Hello,
I’ve seen a couple mentions of this on the forum archives here, but wanted some more clarification. Are people sending mail to LLC-owned properties (for land)? Some comments i saw here indicated that it should be ok if you plan to close through a title company since verifying the owner could be a pain. Do you find that LLC’s are motivated sellers akin to regular people owners? Who are these LLC’s and why do they own this land?
Thanks!
Ryan
@rmiller1291 an LLC owner could be just about anyone. Simply owning property in an LLC can’t really lead to a direct conclusion about their level of motivation.
The only drawback I know of is the one you mentioned, about it being a little more complicated to verify ownership and signing authority on behalf of the LLC - this is when a title company can help a lot (you can do it on your own too, but it adds another wrinkle and opportunity to make a mistake).
If you are planning to use a title company (i.e. - if you’re going after higher-value properties), I can’t think of many good reasons not to include LLCs on your list.
@retipsterseth thanks seth! Happy to hear it. I was just thinking to myself that an LLC might be less likely to have inherited the land, or to have purchased the land to build a house, etc. But as you said im sure theres a myriad of reasons an LLC may own a parcel of land.