July 8, 2008 at 7:29 pm #4955
I have a couple that would like to put their home in a simple land holding trust. They do not want to sell just have the protection of the land trust. Do I just send them to you or can I make a buck out of it some how.
Thanks KeithJuly 9, 2008 at 3:56 am #26333
just call me richMember
I do not work in the Doc dept. and may be out of line here, but if you are a NARS member, then you get a discounted rate on setting up trusts. Could you not charge full price and keep the difference for helping them?July 9, 2008 at 11:41 pm #26334
Hi Keith -
Rich has it stated correctly.
As a NARS Network Member, you may indeed generate a Simple Trust for another party and charge them the published public rate of $239.00 for the Trust Agreement plus $125.00 for the Title Transfer Deed plus $199.00 for a Limited Power of Attorney Doc (if applicable), all of which we will generate, plus the Trustee Title Holding Fee of $144.00, paid annually to Equity Holding Corp.
You would then pay $139.00 for the Trust Agreement plus $125.00 for the Title Transfer Deed plus $99.00 for a Limited Power of Attorney Doc (if applicable), all of which we will generate, plus the Trustee Title Holding Fee of $144.00, paid annually to Equity Holding Corp.
This would enable you to generate $100-200.00 income for yourself for your time and energy spent in generating a land trust for your friend’s property.
However, please be advised that Mr. Bill Gatten himself will likely have an absolute vein popping fit if he finds out that you are either charging more for that or advertising this service. If you want to help out a friend or two, then that is one thing. Generating an actual income stream by using the “sale” of Bill’s intellectual property as an ongoing business model is another realm altogether.
Please tread lightly on this one and if you have any questions on this topic, call in and ask for me or Steve Perez. He will be glad to explain policy.July 11, 2008 at 6:10 am #26335
Thank you for the answer. I will tread on nothing that is why I wanted to ask first. I will send them to this site and or have them call to set up the trust.
I have no desire to upset anyone and especially the big guy. I just get very disappointed in not getting a deal to go through. Seems like every one I talk to owns the house free and clear and they do not want to refinance it to take money out. I have one that has dropped in price from 165k to 138 which is about what the price really should be and has been sitting empty for 9 months at this price and she still won???t refi. I just don???t know what to do with these.
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