I was on the selling end of a PAC trust that was in Oxnard CA in 1994 and it worked well. It was brokered by a real estate agent. I am now in a situation where I would like to buy using this method but I am not an Investor I just want a home for my family. is there a real estate agent in the Fresno CA area that cold help me
I think it might be better for you to post your wish to become a Resident Beneficiary (RB) in a NEHTrust in the other forum for “Deal Makers and EHT Opportunities”. You can state that you’re looking a long term NEHtrust with the required initial contribution or a “Tax Lease”. You don’t want to unnecessarily bring in a Realtor as their commission/Beneficial interest in the trust is not needed and means you and the IB have more cost to pay!
Go find a house that someone is willing to stay on the loan and keep their equity if any in place. Anyone of us can help you here. If the property is listed then you will have to pay a commission to the listing agent.
Many people will suggest (and have done so in the past) to a seller (when it can be proven that the listing agent is NOT the “procuring cause”) that the listing be canceled and that the property not be sold, but instead that it be leased to a beneficiary of the land trust that holds (will hold) the property’s title.*
Ergo…no sale and no purchase of th e realty in question…only a personal property bulk transfer of beneficiary interest in an inter vivos trust and a leasing out of the property…no foul. Do carefully note, however, that if the agent can prove that their [former] client would not have known about you were it not for their having spent time, effort and money re. the listing…then your settlor beneficiary could be sued for the commission.