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How to find out who the real seller is

| Mar 30, 2021 | Business Formation & Planning, Commercial Real Estate |

Limited liability companies (LLCs) are common corporate structures. As LLC ownership is a matter of public record, it is simply a matter of research to discover who the owner of an LLC is. However, that can be a time-consuming effort, which is a problem when time is at a premium.

The basics of searching

Florida’s most easily researchable records for LLCs available on the secretary of state’s website do not list LLC owners. Rather, it lists managers and registered agents. In many cases, those managers may be other corporations and or are individuals who are not necessarily the true owners.

Obviously, if you’re doing your own research, backtracking through multiple corporations and LLCs can be extremely time-consuming. It can become even more difficult if records cross state or international lines.

Why does it matter who truly owns a property?

Without knowing who is behind a piece of property, you can’t understand the entire circumstances of the property and its sale. If the current owner of a home is selling, there must be a good reason. It could be something innocent, or it could be something that would cause your clients to pause.

It is also possible that the property you’re interested in is not yet on the market. In that case, it will significantly increase your ability to get access to it if you know exactly who to talk to.

Getting the answers you need

Trust is an essential part of your business as a realtor. Gaining the trust of prospective sellers and keeping the trust of your buyers is essential. The best thing you can do is take every step available to get all the answers you need.

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