Additionally, managing series LLCs can be challenging, especially when it comes to opening bank accounts or handling titles for individual cells, which can create unnecessary complexity.

All client deposits when to title company let them account for it all :) I have a trust account, only because some states require one, such as Pennsylvania.

A title company?

TERMS- Deal Type: Seller Finance- List Price: $580,000- Purchase Price: $780,000- Seller Carryback: $693,000- Total Entry: $100,000 Breakdown: Assignment: $13,000 Down: $87,000- PITI: $2,657 Breakdown: Principal & Interest:: $2,000 Taxes: $464Insurance: $193- Rent: $5,250 ($750-800 per unit)- Amortization Years: 28.88- Interest rate: 0%- HOA: NONE- Balloon: NONE- EMD: $5,500- COE: Feb 12, 2025- Occupancy: Occupied, Occupants staying post closing- Title company: PROPERTY DETAILS:MULIT-FAMILY7 Units - 2B/1B per unit- Living sqft: 5,200- Year Built: 1940- Age of Roof: 1- Age of HVAC: New- Age of Water heater: New- Condition of Electrical: Good working condition- Condition of Plumbing: Good working condition

Or the listing agent.If you have a provision on assigning leases to the buyer and transferring security deposits in the Offer To Purchase (in Wisconsin that's part of the standard form) the title company will put the SD as a line item on the closing statement.

The home must be de-titled so it’s “real” property.

Your response really helped me understand the key aspects of short sales, especially regarding title issues, lender valuation, and inspections.I truly appreciate you taking the time to share your expertise!

I wouldn't imaging the state where the entity is registered makes a big difference for most buying and selling purposes as long as you can provide all of the required documents for title purposes.

There are tenants in the other side already so we will need everything solidified for them by the time we get the title and we are set to close, which is February 19th.

Unfortunately as I’m not an agent I didn’t read these books and can’t remember their titles.