Key Takeaways
- In force since August 28, 2026: the Missouri Revisor of Statutes lists both seller-protection sections SB 973 created, RSMo 407.3600 and RSMo 442.920, as effective on that date.
- Fourteen days, in writing, before any contract: a wholesaler buying a one-to-four-unit house must give the owner a separate, bold disclosure at least 14 calendar days before the contract (RSMo 407.3600.2).
- The form says it plainly: the buyer is a wholesaler that does not represent you, and you should get legal advice. It may assign your contract without your consent before closing, and the price may be below market value.
- No disclosure, and you can cancel: the owner may cancel before the close of escrow without penalty and gets the earnest money within 30 days (RSMo 407.3600.4). The right cannot be waived.
- Sale-leasebacks have their own act: a one-page bold disclosure 14 days ahead, a 30-day hold on title, and $10,000 in statutory damages for a harmed seller (RSMo 442.920).
The Missouri SB 973 wholesaler disclosure is a written notice a buyer who plans to assign your contract must give you at least 14 calendar days before you sign. It comes from RSMo 407.3600, in effect since August 28, 2026, alongside a separate sale-leaseback law, RSMo 442.920. Both cover houses with one to four dwelling units.
This guide quotes both sections as the Revisor of Statutes publishes them and explains what each line of the disclosure means for you. It also lists the questions worth asking any cash buyer and what SB 973 changed for Missouri tax sales. For statewide selling basics, start with our guide to selling a house for cash in Missouri.
Why wait? Sell your house “as is” for cash today
Tell us about your house. We'll make you a cash offer based on local market data.
Let's chatWhat Is Missouri SB 973, and Is It in Effect?
Missouri SB 973 is a 2026 real estate act, and its two seller-protection sections have been in effect since August 28, 2026. The Missouri Revisor of Statutes lists RSMo 407.3600 and RSMo 442.920 as effective that day. Their history notes read "L. 2026 H.B. 2636 merged with S.B. 973," and 442.920 also lists S.B. 834.
The act did three things a seller should know about. It created a disclosure duty for wholesalers (407.3600). It created the Missouri Residential Sale Leaseback Protection Act (442.920). It also reenacted parts of the delinquent property tax law, including RSMo 140.010 and RSMo 141.520, which now carry the note "A.L. 2026 S.B. 973."
Some articles written in mid-2026 still describe SB 973 as pending. It is not. A contract a wholesaler offers you today falls under the current text quoted below.
Who Counts as a Wholesaler Under RSMo 407.3600?
Under RSMo 407.3600, a wholesaler is anyone who signs a purchase contract on a one-to-four-unit house for a fee or expected profit, then assigns or novates it to someone else. The statute's words are "enters into a purchase contract for residential real property" and then "assigns or novates the contract to another person or entity" (RSMo 407.3600.1).
To assign a contract is to hand the buyer's rights under it to a new buyer. To novate is to swap a new party into the contract in place of an old one. Either way, the person who signs with you may not be the party who pays you at closing.
The definition reaches both sides of a deal. A buyer who assigns the contract counts, and so does a seller who assigns a contract "without holding legal title to the real property." Two transfers are excluded. One is an individual assigning to a relative "within the third degree of consanguinity or affinity." The other is an assignment to "a parent, affiliate, subsidiary, or affiliated group under common control."
The section sets conditions on how a wholesaler signs a contract with an owner. Nothing in its text prohibits assigning a contract.
What the Missouri SB 973 Wholesaler Disclosure Must Say
The Missouri SB 973 wholesaler disclosure must use the wording printed in RSMo 407.3600.2, and the owner's part of the form makes six statements. Above them, a notice says that failing to present the form is "an unlawful and unfair practice under the Missouri Merchandising Practices Act." It adds that a wholesaler cannot sign a binding contract until the owner has signed and dated the form.
| What the form says (RSMo 407.3600.2) | What it means for you |
|---|---|
| "the person presenting this document is a wholesaler" | The buyer across the table plans to assign or novate the contract. |
| "the owner is advised to seek legal advice before entering into any agreement or contract with the wholesaler" | The form itself tells you to talk to a lawyer before you sign. |
| "A wholesaler is acting on the wholesaler's own behalf and does not represent the owner in this transaction." | Nobody on the buying side works for you. |
| "A wholesaler enters assignable contracts with owners and seeks to sell or assign the wholesaler's interest for a profit." | Your contract is the thing being sold. |
| "The wholesaler may assign the wholesaler's interest in the purchase contract to a third party without the owner's consent before closing. The wholesaler may charge a fee to the third-party buyer separately for profit." | A different party may close, and someone may earn a fee that never appears on your paperwork. |
| "The agreed purchase price between the owner and wholesaler may be below market value and is conveyed voluntarily." | Check the number against recent local sales before you sign. |
The form ends with signature and date lines for the property owner and the wholesaler. Those two signatures are what let a binding contract follow.
The statutory text does not say a wholesaler "may never take title," and RSMo 407.3600 sets no fixed dollar penalty. Some early summaries of SB 973 said both. The $10,000 figures in this guide belong to the sale-leaseback act covered below.
When and How the Disclosure Must Reach You
A wholesaler buying your house must give you the disclosure "not less than fourteen calendar days before entering into a contract" (RSMo 407.3600.2). The statute also sets the form it takes:
- A separate document. The disclosure must be "separate from the purchase contract or agreement."
- Large, bold type. It is "printed in boldface type font size not less than twelve points."
- Signed before the contract. The wholesaler "shall not enter into a binding contract" until "both the wholesaler and the record owner of the property sign and date the disclosure statement" (RSMo 407.3600.3).
- From the wholesaler or its agent. It comes from the wholesaler or "a wholesaler's representative, if applicable."
The 14 days are your reading time. Use them to show the form and any draft contract to a Missouri real estate attorney, and to check the price against recent sales. Keep the form and a note of the date it arrived, because the cancellation right below turns on whether the disclosure came first.
What If a Wholesaler Skips the Disclosure?
If a wholesaler signs a binding contract to buy your house without first making the disclosure, you may cancel "at any time prior to the close of escrow without penalty" (RSMo 407.3600.4). The escrow or closing agent must then pay you any earnest money the wholesaler deposited, within 30 days after you cancel.
The statute adds two more layers. Any violation is an unlawful practice under the Missouri Merchandising Practices Act, and a party who signs without the disclosure "may bring a private action against a wholesaler" (407.3600.6). The Attorney General can also sue, and a court may award damages, injunctive relief, and attorney fees (407.3600.7).
You can't sign these rights away. Subsection 5 says the section "shall not be modified or waived by any oral or written agreement." Any waiver term in an agreement executed, modified, or extended after August 28, 2026 "shall be null and void."
Whether a particular contract falls under RSMo 407.3600, and what cancelling does to your timeline, depends on the facts and the paperwork. A Missouri real estate attorney can read the contract and the dates with you.
Sale-Leaseback Deals Under RSMo 442.920
A sale-leaseback, where you sell your house and rent it back so you can stay, has its own law: the Missouri Residential Sale Leaseback Protection Act, RSMo 442.920. It covers a person selling a one-to-four-unit house that "is or was the seller's residence" when the deal includes a lease to "remain in or reoccupy the property."
The buyer must give you a one-page disclosure in bold type. It opens: "If you sign a sale leaseback agreement, you are entering into a contract to sell your home. This means you will no longer own your home." It warns that you may face eviction if you break the lease and may lose the right to buy the house back. It also says the deal may affect your credit, taxes, and legal rights.
The form encourages you to speak with an attorney, a real estate agent, a housing counselor, a tax advisor, and a real estate appraiser. It ends with two lines: "No sale leaseback can be closed for at least thirty (30) days after signing an agreement" and "Do not sign unless you fully understand the terms."
| Protection | What RSMo 442.920 requires | Subsection |
|---|---|---|
| Advance notice | Disclosure given at least 14 calendar days before you sign, then signed by both sides with the agreement | 3(2) |
| Your copy | A signed copy within five days of signing | 3(3) |
| Title hold | No delivery, recording, or other transfer of title until 30 days after the agreement is signed | 4 |
| Civil penalty | Up to $10,000 per violation | 5(1) |
| Attorney General | May sue for injunctive relief, civil penalties, and restitution | 5(2) |
| Your own lawsuit | Actual damages, statutory damages of $10,000 on top, attorneys' fees and costs, and equitable relief | 5(3) |
| No waiver | A waiver term executed, modified, or extended after August 28, 2026 is "void ab initio and unenforceable" | 6 |
If you are behind on payments and someone offers to buy the house and rent it back to you, read our page on selling a house during foreclosure and the Missouri foreclosure guide first. Then take the one-page disclosure to an attorney before you sign.
Did SB 973 Change Missouri Tax Sales?
Yes: SB 973 rewrote RSMo 140.010 so a county commission can elect to run the Chapter 141 tax collection process "for any parcel." The 2024 version limited that choice to parcels with a tax bill unpaid "for a period of at least two years after the date on which it became delinquent." A county that makes the choice is called a "partial opt-in county."
SB 973 also reenacted RSMo 141.520. Its bar on redeeming a residential parcel the court finds "vacant for a period of not less than six months" reads the same in the 2024 version. That rule predates SB 973, and the 2026 changes to the section are wording only.
If you are behind on property taxes, ask your county collector which process applies to your parcel. Our guide to Missouri property tax sales explains how the county systems work.
How to Check a Price Against the Missouri Market
The simplest way to test a price the disclosure says "may be below market value" is to compare it with recent sales near you. Missouri's statewide median sale price was $298,656 in August 2026, up 6.7% from a year earlier (Redfin, August 2026). The median house sold in 33 days, 3 fewer than a year before.
| City | Median sale price | Change from a year earlier | Source |
|---|---|---|---|
| Kansas City | $311,851 | Up 5.7% | Redfin, September 2026 |
| Columbia | $293,360 | Up 4.8% | Redfin, September 2026 |
| City of St. Louis | $249,881 | Up 2.0% | Redfin, September 2026 |
| Cape Girardeau | $223,043 | Up 3.7% | Redfin, September 2026 |
| Springfield | $219,795 | Up 4.7% | Redfin, September 2026 |
City figures are Redfin medians for the three months ending September 2026. A median is a midpoint, not a value for your house, since condition, size, and street all move the number. A buyer who shows you the sales behind its number gives you something you can check.
Questions to Ask Any Cash Buyer Before You Sign
Ask every cash buyer, in writing, whether it is buying the house itself or plans to assign the contract, because the answer tells you whether RSMo 407.3600 applies. The questions below cover the rest of what the statute and common sense say you should know. Our guide to the questions to ask any cash buyer goes deeper on each.
| Ask this | Why it matters |
|---|---|
| Are you buying this house yourself, or assigning the contract? | An assignment for a fee brings the 14-day disclosure into play (RSMo 407.3600.2). |
| Who will sign the closing papers and pay me? | The form warns the contract may be assigned to a third party without your consent before closing. |
| How did you reach this number? | The form warns the price may be below market value, so ask which local sales were used. |
| Can I see every document before I sign? | The disclosure must be a separate document, signed before any binding contract. |
| Does this offer expire? | A short deadline leaves no room for the 14 days the statute gives you. |
| What will I pay at closing? | Commissions, closing costs, and fees are the gap between a quoted price and your check. |
| Is there a lease or buyback in this deal? | A rent-back brings in RSMo 442.920, with its own disclosure and 30-day title hold. |
A buyer who answers these plainly, in writing, gives you what you need to decide. A buyer who avoids them has told you something useful too.
How Propcash Buys Houses in Missouri
Propcash is a direct cash homebuyer: we make the offer and buy the house ourselves, as a principal. We buy houses as-is, and you pay no agent commissions, no closing costs, and no fees. Our offers are based on local market data, and we'll show you how we got to our number.
Our offers don't expire, and there is no obligation to accept. A cash sale can close in as few as 7 days after the contract is signed, and you pick the closing date. The questions in the table above apply to us too, and we'd rather you ask them before you sign.
If a cash sale isn't your best move, we'll tell you and point you to a local agent who fits. We may receive compensation from agents we refer. You can see how a sale works statewide on our Missouri page, or get a cash offer on your Missouri house with no obligation.
Why wait? Sell your house “as is” for cash today
Tell us about your house. We'll make you a cash offer based on local market data.
Let's chatFrequently Asked Questions
Is Missouri SB 973 in effect?
Yes. The Missouri Revisor of Statutes lists the two seller-protection sections SB 973 created, RSMo 407.3600 (wholesaler disclosure) and RSMo 442.920 (sale-leaseback protections), as effective August 28, 2026. Both apply to houses with one to four dwelling units. A contract a wholesaler offers you today falls under the current text.
What does the Missouri SB 973 wholesaler disclosure have to say?
RSMo 407.3600.2 prints the wording. The owner acknowledges that the person presenting the form is a wholesaler, that the owner is advised to seek legal advice, and that the wholesaler does not represent the owner. The form also says the wholesaler seeks to profit by selling or assigning its interest. It may assign the contract to a third party without the owner's consent before closing and charge that buyer a separate fee. The price may be below market value. It must be a separate document in boldface type of at least 12 points, delivered at least 14 calendar days before the contract and signed and dated by both sides.
Can I cancel a contract if a wholesaler never gave me the disclosure?
Yes. Under RSMo 407.3600.4, if a wholesaler signs a binding contract to buy your house without first making the disclosure, you may cancel before the close of escrow without penalty. The escrow or closing agent must pay you any earnest money the wholesaler deposited within 30 days after you cancel. Because the facts and dates matter, have a Missouri real estate attorney read the contract before you act.
Does SB 973 ban wholesaling or cash sales in Missouri?
No. RSMo 407.3600 sets conditions on how a wholesaler signs a contract with an owner: a written disclosure, 14 days of notice, and both signatures before a binding contract. It does not prohibit assigning a contract, and it does not restrict a buyer who purchases a house and closes on it. A seller who wants an as-is cash sale in Missouri can still have one.
What is the Missouri Residential Sale Leaseback Protection Act?
It is RSMo 442.920, which covers a sale where you sell your current or former residence and lease it back to stay in it. The buyer must give you a one-page bold disclosure at least 14 calendar days before you sign. Both sides sign it with the agreement, and you get a signed copy within five days. Title cannot transfer until 30 days after the agreement is signed, and a harmed seller can sue for actual damages plus statutory damages of $10,000.
Can a seller waive the SB 973 disclosure?
No. RSMo 407.3600.5 says the section cannot be modified or waived by any oral or written agreement. Any waiver term in an agreement executed, modified, or extended after August 28, 2026 is null and void. The sale-leaseback act has a similar rule in RSMo 442.920.6. If a contract signed before that date is in front of you, ask a Missouri real estate attorney how the dates apply.
What should I ask a cash buyer in Missouri before signing?
Ask whether the buyer is purchasing the house itself or plans to assign the contract, and who will pay you at closing. Ask how it reached its number and which local sales it used, whether the offer expires, and what you pay at closing. If the buyer plans to assign, ask for the RSMo 407.3600 disclosure and count 14 calendar days before you sign anything.
The Bottom Line
Since August 28, 2026, a Missouri wholesaler owes you a separate, bold, signed disclosure at least 14 calendar days before a contract. Skipping it gives you a right to cancel before closing. A sale-leaseback carries its own one-page warning and a 30-day hold on title. Read both forms, check the price against local sales, and run the paperwork past a Missouri real estate attorney.
If a direct sale makes more sense for you, Propcash can make you a cash offer based on local market data, with no obligation and no pressure to decide.
Sources and disclaimer: RSMo 407.3600, 442.920, 140.010, and 141.520, and the 2024 versions of 140.010 and 141.520, read on the Missouri Revisor of Statutes website (revisor.mo.gov) in October 2026; Redfin. This article is for informational purposes only and does not constitute legal, tax, or financial advice. Statutes can be amended and courts interpret them, so verify current requirements and consult a licensed Missouri real estate attorney before relying on any summary, including this one.