Direct purchase: what it means
In a direct purchase, TechStack Consulting LLC signs the purchase agreement and closes on the property itself. Because we do not pay from our own cash reserves, a direct purchase is funded with lender or transactional funding. Any financing condition is stated in the purchase agreement, so you can see it before you sign.
What that means for you: the price, the closing date, the inspection or due-diligence period, and any funding condition are all in one written document. Ask us which conditions could let the sale fall through, and read those sections first. The same questions apply to any buyer; our buyer vetting guide lists them.
Assignment of contract: what it means
In an assignment, we sign a purchase agreement with you and then transfer our rights under that agreement to a vetted buyer, who closes on the property and takes title. You are still paid at closing through the title or escrow company, at the price and on the terms in the agreement you signed. We may earn a disclosed fee for arranging the transfer.
Before you sign, we tell you in writing that the contract may be assigned. If we assign it, the buyer is named in the closing documents. We do not promise that the end buyer is known on the day you sign, because the buyer may not have been matched yet. We promise the structure in writing, and the buyer named at closing. See contract assignment explained for the contract questions to ask.
What Texas requires us to disclose
Two Texas provisions shape how we describe an assignment. Texas Property Code §5.0205 requires a person, before entering into a contract to sell an option or assign an interest in a contract to purchase real property, to disclose in writing to a potential buyer that the person is selling only an option or an interest in a contract and does not hold legal title, and to disclose to the property owner the intent to sell an option or assign an interest in a contract.
Texas Occupations Code §1101.0045 allows a person to acquire an option or an interest in a contract to purchase real property, and sell or assign it, without a real estate license if the person does not use the option or contract to engage in real estate brokerage and discloses the nature of the equitable interest in writing. Selling or assigning without that disclosure is treated as real estate brokerage. These are summaries, not legal advice. Read the statutes and ask a Texas attorney about your own contract.
Double closings
A double closing is two connected closings: we buy from you, then sell to a second buyer, usually through the same title company. We may use one when it fits the property. If we do, the structure and its conditions are disclosed to you in writing before you sign, the same as any other structure.
Is it a cash offer?
Not in the sense of us paying from our own cash reserves. You are paid in full at closing through a licensed title or escrow company. When we buy directly, the money comes from lender or transactional funding. When we assign the contract, it comes from the assigned buyer’s funds. Either way, the money moves through the title or escrow company, not directly between us and you.
Who you are contracting with
StraightAcre is a brand of TechStack Consulting LLC, a Texas limited liability company, and TechStack Consulting LLC is the contracting entity on our purchase agreements. StraightAcre is not a licensed real estate brokerage and does not provide legal, tax, or investment advice. You can read more about who runs the company on our About page.
State-by-state structure notes
Rules for assignments and wholesaling differ by state, so we do not treat one state’s rules as permission anywhere else. This table is the structure we describe publicly for each active market.
| State | Structure we describe |
|---|---|
| Texas (Travis, Collin, Harris counties) | Direct purchase or disclosed assignment, stated in writing before you sign. |
| Illinois | Direct purchase only, unless a licensed broker is involved. |
| Rhode Island | Direct purchase only, unless a licensed broker is involved. |
| Florida, Alabama, California, Georgia, Washington, New York | The structure is stated in writing before you sign, and state-specific requirements are confirmed before each transaction. |
| All other states | We accept and review inquiries. That is not a claim that we currently buy in every state. |
What we will not do
- Pressure you with a deadline that exists only to hurry your decision.
- Hide that a contract may be assigned, or leave the structure out of the written agreement.
- Ask you to close anywhere except through a licensed title or escrow company.
- Tell you a queue or schedule is full when it is not. If our review schedule is busier than usual, the inquiry form says so before you submit.
- Promise a price, a closing date, or an offer before we have reviewed the parcel.
Sources and further reading
Start with a free written parcel review
Send the county, parcel ID, ownership information, and any known tax or title issues. We review whether the property fits our current acquisition criteria and tell you in writing whether we would buy directly or assign the contract. An inquiry is not a binding offer or a promise to purchase.
Request my free parcel review