Updated almost 7 years ago on . Most recent reply
Purchasing midsize multifamily holding entity
I am looking to purchase my second multifamily property. A friend recommended to purchase the actual corporation which owns the asset. I ran it by my attorney and banker whom both gave me the green light.
Pros:
No deed, no tax adjustment
Seller to credit me savings on transfer taxes.
I brought up potential title issues, liens etc.
Corp only has this property and rest can be looked over with a more thorough lien search.
Has anyone done this aside from land deals?
This is in kentucky.