All Forum Posts by: Dan McCluskey

Ryan:

You hit the nail on the head...."better safe than sorry", which is why I suggested all 3 be present.

I'm sure the LLC Operating Agreement should hold the key, but I'm no lawyer and am in no position to offer advice.

I'm thinking the General Partner can execute on behalf of all members, but that would be for my clients and their attorney to hammer out.

Thanks for the reply and reinforcing my own gut feeling on the matter.

Accepted your request, too.  Thanks.  Look forward to talking to you some time.

Dan

There may be an answer lurking out here somewhere, but I have a closing set for Monday where 3 family members own a particular piece of property in an LLC.

Do all 3 members need to be present at closing to sign documents, or can the General Partner sign on behalf of the members to complete the sale?

I haven't dealt with LLC sales (obviously), but suggested all 3 be present to sign, just in case.

Anyone know the rules that would apply for Missouri?

Thanks in advance,

Dan

Just curious as to folks' overall opinion/success rate with buying properties online in the St. Louis market?

How difficult is the process and what is the overall condition of the property once it's acquired? Worthwhile, or still healing from the wounds?

Another caution I see posted deals with "tenants" that may already be occupying the property. How does one deal with that portion of the transaction?

Any and all replies would be greatly appreciated.

Have an "out" clause in the inspection contract that if it doesn't meet your expectations, the contract is null and void.

This would cover you in the event the daughter goes completely ballistic when she finds out she's out on the street.

"Hell hath no fury".....well, you get the idea. Best of luck!!! Hope it works out for you.