Missouri SB 973 Takes Effect August 28, 2026: The 14-Day Disclosure Rule Explained

From August 28, 2026, a Missouri wholesaler must put a signed written disclosure in the owner's hands at least fourteen calendar days before entering a contract on 1–4 unit residential property. Miss it, and the owner can cancel any time before the close of escrow — and the escrow agent disburses your earnest money to them.

Of the wholesaling laws that landed in 2026, Missouri's is the one that most directly attacks the mechanics of the business. Ohio and Louisiana regulate what the contract must say. Missouri regulates when you are allowed to sign it at all.

This is a summary for investors, not legal advice. Confirm your own position with a Missouri real estate attorney before August 28.

What the law is

SB 973 was signed by the Governor on July 13, 2026 and takes effect August 28, 2026. It is codified at section 407.3600, Revised Statutes of Missouri — note that this is the Merchandising Practices chapter, not the real estate licensing chapter. That placement is the whole design, and it is covered below.

It applies to real property improved by a building or structure with one to four dwelling units.

The core requirement: 14 calendar days, in advance

Not less than fourteen calendar days before entering into a contract that transfers an interest in residential real property, a wholesaler acting as grantee — or a wholesaler's representative — must provide the property owner with a written disclosure.

The disclosure must be printed in boldface 12-point type and must open by stating that Missouri law requires a wholesaler acting as a grantee, before entering into a contract or agreement conveying an interest in residential real property, to provide certain information to the record owner in a conspicuous manner.

It must then explain that:

• The person presenting it is a wholesaler seeking to profit by assigning the contract
• The wholesaler may assign that interest to a third party without the owner's consent
• The purchase price may be below market value
• The owner should seek legal advice

Both the wholesaler and the record owner must sign and date it.

Why fourteen days is the hard part

Every other state on this list lets you sign and then gives the seller a window to unwind: Louisiana five days, Connecticut three business days. Missouri inverts it. The waiting period sits in front of the contract, so there is no enforceable agreement to hold the deal together while it runs.

If your acquisition process is built on getting to signature in the appointment — and for most wholesalers it is — that process does not exist in Missouri after August 28. Fourteen days is long enough for a motivated seller to talk to an agent, get a second offer, or simply change their mind, and you have no contract during any of it.

What happens if you skip it

Three separate consequences stack, and this is where §407.3600's placement matters.

1. The owner can cancel, late. If the disclosure was not made before the contract, the owner may cancel at any time prior to the close of escrow, without penalty. Not a fixed window — right up to closing.

2. Your earnest money goes to them. On cancellation, the escrow agent must disburse the earnest money paid by the wholesaler to the owner, within 30 days. Read that carefully: it is not returned to you.

3. It is an unlawful practice under the Missouri Merchandising Practices Act. That is what putting the section in chapter 407 accomplishes. A violation exposes you to a private action by the party who did not receive the disclosure, and to enforcement by the Attorney General. MMPA claims are a well-developed area of Missouri consumer litigation — this is meaningfully more exposure than a licensing-board complaint.

And you cannot contract around it. The requirement may not be waived or modified by oral or written agreement; any attempt to do so is null and void. A clause in your purchase agreement waiving the disclosure is worth nothing.

What to do before August 28

1. Build the disclosure document now — boldface 12-point, the statutory opening language, all four explanations, signature and date lines for both parties. Have counsel draft or review it.
2. Re-plan your acquisition timeline around a 14-day gap. Decide deliberately how you hold a seller's interest for two weeks without a contract, because that is now the core problem in Missouri.
3. Log delivery. Since the clock runs from delivery, when and how the owner received the disclosure is the fact you will need to prove. Date-stamp it and keep the signed copy.
4. Check anything you plan to sign near the deadline. A contract signed on or after August 28 needs a disclosure delivered on or before August 14.
5. Talk to a Missouri attorney about the MMPA exposure specifically — the private right of action is the tail risk, not the cancellation right.

Is wholesaling still legal in Missouri?

Yes. SB 973 does not ban wholesaling or require a licence. It requires you to tell the owner what you are, in writing, two weeks before they sign — and it puts consumer-protection teeth behind that. The business is intact; the speed is not.

Sources

• Missouri Senate, SB 973 bill information (2026 Regular Session) — https://www.senate.mo.gov/BillTracking/Bills/Billinformation?year=2026&billid=321
• Missouri Senate, SB 973 bill text (PDF) — https://www.senate.mo.gov/26info/pdf-bill/intro/SB973.pdf
• LegiScan, Missouri SB973 2026 Regular Session — https://legiscan.com/MO/bill/SB973/2026
• Kansas City Real Estate Lawyer, "Senate Bill 973: Missouri's requirement for 14-day disclosure period before entering enforceable contract" (August 3, 2026) — https://www.kcrealestatelawyer.com/2026/08/03/senate-bill-973-missouris-requirement-for-14-day-disclosure-period-before-entering-enforceable-contract/

This article is a summary for monitoring purposes and is not legal advice. Confirm any requirement with a Missouri real estate attorney before relying on it.