How it Works
Real Estate Accepted
We will consider any type of property that has positive equity, a clear title, and no environmental issues. Common property types that are donated are land, estates, second homes, rental properties, and commercial real estate. Please note: Timeshares and mobile homes cannot be accepted.
Easy
Real estate donations are quickly vetted and converted to cash through a national real estate sales platform and a title company partnership. We make the entire process as streamlined and convenient as possible.
What do I need in order to donate?
In order to donate property, we must have written consent from any and all property owners. Your letter of intent will outline the donation terms. The title report will show the related ownership information.
Can I donate real estate with a mortgage balance?
Yes. Prior to the sale, Giving Property will determine if the likely value exceeds the mortgage balance. The proceeds from the sale are then used to pay off any mortgage balance. Please note: In cases where an asset doesn’t have enough equity to result in a surplus, we will not be able to accept it.
Who pays commissions and/or closing costs?
Donors do not have to pay any commissions. If the property is currently listed with a broker, Giving Property will pay the commission owed based on either the list price or the tax assessor value if there is no list price. All unpaid liens will be paid off at closing. The donor is generally not asked to pay anything out of pocket, and there are no closing costs to the donor. Prepaid property taxes and assessments will be remitted back to the donor at closing.
Tax Benefits
All real estate donation tax deductions are based on the full appraised value, not the sale price. In most cases, donors may deduct the difference between the cash received and the fair market value based on an appraisal specifically completed to assess the value based on IRS guidelines. Donors may not deduct proceeds that were applied to pay off mortgages or back real estate taxes. The deduction can be carried forward up to five years following the year of sale.
*please consult your tax advisor as individual situations vary
How long does it take to complete a real estate donation?
Most property donations will be completed within 45 days. Our goal is to maximize the value of the property.
Questions?
If you have any questions, you can contact our support team directly at 844-277-HOME (4663) Monday–Friday during regular business hours.