Do I want the contract to reflect my name or my LLC?

[David Jonsson]

I verbally (email) agreed on price with bank, that they will sell to me at. They didnt want to sign the one-page offer I sent, which is fine, but they have attorneys they use for Offer To Purchase contracts. Which is fine, I will just add my own contingencies and escape clauses.

These are the terms I asked him to have attorneys consider when drafting contract: as-is, 45 day financing contingency, 21 day inspection period, assignable, net to seller (buyer pays closing costs).

He knows I intend to assign the contract. So next step is see what they send me. Once we settle on terms in contract, I will begin the next phase of marketing to a buyer! Any comments appreciated...

[Bill Gulley]

First, if this is REO, you'd be doing great to get a bank to agree to a 45 day financing period and 21 day inspection period. Adding more weasel clauses may be an issue with all those attorneys :)

If they are selling to an LLC, your name should never appear anywhere in the contract except on the signature page as the authorized agent for XYZ, LLC. :)