should I make my written offer under my llc’s name or should I make the contract with my name and transfer the title to my llc after the closing and filing is complete. seems like i would want to start right from the begining using my llc as maybe something could be consrude as comingling . thanks
Your lender will probably not allow you to take title under your LLC, so you’ll have to transfer after closing. Make sure that your lender knows what you are doing.
I am not an attorney but you shouldn’t put the offer in the name of a LLC unless the contract is completely assignable.
I suggest that you consult an attorney.
lenders most definitely will finance directly to an LLC, usually with a personal guarantee.
however, you probably won’t find this financing at your local “bank.”
thanks for the input. but should i do the contract with me personally as the buyer or should i make my llc the principle buyer
talk to your banker. he’ll tell you what he can or cannot do.
I have done several deals like this for my clients. The key is that you will be required to give a personal guarantee AS AN OFFICER/MEMBER of the organization. Do not just close in your name an expect all the protection of using corps and LLCs.
On the 1003 application when it asks how title will be vested, you would list LLC.