Wanting to purchase LLC entity that holds the real estate....how?

[Nik S.]

Hi everyone, I am in contract currently purchasing an apt building. The sale is suppose to be an "entity sale" however I am a bit confused. My intentions are to purchase the LLC entity that holds the real estate in efforts to prevent any public info of the property actually transferring, hence no purchase price shown. Currently, a title company is handling the transaction. They are charging a conveyance fee (wouldn't that provide info to the public?). From what I read, shouldn't there not be one as technically no real estate is being sold, just an entity? This is all new to me, obviously meeting with an attorney asap however just trying to see if anyone else has some experience with how this is suppose to be done properly and effectively.

[Wayne Brooks]

@Nik S. Not sure why you are so concerned about the the sale showing up in the public records, but the risks and hoops of buying the llc instead of the property I think severely outweigh the “keeping the sale private”.

As mentioned, not only do you keep the existing depreciation schedule, based on whatever the seller paid for it, you also have their reduced basis in it when you sell.

Do tell us exactly Why you think it’s important to make the sale public.