During Offers - how to set up for possible future LLC at closing

[Xela Batchelder]

I've been watching a lot of Anderson Business Advisors videos on YouTube, and he had mentioned while putting in an offer that you could put your name and then an "OR" and then I can't remember the exact verbiage - but it is so at closing you can change it to an LLC (so you have time to create it). I would like to put in an offer and use this to create less of a mess prior to closing if I do decide to set up an LLC, but I have rewatched a lot of his videos, and can't find where he said the verbiage one should put in the offer. Does anyone know what it is? Either what Anderson Business Advisors have said, or if you use something similar? Maybe it was something like "Name or designated entity" - is that it? (I'm not doing wholesaling, I'm buying long term for rentals, so it isn't an assignment type of situation.) Thanks for any help or advice!

[Mike Cumbie]

Entity to be formed

[Mike Cumbie]

Entity to be formed

[Patrice Penda]

Unless the buyer insists on the LLC to be in existence at the time of the offer and verifying that by showing a certificate of formation. I have experienced that it is ok to make the offer under the name of what your future LLC will be and put in brackets (new entity to be formed).
That has been my experience. I am not saying it would necessary satisfy the seller.

[David M.]

@Xela Batchelder

Agree with using: “Xela Batchelder or Entity to be formed”