MAKING OFFERS IN LLC'S AND CORPORATIONS BY JASON HOWDESHELL HEATONDAINARD REAL ESTATE LLC

May 13, 2011

 When you make an offer with an entity, you need to make sure that you have it properly set up. I know a lot of investors who have went to the Secretary of State website and formed their own LLC or Corp. With a LLC you need to make sure that you have an Operating Agreement. I know a few newer investors who haven't done that. It isn't a requirement by the State of Washignton to have one. However it is the backbone of your LLC. Not only will the bank ask for it on an offer on a bank owned property, your escrow agent will ask for it when they are setting up the closing. With your Corp you need to have your Articles of Incorpation and Corporate Resolutions. These documents will show that you have the ability to sign for your LLC or Corporation.

 

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