Transactional Funding in Midland

Yes, if you make both written disclosures Texas requires. That statute 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. Since SB 1577 took effect on January 1, 2024, that written notice has to go to the seller as well as to a potential buyer, on either side of a Midland or Odessa deal. Skip the disclosure and you are outside the statute's safe harbor. Texas has a second disclosure statute that older templates miss: Property Code section 5.0205 requires its own written notice before you enter into the contract to sell an option or assign a purchase contract, telling the potential buyer that you are assigning an interest and do not hold legal title, and telling the property owner that you intend to assign. It is a separate duty from the 1101.0045 disclosure, not the same one restated. We're a lender, not your counsel, so run your contract and disclosure language past a Texas real estate attorney before you use it.

It's a common route when a contract can't be assigned or the spread needs to stay off the end buyer's settlement statement, and it's what our transactional funding is built to fund. Metro-wide active inventory is thin (707 listings in Midland and 465 in Odessa as of July 2026), and Texas is a non-disclosure state, so off-market comps are already scarce here before you factor in a tight wholesale market. A double close, two separate transactions with their own deeds, is a different structural choice than an assignment under section 1101.0045. Which structure fits your contract is a legal question for your attorney, not a lending one.

Distressed supply lands on the same fixed day every month, but you're watching two courthouses instead of one. Under Texas Property Code section 51.002, sales are held on the first Tuesday of each month between 10 a.m. and 4 p.m. at the courthouse of the county where the property sits, and both Midland County and Ector County (Odessa) run their own first-Tuesday auctions. Notice has to be posted and filed at least 21 days before the sale. If you're sourcing from both sides of the metro, that means tracking two separate monthly batches and having funds committed before each sale date. Confirm the accepted form of payment with each county's trustee or substitute trustee ahead of the sale.

Ector runs four fixed dates a year, Midland runs four or five on no fixed pattern, and Midland gives a winning bidder two hours to produce certified funds. Ector County Appraisal District publishes tax foreclosure sales on the first Tuesday of February, May, August and November, beginning at 10 a.m. outdoors on the west side of the courthouse, with property lists published in advance in the Odessa American and posted on the courthouse bulletin board. Midland Central Appraisal District's published tax sale information says sales begin at 10 a.m. on the first Tuesday at the Midland County Courthouse, that there are usually 4 to 5 tax sales a year rather than one every month, and that bid sheets are out about three weeks ahead. Registration opens around 9:45 a.m. on sale day, bidders need a valid state or federally issued photo ID, and mail, phone and internet bids aren't accepted. The line that matters for funding: bidders must have the funds readily accessible, and a successful bidder is given 2 hours from the completion of the sale to obtain cash or a cashier's check payable to the Midland County Sheriff's Department for the exact amount. Personal checks aren't accepted. That MCAD document is dated November 14, 2013 and was re-posted in 2023, so confirm the current mechanics with the district before you bid. These tax sales are a separate proceeding from the monthly trustee sales under section 51.002.

There's no transfer tax on either leg, and the recording bill is small and published. Article VIII, Section 29 of the Texas Constitution bars the Legislature from ever enacting a tax on a transaction that conveys fee simple title to real property, and neither the Midland County Clerk's fee page nor the Ector County Clerk's January 2024 schedule carries a transfer tax or documentary line. Both counties record a deed at $25 for the first page and $4 for each additional page, so a two-page deed is $29 on either side of I-20, plus $0.25 for each name indexed beyond five. The gaps show up elsewhere: a plat costs $120 in Ector against $60 to $80 in Midland, and Ector charges $4 for each attachment or rider where Midland's table has no equivalent line. Ector also prints two penalties on the face of its schedule: double the filing fee for a page where names aren't legibly typed or printed under each signature or where more than one rider is attached, and under Property Code section 11.003 a conveyance missing a grantee's address carries the greater of twice the filing fee or $25 on top of the fee. Midland charges double the filing fee for a non-conforming page as well. Neither schedule prices an assignment of contract as its own line, so ask the clerk before you assume what an assignment records at. Title insurance premiums are set by the state for a given policy amount, so shopping title companies here is about service and whether they'll run two closings off one file, not price.

Not in Midland County after 4 p.m. The Midland County Clerk's official public records page states plainly that they stop recording at 4 p.m.; the office is at 500 N Loraine Street, 4th floor. That is the only hard same-day timing rule either county publishes, and it's the reason we'd rather fund a double close in the morning than at 3:45. Neither clerk publishes a rule on simultaneous closings or a same-day recording window, and neither county clerk's own site advertises electronic recording of land records, though CSC lists both Midland and Ector in its Texas eRecording network. Ask your title company which route it uses and what that does to your cut-off. On the funding side, the rule that governs is state law rather than local custom: Texas Insurance Code section 2651.202 and TDI procedural rule P-27 set what counts as good funds before a title agent can disburse. We found no Midland or Odessa title company that publishes its own A-to-B / B-to-C funding policy, so confirm yours in writing before you schedule two closings on one day.

Underwrite to the cycle, not just the spread. The Permian rig count sits at 263 as of the week of August 7, 2026, the highest since July 2025, and it's the leading indicator for demand on both sides of this metro. List prices already show the split: Midland is flat year over year at $435,000 while Odessa is down 5.6% to $300,495 over the same period. Since our funding is repaid from the simultaneous resale, your real exposure is whether your end buyer's financing and timeline hold up in a market that tracks drilling activity more than it tracks the calendar. Get proof of funds and a confirmed closing date before you commit.

No. Transactional funding covers up to 100% of the purchase on the A-to-B leg. The whole point is that your money is not what closes the first transaction; the simultaneous B-to-C resale is what repays us, and the term is measured in days, not weeks. What you do need is a real end buyer with a confirmed closing date, and enough room in the day to record. Midland County stops recording at 4 p.m., which is why we would rather fund a double close in the morning. Subject to underwriting.

A flat fee, not a rate. Because the money is out for days rather than weeks, pricing is a flat fee on the A-to-B leg rather than an interest calculation you have to amortize. Budget the county's own costs beside it: both Midland and Ector record a deed at $25 for the first page and $4 for each additional page, so a two-page deed is $29 on either side of I-20. Get the fee quoted against your specific deal before you commit to a closing date. Subject to underwriting.