Donate Your Real Estate – healing the black family

Why should someone donate their property or land to a non profit organization?

Maybe you’ve never thought about donating the house that currently may be frustrating you. No matter the problem you’re having or the shape your house is in, we may be able to benefit from you donating your house. One man’s trash is another man’s treasure and in all reality, our youth and their families really benefit from you donating your house.

You see, without your donation, our students might not have anything to work on that can get them through school. Also, after they are completed with all the repairs there is always a family that will want to move into it to make their situation improve for the better.

Here are also a few reasons individuals and companies donate their property:

Benefits of donating your land or properties?

First, you potentially eliminate the capital gains tax you would incur if you sold the real estate yourself and donated the proceeds.

Second, you may claim a fair market value charitable deduction for the tax year in which the gift is made and may choose to pass on that savings in the form of more giving.

Here are the 7 benefits of donating land/ properties:

Selling takes time

The average home stays on the market for 2 months or more. If a seller is in a rush to move on from the property, either because he lacks the resources to hold onto it anymore or is located far away, or for any other reason, these time frames become difficult.

Broker’s commission:

When listing a home or property for sale with an agent, they will typically take anywhere from 4-6% commission on the sales price as payment for their service of facilitating the transaction.

Helping a good cause

Of course the main reason to donate is the great feeling that comes with doing a good deed. Donating the property can provide a proper sense of giving and knowing the property will be used for something good in the world.

Long distance property owners

There are many reasons why someone would own a property far away from their primary residence. Owning a home you have no use for can become a financial burden, like property taxes, vandalism, squatters, and neglect. When donating the property, you can feel relieved of all these issues.

Worry free

Owning a home or any property creates a lot of responsibility. Maintaining the property, managing a rental (or even worse, a vacancy) can be a full time project it can really become overwhelming. When donating to a charity the entire process is effortless and like you are doing your part of charity in the world to help someone else.

Different and unique property

Occasionally, a very valuable property can be very difficult to sell. The amount of time it may take to sell because it’s different. You may begin to accrue large liabilities in the form of maintenance and taxes, before selling for the full amount. Property owners may find it significantly beneficial to take the tax deduction to offset current income.

Tax savings

This is the most common motivation to donate. The full Fair Market Value (as determined by an appraisal) can be deducted from the donor’s taxable income. This, in addition to avoiding Capital Gains tax on an appreciated property, can make real financial sense to donate instead of selling.

If you are considering donating your real estate property, please don’t hesitate to contact us by Clicking Here.