"PLEASE AMEND BUYER NAME TO INCLUDE INDIVIDUAL NAME AS WELL AS COMPANY NAME"

We just got a message in equator asking us:

Title: "PLEASE AMEND BUYER NAME TO INCLUDE INDIVIDUAL NAME AS WELL AS COMPANY NAME."

Body: "PLEASE ADVISE IF THERE IS AN INDIVIDUAL NAME THAT CAN BE ADDED TO THE BUYER NAME, XXXXXX  LLC.  THE COMPANY NAME ALONE IS NOT ACCEPTABLE.  IF THIS IS NOT POSSIBLE, WE WILL HAVE TO DECLINE THE FILE AND WAIT FOR AN ALTERNATE OFFER TO BE SUBMITTED."

While this is pretty obvious as to what they're asking for, does anyone know if it's possible to "Amend" a buyer's name in equator, or is the negotiator just asking for me to email the name of the individual via equator?

I do NOT want to start over again! We already had the offer ACCEPTED by the lender!

Views: 92

Replies to This Discussion

Email the negotiator directly and give them the name of the managing member of the LLC, you should also include an attachment in your message with their LLC paperwork that shows the managing member.
Thanks for the input. I just finished doing pretty much the same thing in a different manner. I like your idea better.

The negotiator responded to my question with "Call customer service"

Customer service told me to upload the evidence of current officers/managing members to the "library" under "supporting documents" and to respond to the message in equator with the buyer's personal name.

That was done, I'll update soon.

my hope is that this helps someone else in the future.

Emily S. Knell said:
Email the negotiator directly and give them the name of the managing member of the LLC, you should also include an attachment in your message with their LLC paperwork that shows the managing member.
I suppose in the future, what one should do for an LLC, is to put one of the managing members names ON the purchase contract and / OR when Equator asks for the buyer name and first 5 of SS # etc, put in the managing member name there. OR keep the original RPA as just being under the LLC and attach a document to your purchase agreement that states the name of the managing member whom you're going to be listing as "the buyer" in Equator.

Neil Leavitt said:
Thanks for the input. I just finished doing pretty much the same thing in a different manner. I like your idea better.

The negotiator responded to my question with "Call customer service"

Customer service told me to upload the evidence of current officers/managing members to the "library" under "supporting documents" and to respond to the message in equator with the buyer's personal name.

That was done, I'll update soon.

my hope is that this helps someone else in the future.

Emily S. Knell said:
Email the negotiator directly and give them the name of the managing member of the LLC, you should also include an attachment in your message with their LLC paperwork that shows the managing member.
1) Put the buyer's name into the form on equator when submitting the offer as such, "First name: Mycompany, LLC" "Last Name: Bob Smith as manager"

2) Have the purchase contract list "Mycompany, LLC, Bob smith as manager"

3) Include the LLC paperwork with the original purchase contract.

sounds about right.


Emily S. Knell said:
I suppose in the future, what one should do for an LLC, is to put one of the managing members names ON the purchase contract and / OR when Equator asks for the buyer name and first 5 of SS # etc, put in the managing member name there. OR keep the original RPA as just being under the LLC and attach a document to your purchase agreement that states the name of the managing member whom you're going to be listing as "the buyer" in Equator.

Neil Leavitt said:
Thanks for the input. I just finished doing pretty much the same thing in a different manner. I like your idea better.

The negotiator responded to my question with "Call customer service"

Customer service told me to upload the evidence of current officers/managing members to the "library" under "supporting documents" and to respond to the message in equator with the buyer's personal name.

That was done, I'll update soon.

my hope is that this helps someone else in the future.

Emily S. Knell said:
Email the negotiator directly and give them the name of the managing member of the LLC, you should also include an attachment in your message with their LLC paperwork that shows the managing member.
This has now been resolved, here's what happened:

1) Added personal name next to LLC name on contract
2) Gave name to negotiator
3) Sent new contract to negotiator
4) Sent LLC filing to negotiator (proving personal name is authorized to sign)

It took a few days but it was all resolved. In the future, i think i would add it to the "Library" AND attach it to the email I sent the negotiator. The negotiator also compared the signatures on the LLC paperwork to the signature on the contract and made us update it because it didn't look like it matched. Sheesh.

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