Folks use an LLC for anonymity and liability protection.

Title insurance protects the lenders in case issues with ownership arise after the sale.Underwriting fee: This is for processing the cost of verifying the borrower’s credit history, income, and other financial information.Discount points: Many investors pay more money upfront to buy discount points and reduce the mortgage interest rate.

Just would like to know would this be smart on my behalf(liability)protection wise? 

I also carry $1M of insurance to protect in these instances as well. 

.), existing site conditions (high ground water, site topography, existing soil types and soil environmental concerns, etc.), the location, depth, and capacity of utilities to service the site - including public utilities (sanitary, storm and water services), franchised utilities (power, gas, cable), capacity of the local streets to accommodate additional traffic from your development...Be sure to find out if there are any specific local ordinances you need to satisfy (possible tree & wetland surveys, together with any necessary tree & landscape or wetland mitigation plans) and whether there are any concerns from municipal departments (e.g. hydrant locations from the fire department, storm inlet and retention requirements, as well as asphalt / concrete road requirements from the engineer), entrance requirements from the road commission (left turn and passing lanes at the site entrance), etc.Once you get past all this you can finally prepare a preliminary site plan and enter the political arena to get preliminary site plan approval, and to address any concessions the board and neighbors want from you to overcome their objections to your development.

If the first is foreclosing, are you prepared to pay off the first and bid at auction to protect your interest?

If anything "Thanks for your application, we have decided to go with another applicant"The less you say, the better off you will be when it comes to all these protected classes, potential discriminations you're unaware of, and people's hurt feelings 

An LLC is for liability protection to protect the assets OUTSIDE the LLC.

-What sort of protections can be put in place for the buyer?

This gives much better diversification protection across geographies, asset types, strategies, investment subclasses etc. versus putting all the eggs into one basket.The downside is that it's not for everyone, and a person has to be comfortable with turning over control to someone else.