Question 1

Do I need a license to wholesale in Wichita Falls, and what must I disclose?

Accepted Answer

No license, if you disclose in writing, and Texas asks for two disclosures. Occupations Code section 1101.0045 lets you sell an option or assign a contract to buy real property 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; since January 1, 2024 that includes the seller. Missing the disclosure turns the activity into unlicensed brokerage. Property Code section 5.0205 separately requires you to tell the buyer in writing, before the assignment contract, that you are assigning an interest and do not hold legal title, and to tell the owner of your intent to assign. This is not legal advice; your attorney or title company has the final say. Oklahoma wholesaling rules do not apply here.

Question 2

Can I double close in Wichita County, and how do title companies handle it?

Accepted Answer

We found no Texas statute that prohibits a double close, but we did not verify local title practice. A double close is two separate closings, A to B and B to C, each with its own deed, so it is a different thing from an assignment. Texas closings run through title companies and escrow officers. We could not confirm how title companies in Wichita County handle same-day back-to-back closings, or how they characterize the funding, so confirm that with your title company before you schedule both legs. We do not state a local norm we cannot source.

Question 3

Why does so much Wichita Falls wholesale activity happen off the MLS?

Accepted Answer

Because the listed pool is small and sale prices are hard to see. The metro had 479 active listings in September 2026, down 21.6% in a year, and Texas is a non-disclosure state, so sale prices are not on deeds or in county clerk searches. With so few listings and so few visible comps, deal flow runs on relationships, and that is the case for a wholesaler who finds the seller and a funder who can close the first leg. That is our reading of those two facts, not a market statistic. Median list price was $216,000 in September 2026.

Question 4

What does title insurance cost on each leg of a Texas deal?

Accepted Answer

The same at every company, because Texas sets the rate. The Texas Department of Insurance promulgates title premiums, and a 6.2% reduction took effect March 1, 2026. A $100,000 policy costs $780, and above that the premium is $780 plus 0.00494 times the amount over $100,000. On a $174,273 policy, the Wichita Falls mid-tier value, that is about $1,147 ($74,273 x 0.00494 + $780). Companies compete on escrow service and endorsements, not on the base premium, so ask what is in the closing fee instead of shopping the rate. This is the basic premium only.

Question 5

What do I need to know before bidding at a foreclosure sale?

Accepted Answer

Sales run on the first Tuesday, and you need funds ready before then. Under Property Code section 51.002 a trustee sale is held between 10 a.m. and 4 p.m. on the first Tuesday of the month at the county courthouse, or at an area the commissioners court designates nearby, after at least 21 days of notice. We could not confirm the designated sale location for Wichita County, so read the posted notice for the exact place. Auction purchases are cash at the courthouse, so funds have to be committed before the date. Assignment-fee norms for this market were not something we could source, so we do not quote a typical fee.

Transactional Funding in Wichita Falls

How it works

Transactional Funding in Wichita Falls, answered.

More Transactional Funding questions, answered on the program page

Guides for Transactional Funding

Transactional Funding vs. other options

Other programs in Wichita Falls

Transactional Funding elsewhere in Texas

Funding Wichita Falls deals fast.