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Updated almost 11 years ago,

User Stats

125
Posts
33
Votes
John Adamkewitz
  • Real Estate Investor
  • Wisconsin
33
Votes |
125
Posts

How do I word offer when entity does not exist yet.

John Adamkewitz
  • Real Estate Investor
  • Wisconsin
Posted

Hi BP,

I'm working on an offer to purchase an REO property, financed on commercial money. The property will be purchased and held in a yet to be formed, entity between Myself and one partner. In Wisconsin an LLC can be formed in a few days but We are not quite sure of the Operating Agreement untill the terms of sale are complete.

I've had conversations with the bank that owns the property and I think that were pretty close on terms. Now I want to get it under contract. There are a buyers and sellers RE agent involved.

I just want to be upfront with all parties involved and avoid snags in the future.

So Who's name goes in the purchasers box? The two partners?

Thanks, John

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