Make an offer in your LLC or personal name

7 Replies

Danny not sure what your referring to making a difference to who? A few years back when the majority of properties were bank owned they had issues with accepting offers from LLC's. Today not many bank owned properties and even it is they're ok with it as long as you can provide operating agreement and articles of incorporation to ensure arms length transaction. For the purpose of staying "anonymous" as possible the LLC is a good idea since its all public record. Hope that helps!

We are actually making one offer on a bank owned house and another to an individual. I think we will make the offers in our names and deed it over to our LLC once the houses are purchased. Thank you for your responses.

that's what i am going to do danny, purchase individual, then give it to my lawyer to transfer into llc.  not sure if that's the smartest, but i will figure it out as i go.  

If your ultimate goal is to have the property under your LLC, you can maybe make the offer under a land trust that is assigned to you. For the seller, it will still be seen as being a personal offer. But after the sale you can reassign the beneficiary to your LLC without having to create a new deed and pay new registration and transfer stamps or taxes.

@Danny Lambert Make sure the lender will lend to an LLC. I am trying to do what you want to do. My Mortgage Broker said I wouldn't have a problem quit deeding the properties into my LLC. Now my lender is saying they don't lend to LLC's