Seller doesn't want to sell to LLC
Me and my friend/contractor put a all cash offer to buy my neighbor's house in Los Angeles. I created a LLC for which me and my friend are 50% owners. We have a proper operating agreement. provided proof of funds and offer letter. Everything was provided to the seller the way she wanted
After 2 weeks of silence, seller is saying they don't want to sell their home to a LLC. they will sell if both of us are buyers
What is the best way to do this transaction ?
What is additional cost of moving the title from us to the LLC ?
is this a big deal or easy fix ?
Most Popular Reply
I would try to find out why the seller is requesting this. There must be some underlying reason or concern, which may have a different solution. Maybe they want to know who is buying the property or they are concerned an LLC means you are less reliable to get the deal to closing. They may want to have personal recourse if you back out. In that case a larger down payment may satisfy their concern. Dig in a little and find out what the real objection is. Good luck.