To me, it seems like a good idea but I just don't have enough experience to spell out why its logical. 

If I were you I would draw up some sort of a binding contract (amongst you and your brothers and your wife) that spells out each scenario and what would happen. 

The problem is someone who took four tries just to spell the P word correctly can't be trusted to discern who is a "pedophile" (not "pedafile" like you tend to spell it) and who is not.

I have a lawyer draft an agreement that spells out our interest in the house and what gets paid from the proceeds and to whom.

There are normally 3-4 threads on this subject running at all times here on BP.Those that extol the virtues of raising private money will be shouting from the rooftops that (a) they told us so and (b) now is the time to be raising PM, because the traditional bank debt avenues are going to dry up for a spell.  

You can clearly spell out, in the articles, who owns what share of the company, how proceeds from sales/revenue are distributed, and it eliminates the potential for someone trying to "switch the percentages" down the road so to speak, because it is a formal legal structure. 

If you are going to move forward, and this isn't a scam (i.e. they deposit $1 mil in your account and tell you to carry on), you should probably visit a good contract lawyer to spell out what everyone's responsibility is and try to limit your liability if this thing goes south. 

It’s an easy read and spells out the process.  

My closing agent oversees the paperwork so that there are no mistakes in securing the loan (the promissory note, which spells out the terms) to the property, filing the deed with the county, collecting the transfer taxes and getting the monies to the right parties. 

It spelled out the terms of the purchase and a deadline for me to exercise it.