Sell the LLC ON A SHORT SALE?

4 Replies

I know it can happrn....

I'm just seeking if there is a any smart way to sell the Llc after the package is sent it to bank with my offer.

And how to sell the Llc before you know the offer is accepted by the bank, to my buyer. If I decided to assign it.

@Michael Chant

Yes, the manager off the new LLC resigns and an new one is appointed. The membership of LLC has no bearing until you file your first tax return. Your operating agreement can just be replaced with one your buyers provide. We have done this multiple times when both parties understand how it works.

Can’t imagine why any buyer Would buy it prior to an approval Letter being issued and everything set for closing. 

@Jason Dillard When you say manager that would be me w a (buying Llc for that property ).

And then send it to my buyer asoon as it closes or offer is accepted?

@Michael Chant your buyer has to understand that the new LLC that is buying the property will be controlled by the buyer as soon as it closes. This works when you can't assign the contract. Instead, the new LLC's manager resigns and a new one is appointed.

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