Can a Business Buy a House? - New Silver

Summary

The short answer is… yes! Real estate itself is a business, so it stands to reason that businesses can engage in real estate transactions too. There are various ways this can work, and if you’re looking at the best business entities for real estate investment, you’ll see that one of the most common is an LLC (Limited Liability Corporation). Now let’s take a brief look at how to buy a house through your business.

The process works very similarly to an individual buying a property. It starts with locating a property and making an offer as if you were buying the property for yourself. Once the offer to purchase is accepted, the transaction will be geared towards your specific business.

The short answer is… yes! Real estate itself is a business, so it stands to reason that businesses can engage in real estate transactions too. There are various ways this can work, and if you’re looking at the best business entities for real estate investment, you’ll see that one of the most common is an LLC (Limited Liability Corporation). Now let’s take a brief look at how to buy a house through your business.

The process works very similarly to an individual buying a property. It starts with locating a property and making an offer as if you were buying the property for yourself. Once the offer to purchase is accepted, the transaction will be geared towards your specific business.

Next, you’ll apply for a mortgage or loan the same way you would as an individual, however, you’ll likely need extra information relating to the business, such as bank statements and income verification to prove that you can pay back the loan.

Once you’ve secured a loan, the transaction can be finalized by a representative of your company, and your tax number will need to be provided, to close the sale.

Can a Business Buy a House? - New Silver
Photo Credit: newsilver.com

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