Can anyone asnswer this. most investors know that you can’t asign a contract from a reo property to your end buyer, but I have heard that you can buy the reo into an LLC and sell the LLc. can this be done, and if so what are the details of this transaction, also I heard that you can also buy the reo and then after the bank excepts your offer go back to the realtor who presented your offer with and tell them that you want to add your end buyer to the contract as an additional buyer, anybody heard of this, not sure how it works but if anybody can help me I would be greatly appreciated.
If you do this what will you have gained?
What are you trying to gain/avoid? Sounds like a lot of finagling for not much gained. If ytou would do this, how would you value the LLC entity?
Why don’t you just buy it and then sell it?
Is there someone selling a course called, “Let’s make Real Estate as difficult, confusing, and convoluted as possible”? If no one else is, maybe I can do a ‘best of REI Club’!
(I’m just poking some fun, don’t get krazy!)
Keith
I think I know what your are trying to ask.
If you are trying to buy an REO with a non assignable contract then yes you can buy the property in the name of the llc and then sell the llc to your buyer instead of selling them your position in the contract. Essentially it is just one more way of assigning.
However, you must have your llc established ahead of time if you plan to do this.
As far as meeting with the realtor and adding on a purchaser to obtain financing yes that is possible but you do risk losing your deposit money if the bank does not accept this as an option. Most will because they just want to get rid of the property
Good luck
I would assume you could do a front to back closing now, with no requirements for seasoned titles.