Switching to an LLC after a property is in contract

[Elizabeth O.]

Hi folks,

I'm in contract to buy a house in San Francisco for cash and closing will be in about 3 weeks. After the offer was accepted by the seller, we found a partner who is interested in purchasing the property with us. He wants to form an LLC and purchase the property with it. Is this possible since the seller accepted a contract from me, not the LLC? If we try to make the switch before closing, how much would the seller be involved? She chose us out of 20 offers, and I don't want to mess up the deal. Would the seller have to sign a new purchase agreement? If we transfer ownership to the LLC after purchase, we'd have to pay transfer tax. Is that the safest option to avoid losing the contract?

Thank you for your advice!