Seeking clarity re: 2024 changes to Texas wholesaling laws

[Savanna Kwieran]

Hey there, friends. I am trying to fully understand what new regulations have been implemented in Texas for wholesaling, because I'm seeing discrepancies in what I'm reading and hearing. First, I was informed that wholesaling in Texas now requires a double-close, which made my eyes go wide and prompted a deeper inquiry. But in researching the legislation, all I see is a new rule about disclosure. Bill SB 1577 states that effective January 1, 2024, wholesalers in Texas are required "to disclose their interest in the property in writing to both buyers and sellers." To me, nothing about that prompts necessity for a double-close when assigning a property. 

Am I missing some other new legislation, which would indeed make a double-close necessary? Or, is assigning a contract to an end buyer the regular old way still in place, and the only change is disclosure? Because if it's only the disclosure thing, I'm golden, because I choose to be upfront about that anyway.