Rental Property Investor · White Plains, NY · Member since 2018 · 348 posts · 86 votes
Our lawyers are going back and forth on this and I wanted to get the forum's take. The seller is requesting to review the LLC's annual tax returns each year. I know, with banks this is usually done, this would be my first with seller financing requiring this. I'd rather not give my tax returns on my entire company to the seller. The are not a bank, just a group of four family members selling a 25 unit building.
Our lawyers are going back and forth on this and I wanted to get the forum's take. The seller is requesting to review the LLC's annual tax returns each year. I know, with banks this is usually done, this would be my first with seller financing requiring this. I'd rather not give my tax returns on my entire company to the seller. The are not a bank, just a group of four family members selling a 25 unit building.
What's everyone's take on this?
I would not have a problem with this. It all depends on how bad you want the property and whether or not you can buy it out right instead of owner finance. You need to decide how important it is to you and either move on or give them the information.
@Account Closed I'd ask what they are looking for exactly and if it makes sense, then get it done. They basically are the bank. Unless you want to wholesale it to me lol. just kidding.