign the contract without a license, provided you don't use the contract to engage in real estate brokerage and you disclose the nature of your equitable interest in writing to any seller or potential buyer. The seller side of that requirement came in through SB 1577 in the 2023 session and took effect January 1, 2024. If you're still running a buyer-only disclosure from an older template, it's out of date. We're a lender, not your counsel, so have a Texas real estate attorney review your contract and disclosure language.

Question 2

What actually happens if I skip the disclosure?

Accepted Answer

The statute doesn't treat it as a paperwork slip. It defines the conduct as brokerage. Subsection (b) of section 1101.0045 says a person selling or offering to sell an option, or assigning or offering to assign an interest in a contract to purchase real property, without disclosing the nature of that interest as required is engaging in real estate brokerage. Without a license, that is unlicensed brokerage. Law-firm analysis of the statute has described the exposure as a Class A misdemeanor with private civil actions of up to three times the consideration received, though that analysis dates from 2017 and predates the 2024 seller-disclosure amendment. Ask your attorney where the current exposure sits before you rely on a number.

Question 3

Assignment or double close, and which leg does this loan fund?

Accepted Answer

We fund the A-to-B leg of a double close. Section 1101.0045 is written around assignments and options, and a double close sits outside its express terms: it is two separate purchase-and-sale transactions, A to B and then B to C. The legal commentary that treats a double close as a way around the assignment-disclosure exposure is a nine-year-old law-firm analysis, not settled law, and the same commentary notes that advertising a property you don't yet own can draw the brokerage finding either way. Our transactional funding covers the first closing and is repaid out of the simultaneous resale. Which structure fits your contract is a question for your attorney.

Question 4

How should I advertise a Dallas wholesale deal without stepping over the line?

Accepted Answer

Advertise the contract and your fee, not the house at a price. The compliance read on section 1101.0045 is that a wholesaler who markets the property itself, as though they owned it, is closer to the brokerage finding in subsection (b), while marketing the assignment is what the statute contemplates. The example given in the legal commentary is a listing framed as an assignment contract for real property with a stated assignment fee, rather than a for-sale listing of the address. That commentary is from 2017 and predates the 2024 amendment, so treat it as a starting point and get your marketing language reviewed.

Question 5

How does the Texas foreclosure calendar set my timing in Dallas County?

Accepted Answer

Sales run on the first Tuesday of the month, between 10 a.m. and 4 p.m., with 21 days of notice. Texas Property Code section 51.002 requires a public auction on the first Tuesday at the courthouse of the county where the property sits, in an area the commissioners court designates. If the first Tuesday lands on January 1 or July 4, it moves to the first Wednesday. Notice has to be posted at the courthouse door, filed with the county clerk, and mailed by certified mail to each debtor at least 21 days out, and on a debt secured by the debtor's residence the servicer first has to give at least 20 days to cure. For you that means distressed supply arrives in a monthly batch, the sale date never moves, and the posting window is the lead time you get to line up your end buyer and confirm funding.

Question 6

How much end-buyer risk should I price into a Dallas double close?

Accepted Answer

Enough to assume your B-to-C buyer's own math is thinner than they think. Dallas flipped 11.9% of all home sales in the first quarter of 2026, against 8.0% nationally, at a gross flipping return of 4.3% against 25.4% nationally. ATTOM's gross figure is resale price minus purchase price, before rehab, holding, financing and selling costs, so at a 4.3% gross margin most Dallas flips are underwater once the real costs go in. Meanwhile DFW resale inventory sat at 6.00 months in July 2026 with 58 days on market. That is a crowded acquisition market, not a distressed-supply one. On a double close the timing risk lands on you, because our funding is repaid from the simultaneous resale, so get proof of funds and the end buyer's lender timeline before you commit to a closing date.

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