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Updated about 3 years ago on . Most recent reply
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Is it possible to sign P&S agreements as a company? Scenario inc
Say you have a wholesaling business. Except, you've worked yourself out of the work load and you now have numerous sales-y employees calling around and helping you find deals. You get many contracts, which can go out to other investors or you have the option of purchasing properties yourself when a good one comes around.
Most purchase and sale agreements I've seen ask for a specific buyer name. In this case, I don't want the "buyer" to be any of my agents reaching out to the sellers-- I want the company they're working for (mine) being listed as a buyer. The employee never has any direct control over the property but I'm paying them hourly with my own set commission rate. The company can then assign out the contract to the chosen investor with totally separate financing requirements (such as me using a traditional home mortgage for example). The company then accounts for the income from the contract signing as profit toward the IRS and they pay all the required taxes.
Is this scenario possible in the US? All of the resources I'm finding online seem to be focused on one person doing all of the work themselves and they don't really address teams of people working toward this purpose.
I'm definitely going to reach out to a lawyer but I'm in planning stages right now and would love some ballpark answers and discussion. Thank you!