Purchasing properties with LLC?

[Archie Minkowski]

I recently formalized a company with an investor friend. We formed a two-person LLC and have equal authority.

We are purchasing flip and rental properties under the name of the LLC. I know this is a very basic question, but how do we sign a contract to purchase a property? Is the contract in the name of the LLC and then I (or my partner) sign one of our names? The whole reason we formed the LLC was to avoid buying property personally as we've done in the past. We recently found a property to buy and the seller insists we both sign the offer contract, which may be a deal-breaker.

Thanks for any wisdom.

[Andrew C.]

I do this. It's not hard. You can make the offer as " or assigns", and let the title company pre closing know you're assigning to the LLC, as previously described.

I just make the offer in the name of the LLC. Sign the offer ", for ".
Your LLC probably wants an OperatingAgreement that elects one of you as the manager/president/pick-a-title that explicitly authorizes you to sign on behalf of the LLC.

If they want both of you to sign the offer....then I'd have both of you sign as , manager of <LLC>, and not worry about it. I can't think of a reason to object to this, TBH.