Title Transfer
I need a little direction. Fortunately/unfortunately I have so much information in the form of courses, newsletters, saved articles, class and seminar notes that I find it hard to find the answers I'm looking for these days. I know I have the answer somewhere. But I'm going to take the easy way and ask you.
When I bought this rehab I'm working on the lender would not let me take title in the name of my LLC because its relatively new with no credit background yet. My attorney said to wait a little while and we could transfer it to my LLC. I would like to know how difficult it would be to do it myself or should I just pay up and let my attorney do it? Is it as simple as quit claiming it ? What are the steps involved? If this is not a simple answer that can be answered here can someone direct me to a detailed source? Thanks for your help.
JayDub
[addsig]
have your attorney do this one, so you know it's done right and the proper procedure. Then duplicate the process in the future yourself. Follow thru with the process and stay 100% involved....
Just my 2 cents
Thanks for the response Dave. I've learned along time ago that the value of 2 cents given is far more valuable than it gets credit for.
I will more than likely take your advice. But i would also like to know if I CAN do it myself or if one of those things that are usually best left to attorneys.
thanks,
JayDub
[addsig]
I paid my attorney mucho denero to close deals for me. I was watching him do some deeds once right before the closing and after he showed me how easy it was I started doing my own. You can get forms almost anywhere nowdays. There are some here on this site. I can help you for a few bucks if you are still shy.
Hope this helps some
Ted Jr
Sorry if this sounds redundant...
I see there are two topics here.
I also have an LLC with no credit and 1 year old. I am about to buy my first property but it will be under my name.
I'd like to some day transfer it to the LLC.
I will need an attorney for this, correct?
The second topic here seems to be closing deals w/o an attorney. I think it's worth the $700 for an atty to do it properly.
Comments, suggestions?
Thanks
-Ariel
you can do the quit claim yourself, no need for an attorney. the bank will just not let the corporation purchase the property because they want you personably liable for the debt. But after the purchase you can do the quit claim into your LLC name yourself. i would even recommend putting each property into a seperate land trust, instead of the LLC.