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Explaining the Equity Holding Land Trust to Sellers
| | Wednesday, February 12, 2003 @ 05:00 AM EST
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Contributed by: Derrick Ali
Derrick Ali Properties
Read more archived articles about Buying
Hi Everyone!
It’s Derrick Ali again with some Tips on how to explain the Equity Holding Land Trust to A Seller or pre-foreclosure Homeowner
I have attached some sample Ads from my RE Investing Quick-Start Success eBook:
Go to:
http://www.thecreativeinvestor.com/ChanPart-DerrickAli.html
Below is a brief explanation that should ONLY BE USED BY YOU AFTER the Seller is nodding their head (Yes!!!)to these following 2 QUESTIONS:
(Script)
#1
"I'm desperately looking for a situation with a seller (landlord) like you who for a FULL-PRICE or BETTER, might be able to hang onto the existing loan(or STAY ON THE LOAN)for a year or so, while I cover all the payments and costs on the property...
And
#2
Also LEAVE SOME or ALL of their EQUITY in PLACE until I can refinance and pay it off...in say a couple of years...kind of like a Lease Option Arrangement (except it’s Safer and More Profitable)."
-0-
After repeating this in your 52 Call Exercise (LEAVING MESSAGE ON Answering Machines too!)Be sure to get an appointment IN PERSON to go over the details, SAVE the ATTACHED: EHTrust.doc (To be used as a Presentation.)
WHEN YOU MEET PERSONALLY WITH THE SELLER:
Feel free to go over the EHTrust.doc either as a Table-Top or Flip Chart presentation to assist you to Educate
(read: CLOSE) the seller, landlord and/or realtor on the benefits of lease-optioning to you using all of the protections and flexibility within an Equity Holding Trust Agreement.
Explanation of the EHTrust:
(script to use)
1.) Mr. seller, Basically the home is placed into a Trust FOR YOU in
YOUR OWN NAME so as not to endanger the title or violate due-On-Sale
clause .
2.)I will merely become a beneficiary with you in the trust rather
than your needing to put my name on the title as an owner.
3.)...This way the property is PROTECTED from judgments, divorce
actions, bankruptcy, state and/or federal tax liens, criminal
prosecutors liens can't touch a property in an Equity Holding Trust.
4.) We then agree that I will sell or refinance the home in a few
years, say 3-4, your choice...and that is when I'll take the title and
finance it in my own name.
5.) This is virtually the same as buying any other way: EXCEPT that
you need never worry about me, the property, the SAFETY of your
Title, nor any lender concerns over transfer issues!
-###-
THAT'S IT for this Week and keep us informed of your progress!
Much Success!
Derrick Ali
Note: Derrick Ali is Director and Chairman of Consumer Mortgage Loan Advocates. He is the author of The Quick Start Real Estate Investing Guide. Derrick specializes in Land Trust Transaction Engineering for Equity Holding Trusts(tm) and/or PACTrusts (tm)
methods. You can also hire him to consult you on the set up of these Land Trusts for you.
Word Cloud:
and/or property home trust with refinance like name seller, sellers this explaining land ehtrust.doc seller equity will over holding some title used
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