How To: Get Rid of Unwanted Property
By: Katie Givingcenter
Tags: Real Estate, Nonprofit, Donation, Helping Others

Many people own properties that could benefit them far more if they donated the property, rather than keeping it and constantly having to upkeep or pay for maintenance, taxes, liens etc, etc. Do you now own an inherited property? Are you just finishing a probate and have probate Real Estate that must be sold? Or do you just own an unwanted property? Are you driving back and forth to your property, or spending thousands fixing up the place so you can sell it? Or is the property in such bad shape that it can’t sell? Consider a real estate donation today!

By leveraging resources, Giving Center is able to provide critically needed services to vulnerable populations, including veterans, seniors and the disabled, at less cost to stakeholders and the health care system in general. We have many well deserving Veterans and Elderly who would greatly appreciate your help and generosity! Your donated Real Estate will serve as a source of financial support or housing for folks who really need a helping hand.

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By donating real estate, you do not have to worry about selling the property yourself. We take care of everything, so that you are not dealing with low offers, repairs, liability issues, advertising expenses, or the time-consuming process of showing and selling your property.

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How It Works:

Step 1: Submit Property

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We Accept: Houses, Lots, Buildings, Condos, Mobile Homes, Commercial Property, and Apartments. We even accept mortgaged property, properties in foreclosure (in certain circumstances) and partial donations of equity. Your donated property will serve as a source of financial support or housing for folks who really need a helping hand.

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The intake process is quite simple. Just tell us some simple information about the property, and we will take it from there. Let us know your intentions, and what program you would like the property to go to. Let us know the time frame that you would like to complete the transfer and what tax year you would like to cover. We will go to work immediately from there.

Step 2: Property Review

Now it’s time to get to work. First we will determine the best use for the type of property. Some properties are best suited for some programs and not others. Depending on the need, we will determine the best use of the property. We then get in touch with our findings and together we decide on the path forward.

From there, we will order an appraisal on the property, to determine the full appraised value, with a licensed appraiser. That is the only cost to you, but it is totally tax deductible as well. You will receive the full appraised value of your property, as a write-off on your taxes (subject to IRS rules.) Once the completed appraisal is in, it is now time to complete the transfer. We are now on to the final step.

Step 3: Paperwork and Closing

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Welcome to the home stretch! Like we said before, we work hard to make the process as streamlined and simple as possible. This allows us to perform transfers as quick as possible. In many cases, if our donors agree, we can be done in as little as 15 days! Everything is done in house, or thru our trusted network.

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We will set up a closing date and all paperwork is drawn up by an attorney and/or title company. The final paperwork for the deduction of the value of the property is then signed, and delivered to you at closing. If there are any funds that were agreed to be disbursed by Giving Center, to any parties, they will be done at closing as well.