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Updated over 14 years ago on . Most recent reply
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Option Contract- Purchase as individual or Business?
Hello,
After some months of research and preparation we are ready to try to get an offer in place for a short sale flip and had a question about the Option to Purchase Contract. I am not sure if there is a simple answer to this question or just Pros and Cons of each, but here goes:
Is it best to put the investor's name as the buyer or the investor's business (i.e. in LLC or Corp)?
I am not sure if using one vs the other would make any difference in the eyes if the seller's Lender in terms ease of the deal, acceptance, etc.
I appreciate any insight that may be given.
Thank you!
Brandi
Most Popular Reply
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I use a state specific contract in California because the option contract tends to create confusion with Brokers there. I use an addendum which essentially turns the REALTOR approved contract into an option contract. It has has the state mandated disclosures to the seller as well. Your welcome to look it over, just PM me.