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Rainmaker
1,577,443
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

I find it can be common with investors to not disclose the principals. I have also done it myself when I purchased an vacant lot next to my cabin....didn't want them to realize who I was and how badly I wanted it. 

Aug 01, 2015 09:58 AM
Rainmaker
5,583,178
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

actually, I've never had this happen.... I know of other agents that have dealt with this....using a straw and assigning a purchase and sales agreement happens occasionally with land, if the developer has deep pockets and does not want to be know as the buyer....

Aug 01, 2015 08:32 AM
Ambassador
5,205,500
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Consult your state laws and an attorney about if & when a principal has to disclose. 

Jul 30, 2019 09:33 PM
Rainmaker
784,786
The Woodland Team of Texas
The Woodland Companies - Austin, TX
Land Specialists

We have been the undisclosed principle.

Oct 13, 2018 06:46 AM
Ambassador
6,364,089
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Very rare, but it worked for Jesse Pinkman

 

Feb 06, 2018 10:51 PM
Rainmaker
1,619,916
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

It can be done as Trust, LLC, etc. or as undisclosed principal ( see agency law), also principal can request to be removed from public records and online searches. 

I do not feel awkward. Trust and LLC transactions are quite common these days.

Feb 18, 2017 07:59 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I rarely see this as it is against the law in TN. Our procedure is that agency has to be declared on a written form.

Dec 31, 2016 01:46 PM
Rainer
3,120
Ivan Carroll
Me - Ogden, UT
Studying to become an agent

Thanks everyone.  It makes sense that an investor or someone who doesn't want the seller to see them as "deep-pocketed" or "desperate", for lack of better terms, would be interested in keeping their identity under wraps.

 

As a follow-up question, is there any point during the transaction when the party's identity gets disclosed or would no one know who they are until the purchase has closed and been recorded?

Aug 03, 2015 01:44 PM
Ambassador
3,160,989
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I've had it a couple of times. Generally speaking it's never been awkward.

Aug 01, 2015 01:29 PM
Rainmaker
657,208
Martin E. Kalisker, Esq.
Natick, MA
Real Estate Law From A Practical Perspective

Not in our neck of the woods.  All parties are disclosed in the transaction.

Aug 01, 2015 07:44 AM