All Forum Posts by: Nancy Mills

And yes, it's definitely a first mortgage. I'd be scared to hold a second mortgage!

So, have the mortgage note signed by the person whose credit I checked who is an agent (owner?) of the LLC, PLUS have him sign it as an agent of the LLC? Or just make the mortgage out to him personally? I am pretty confident that with $30k down on a $116,000 property, plus the buyer himself has good credit, that he is not going to walk away from this property. Still, I have not sold to an LLC before, although I have bought as one, so I don't want to face any hidden pitfalls!

Thank you to all who have replied. Just want to clarify that I'm doing this right. 

Hi, I am selling a property and willing to hold mortgage. The buyer is an LLC. Are there any potential pitfalls to selling to an LLC? Anything I should be aware of before doing the contract? Thank you!