Wholesalers Agreement Form In Michigan
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Published . A wholesale agreement binds a supplier and a customer and establishes the business's rights and obligations between the two parties.
Under the Michigan Occupational Code Act 299 of 1980, individuals engaged in real estate transactions must typically hold a real estate license. However, wholesalers operate in a niche that allows them to sell property interests without a license via contract assignments.
Businesses, who sell tangible personal property in addition to providing labor or a service, are required to obtain a sales tax license.
Can you wholesale in Michigan without a license? Yes, you can wholesale real estate in Michigan without a license. Ensure to convey to the buyers that you are selling your rights over the wholesale contract and not the property itself.
While it's not strictly required, creating an LLC can bring significant perks to your wholesaling venture. For starters, it shields your personal assets from any business-related debts or legal troubles.