Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago,

User Stats

1,451
Posts
462
Votes
Sam Leon
  • Investor
  • Fort Lauderdale, FL
462
Votes |
1,451
Posts

Buyer wants to change buyer name to an LLC last minute

Sam Leon
  • Investor
  • Fort Lauderdale, FL
Posted

Selling a property and went under contract in early July scheduled to close in two weeks.

So far all contingencies have been met and suddenly the buyer wants to sign an addendum for a name change from "John Doe" to "whatever LLC".

Since the buyer is seeking financing from a conventional lender, and I think most residential lenders do not lend to LLCs, I am thinking the name change will cause the loan to be denied, and my attorney suspects this may be a way for the buyer to seek to exit without any penalty.

It seems unusual to do a name change like that in the last minute, any thoughts on the best way to navigate this

Loading replies...