The present invention discloses a method for transferring residential property that is in need of repair and located in an economically disadvantaged neighborhood. The method involves a seller, a buyer, a nonprofit entity and a building contractor, with the method comprising the steps of : (1) the seller contracting to sell the property to the buyer contingent upon a specified amount of the sales price being donated to the nonprofit, (2) the nonprofit agreeing to accept the seller' s donation and provide the seller with a receipt that can be used by the seller for tax purposes, and to use at least a specified amount of the donation to pay the contractor for specified repairs and renovations to the property, (3) the contractor agreeing to perform the specified repairs and renovations on the property for the specified amount of seller' s donation, and (4) the buyer agreeing to buy the property from the seller under the condition that the specified repairs and renovations are to be made to the property by the building contractor.