Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 8 years ago on .
Most recent reply
presented by
How To Buy Under an LLC... If the State is Backlogged?
I was wishing to close a property under an LLC with someone. The plans was to submit the initial offer under a designee name, myself, but specify it to close under an LLC name at the end, such as "123 Elm Streeet LLC". So I could go online an quickly setup the LLC in the mean time.
But I discovered the state's processing time for new LLC's is several weeks, and our close was going to be one week, is there any solution outside of extending my close period? Could it still close under the LLC name if it's not fully processed, as long as the name is available?
Most Popular Reply
Originally posted by @Account Closed:
@Jim Witten If you are financing the property there is a due on sale clause if you transfer to an LLC.
As in the LLC needs to be done and ready before the close? So there's no way around this?