"REAP" the Benefits of Equity Sharing -- Buy, Sell and Profit from Previously Unsalable Homes

Real estate agents, mortgage brokers, home sellers and home buyers can now stimulate new sales activity in a sluggish housing market. Slow moving or non moving real estate locations throughout the United States have a new and innovative solution for selling homes. The answer is real estate equity sharing with the use of a safe and secure living trust and the Real Estate Assisted Partnership. With REAP, any home is now safely assumable and ready for sale.

Salt Lake City, Utah (PRWEB) November 14, 2008 -- Creative financing in real estate is nothing new. The concept has been around for centuries. When money and credit get tight, like in today's economy, home sellers and buyers have two options, do nothing, or think of an alternative to make the sale of a home work. Over the years, many new ideas for creative real estate transactions have come and gone. Some have treacherously stood the test of time; wrap around mortgages, installment sales and lately, Lease/Options have gained popularity. Throughout the decades of real estate peaks and valleys, one thing has remained constant, even during down trends in real estate markets, home sellers still need to sell and home buyers still need to buy. And even though home sellers know that contracts for deeds with seller assisted financing has been proven to be inherently dangerous, many home sellers still take the risk of losing, or at very least, damaging their titles and credit just to get out of having to make unwanted mortgage payments. Some inexperienced home owners have tried their hand at becoming landlords by renting out their properties to total strangers only to learn of the pitfalls that come with leasing. The rest do nothing, losing their hard earned equity to months of unnecessary mortgage payments.

Transaction Management Consultants, TMC, has heard the cries of home sellers that can't sell, home buyers that lack the cash and credit to qualify for a loan, Realtors working part time jobs because there aren't enough real estate sales commissions to pay the bills and mortgage brokers looking for new professions because of crazy and ever changing underwriter's guidelines. TMC has discovered a safe and effective solution for successfully closing real estate transactions that mutually benefits and protects all transaction participants. TMC calls this new form of equity sharing the Real Estate Assisted Partnership or REAP.

Here is how REAP works. Through the real estate agent, a home buyer that has a job and can make monthly house payments, but lacks cash and credit, offers the seller up to full price for their home. In exchange for the full price offer, the seller agrees to keep their equity and mortgage in place for a few years and lets the future home buyer, (now the occupant); assume the seller's mortgage payment and all ownership responsibilities such as upkeep, taxes, repairs, etc. As a safety feature, and to avoid the possibility of foreclosure, liens and judgments against the home buyer that could attach to the seller's title and other title clouding issues, the home seller places his property into a living trust, in this case a land trust with a possessory and occupancy agreement, (or a net lease, similar to a commercial net lease), and deeds the property title to a third party corporate trustee to hold the title as if in escrow. The seller becomes a beneficiary of his own trust with all control and ownership rights of the property. A property now in a living trust also avoids any lender due on sale admonitions because a property deeded to a trust is not considered a transfer of title.

REAP then arranges for any needed cash and credit assistance to the home occupant, allowing the occupant to assume all home ownership obligations. The seller then includes the prospective home buyer as a beneficiary of his trust. All participants, the seller, buyer, agent and TMC get a share in the current or future equity of the property as beneficiaries of the living land trust according to the performance standards set forth in a well prepared beneficiary agreement.

On or before the termination date of the trust, the occupant, now a qualified buyer can go to his mortgage broker and refinance the home. The home buyer now pays off all of the equity share beneficiaries. The seller gets paid. The real estate agent gets paid. The mortgage broker gets paid. Everyone gets paid in a transaction that was previously going nowhere.

TMC believes that the Real Estate Assisted Partnership is the new safe and secure real estate sales wave of the future. TMC is hosting REAP seminars throughout the United States. Real estate professionals are encouraged to call TMC at 801-850-6879 and schedule a seminar with a REAP representative in their area. Home sellers that are experiencing difficulty selling are also encouraged to call a REAP representative for an offer on their home.

Note: REAP is a marketing term only that was created by TMC and does not represent a legal partnership. TMC, an independent organization, utilizes a safe and patented system of documentation called the NARS Equity Holding Land Trust created by North American Realty Services to facilitate a REAP style transaction.

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