Transactional Funding in Waco

Two separate written disclosures, and neither one requires a license. Texas Occupations Code section 1101.0045 lets you acquire an option or a contract interest and assign or sell it without a license, provided you don't use it to broker deals and you disclose the nature of your equitable interest in writing. Since a 2023 amendment took effect on 2024-01-01, that written disclosure has to go to both the seller and the potential buyer, not just the buyer as under the original 2017 version. Skip the disclosure and the statute treats what you did as unlicensed real estate brokerage, a real exposure on a McLennan County assignment. 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.

Yes, and this is the detail most out-of-market wholesalers miss on a Waco deal. The City of Waco doesn't allow the classic non-owner-occupied single-family or duplex short-term rental (STR Type II) in its R-E, R-1A, R-1B or R-1C zoning districts, and the special-permit path that used to exist there was removed effective 2021-06-15. Just as important, the city says on its own site that an existing STR license does not automatically transfer with the property to a new owner. If your buyer's exit plan depends on Airbnb-style income, confirm the zoning district and don't assume any license the seller holds survives the sale. That's a zoning question worth running before you assign, not after.

No Texas statute prohibiting double closings has been found. A double close, two separate deeds on an A-to-B and a B-to-C transaction, is not the same event as an assignment, so it doesn't trigger the same 1101.0045 written-disclosure requirement in the same way. In plain terms, your escrow officer cannot fund the A-to-B leg out of money that has not landed yet, which is exactly why the first leg needs its own capital. No source confirms a specific McLennan County title-company practice on this, so ask your title company how they structure the A-to-B leg before you count on a same-day turn. See the transactional funding program for how we fund that leg.

No. The Texas Constitution, article VIII, section 29, added by voters in November 2015, bars the Legislature from enacting any law that imposes a transfer tax on a transaction conveying fee simple title to real property, effective for transactions after January 1, 2016. That's a constitutional bar, not just an absent statute, and it covers both legs of a McLennan County double close. The one carve-out is a tax on the issuance of title insurance itself, which is not barred.

The McLennan County Clerk, at $15.00 for the first page and $4.00 for each additional page. That flat schedule, effective January 1, 2024, covers everything filed in the Official Public Records: deeds, deeds of trust, releases and assignments are not priced separately. On a two-deed same-day close with three-page deeds, that is $23 a deed, so about $46 of recording on both legs before any extra. Watch the add-ons: $0.25 for each grantor or grantee past five, $4.00 for a rider, and double the page rate on anything larger than 8 1/2 by 14 inches. The clerk's office is open Monday to Friday, 8 a.m. to 5 p.m. Nothing on the schedule is a transfer tax or documentary stamp, because Texas has neither and McLennan County adds none.

Yes, at the same flat Official Public Records rate, but only if the assignment carries a legal description. The county clerk's standard requirements state expressly that assignments must include a legal description, alongside the general rules that a document be an original with original signatures, be in English, carry a heading identifying the document type, and carry a return address. An assignment drafted with nothing but a street address is a rejection risk here, and a rejection on the A-to-B leg is what breaks a same-day double close. Pull the legal description off the existing deed before you file anything.

Leaving the grantee's mailing address off the deed. McLennan County charges a $25.00 penalty for it, on top of the regular filing fee. The county states the grantee address is required for tax purposes, and it applies to a deed of trust as well as a deed. On a double close you are filing two deeds the same day, so the mistake gets made twice if your document prep is sloppy. For electronic filing, the county clerk does not publish an e-recording page of its own, and the national e-recording networks list McLennan County as covered, so confirm the submitter and any vendor fee with the clerk or your title company rather than assuming your usual platform is live here.

It can, because distressed inventory here turns over on a fixed monthly clock, not a court calendar. Texas is a non-judicial, deed-of-trust state under Property Code section 51.002: sales happen at the county courthouse between 10 a.m. and 4 p.m. on the first Tuesday of the month, after at least 21 days' notice. On non-owner-occupied investment property, there's no residential 20-day cure notice, so the floor from default notice to sale can run close to 21 days. If your A-side contract is tied to a McLennan County foreclosure sale or a fast-turning distressed listing, that timeline is why the A-to-B leg needs capital committed before the first Tuesday, not after.

You do. We fund up to 100% of the A-to-B purchase itself, not the costs around it. That is the point of the program: our capital closes the first leg and the B-to-C proceeds retire it the same day. Pricing is a flat fee, not a rate, and the term is measured in days, not weeks. Costs outside the purchase are still yours, including McLennan County recording at $15.00 for the first page and $4.00 for each additional page on each deed. Subject to underwriting.

That is what it is built for. There is no credit check and no appraisal on this program. The file turns on the B-to-C contract and a simultaneous close, not on your score or on a valuation timeline. That is what makes it usable against a fixed clock, like a McLennan County foreclosure sale, which happens at the courthouse on the first Tuesday of the month after at least 21 days' notice. Line the capital up before that Tuesday, not after. Subject to underwriting.