Hi, so we had a REO property under contract with the bank and we accepted an offer today. The LLC that we are purchasing the house in cannot be wholesaled since it is our main company LLC and not one we just created for this deal (we need to keep this llc). The Buyer says that they have an LLC they want to purchase the house in. Besides doing a double close - we want to avoid this and the use of transactional funding/double closing costs. What are our other options?
Would it be even more costly to create another LLC, transfer the ownership of the property into it, and then sell that LLC to the end buyer? Or would this be like double/triple transfer taxes? Looking for the cheapest way possible. Thanks!