Roy Frank and Mark Maupin of Donating Real Estate said “Our program is designed to make the process of transforming real estate gifts into valuable assets for charity as simple as possible. Donating Real Estate will guide you through each step along the way, while serving as the single contact point between you and the charities. Our real estate professionals can get you started immediately. Just contact us by phone or fill out our online form to initiate the giving process”
Roy will be at the up coming Real Estate Investing Association meeting in Michigan on the 18th of this month to answer any question people may have on the donation process. Information on meeting is at http://MegaEveningEvent.com .
After the initial contact, our real estate agents will schedule and appointment to look at the property. This preliminary inspection is simply to determine the condition of the physical property itself, inside and out. Based on this inspection, we will then make the decision to move forward with the donation process.
Upon the decision to proceed with the donation, the next step is to send you a donation package, which consists of the following documents:
When the donation package is signed and completed, our real estate professionals will schedule a full inspection that includes a thorough evaluation of the property along with everything associated with it including all books and records, as well as the title commitment.
After the completion of the full inspection, we will make a recommendation to the charity regarding the real estate gift. At this point, all properties are immediately insured for fire and liability to protect the charity.
From there, we can assist you in finalizing the transaction in a timely and efficient manner. We continuously work hard to make the property donation process easy for all of our generous corporate and individual donors.
We understand that you may have many questions regarding the overall procedure. Here are some common inquiries that we frequently receive. For any further questions, please do not hesitate to contact us.
This article is by Ralph Maupin and Roy Frank; they have been involved in over 3 million dollars worth of donations going to Charities. For information and Free CD on the donation process go to http://www.DonationProcess.com .
Donations Of Real Estate Are Sometimes Referred To: Charity Real Estate, Estate Homes, Donation Of Real Estate, Donate, Real Estate, Donate Use, Donations, Property, Real Estate, Donate Property, Donating Real Estate, Donation Of Real Estate, Donate Real To Charity, Donating Real To Charity, and Tax Deduction.
1-877-877-7411 | 20700 Civic Center Drive, Suite 170 | Southfield, MI 48076
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Welcome!
Are you holding onto property that fails to yield annual revenue, when you could be enjoying a generous tax savings? While holding on to depreciating property, at the same time, you may be holding on to a considerable federal tax deduction for you as well as a valuable asset to a charitable organization.
Many are burdened with unwanted property simply because they are unaware of their options. In numerous circumstances, selling is not ideal for unproductive property due to the hefty costs involved that overshadow the actual property worth. Because of this, many people hold on to idle real estate for lack of a better alternative, and are frustrated paying excessive costs without seeing any return on their investment. But for all those frustrated, there's hope. Donating Real Estate can offer you the solution you have been waiting for.
Property donation is proven time and again as the best alternative to selling, due to the quick liquidation of assets, numerous tax breaks, and opportunity to benefit charitable foundations. Everyday, more people are discovering the ease of donating property through Donating Real Estate. We are an organization that specializes in handling all of the aspects of the real estate donation process for individuals, corporations, and charities. We are dedicated to ensuring that property donation is a very positive and rewarding experience for all.
Whether you are an individual or corporation considering real estate donation, or a charity in need of help processing contributions you receive, Donating Real Estate can help. We continuously guide individual donors through the process by offering our expertise as well as managing the details that may otherwise seem overwhelming. We also help corporations both large and small liquidate property holdings in a timely manner to avoid conflict with government regulations. Additionally, we assist many nationally renowned charities facilitate the generous gifts that they are offered. These charitable foundations have been able to accept more donations and thus generate more revenue by allowing us to handle the real estate contributions they receive instead of processing the donations in-house.
Donating Real Estate has played a significant role in the rapid growth of real estate fundraising by serving as the essential link between the individual and corporate donors and the charities. Through our outstanding real estate professionals, experience, and industry knowledge and expertise, we have established the reputation as the premier consultant to Charties and Doners.
Regardless of the overall condition of your property, Donating Real Estate can help you obtain the most value for you and a charity in need. We have helped many people Donating nearly every type of property, each ranging in value. If you're seeking a way out of unproductive real estate, or just looking to Donating a generous piece of property, then rely on Donating Real Estate for the successful completion of the charitable giving process.
E-mail Addresses
info@donatingrealestate.com <!--<A href="http://mailto:soharris@Donaterealestate.com" mce_href="http://mailto:soharris@Donaterealestate.com">Shannon O'Harris</A><BR><A class=link1 href="http://mailto:rfrank@donaterealestate.com" mce_href="http://mailto:rfrank@donaterealestate.com">Roy Frank</A><BR><A class=link1 href="http://mailto:mmaupin@donaterealestate.com" mce_href="http://mailto:mmaupin@donaterealestate.com">Mark Maupin</A>-->
Address
Donating Real Estate
20700 Civic Center Drive,Suite 170,
Southfield, MI 48076.
Phone:1-877-877-7411The Process of Donating Real Estate
Our program is designed to make the process of transforming real estate gifts into valuable assets for charity as simple as possible. Donating Real Estate will guide you through each step along the way, while serving as the single contact point between you and the charities. Our real estate professionals can get you started immediately. Just contact us by phone or fill out our online form to initiate the giving process.
After the initial contact, our real estate agents will schedule and appointment to look at the property. This preliminary inspection is simply to determine the condition of the physical property itself, inside and out. Based on this inspection, we will then make the decision to move forward with the donation process.
Upon the decision to proceed with the donation, the next step is to send you a donation package, which consists of the following documents:
- Quit claim deed
- Warranty claim deed
- Donation agreement
- Declaration of the deed and gift
When the donation package is signed and completed, our real estate professionals will schedule a full inspection that includes a thorough evaluation of the property along with everything associated with it including all books and records, as well as the title commitment.
After the completion of the full inspection, we will make a recommendation to the charity regarding the real estate gift. At this point, all properties are immediately insured for fire and liability to protect the charity.
From there, we can assist you in finalizing the transaction in a timely and efficient manner. We continuously work hard to make the property donation process easy for all of our generous corporate and individual donors.
We understand that you may have many questions regarding the overall procedure. Here are some common inquiries that we frequently receive. For any further questions, please do not hesitate to contact us.
Frequently Asked Questions
When will I know if charity is willing to accept my donation?
Upon the initial inspection, our professionals will be able to determine if property is an acceptable donation. From there, we will make a recommendation to the charity.What if my property is not accepted?
After the property inspection, Donating Real Estate reserves the right to terminate the Donation Agreement and you as the donor along with Donating Real Estate shall have no further rights or obligations to each other.Who pays the expenses?
Expenses incurred during the inspection period such as title insurance, property insurance, environmental testing, probate or tenant eviction issues and costs to secure the property are absorbed by Donating Real Estate if the property is not accepted. There is no charge to the donor or the charity.How long does the donation process typically last?
The average donation period ranges from 30-120 days, beginning from the initial contact to the transfer of property title. However, the donation period may be extended on a case-by-case basis if any minor delays or issues arise regarding a specific piece of property.What costs will I incur during the donation process?
You are responsible for all of the regular costs associated with the property until the acceptance of property by the charity. This includes all taxes, bills, and mortgage. You will also be responsible for property maintenance until charity closes donation transaction.What if I am missing important paperwork?
Because the closing takes place through a title company or an attorney, a title search will be performed so that all the necessary paperwork will be obtained in order to proceed with the closing.What is a simultaneous closing?
A simultaneous closing occurs when the donor conveys the property title to charity, and at the same time, the charity transfers the title to the new property owner.Do I have to attend the closing?
No, by the time of the closing, you will have already signed the necessary paperwork. On occasion, there may be additional issues that need to be taken care of usually in regards to the title search. Usually if this occurs, it is just a matter of signing additional paperwork and the issues can be resolved before the actual closing.At what point am I no longer responsible for the property?
The donor's responsibility ceases at the end of acceptance of the property by the charity.Can I make a partial donation?
Yes, some of our donors have found it more beneficial to give a percentage of the property to the charity.Who Can Donate to Charities?
Who Can Donate to Charities?
Who Can Donate?
Those that want to help charities.
Anyone that desires an IRS tax write-off.
Businesses with abandoned properties.
Fully depreciated properties Uninsured catastrophes.What Kind of Real Estate Can be Donated?
Residential
Industrial
Apartments
Any Type of Mortgages
Properties Subject to Life Estates
Commercial
Vacant Land
Hotels
Any Type of Land Contract
Sandwich Leases<!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:PunctuationKerning /> <w:ValidateAgainstSchemas /> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:Compatibility> <w:BreakWrappedTables /> <w:SnapToGridInCell /> <w:WrapTextWithPunct /> <w:UseAsianBreakRules /> <w:DontGrowAutofit /> </w:Compatibility> <w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel> </w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:LatentStyles DefLockedState="false" LatentStyleCount="156"> </w:LatentStyles> </xml><![endif]--> <!-- /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:""; margin:0in; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:"Times New Roman"; mso-fareast-font-family:"Times New Roman";} p {mso-margin-top-alt:auto; margin-right:0in; mso-margin-bottom-alt:auto; margin-left:0in; mso-pagination:widow-orphan; font-size:12.0pt; font-family:"Times New Roman"; mso-fareast-font-family:"Times New Roman";} span.header {mso-style-name:header;} span.copy {mso-style-name:copy;} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.25in 1.0in 1.25in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} --> <!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} </style> <![endif]-->Tax Benefits of Donating Real Estate*
Individuals
The following rules apply if the Donating property is owned in your own name, with your spouse or other persons:If you have held the property for more than one year, it is classified as long term capital gain property. You can deduct the full fair market value of the donating property. Your charitable contribution deduction is limited to thirty percent (30.00%) of your adjusted gross income.
Excess contribution value may be carried forward for up to five years. If the property has been depreciated, the fair market value must be reduced by its accumulated depreciation through the date of contribution. Fair market value is most commonly determined by an independent appraisal.
If you elect to deduct your cost basis of the donating property you are allowed a deduction of fifty percent (50.00%) of your adjusted gross income. Excesses here again can be carried forward up to five years. Which method you elect is dependent on the cost basis in the property donating, your tax bracket, the age and health of the donor and whether you plan to make future contributions.
Corporate Donors
The following rules apply if your contribution is made by a corporation, these rules apply:If you have a controlling interest in the corporation and the property has been held for more than one year, the corporation can deduct up to ten percent (10.00%) of the net profit of the corporation.
Excess contribution amounts can be carried forward up to five years. The fair market value here must be reduced by the amount of accumulate depreciation.
If the corporate has elected "Subchapter S" status, then the contribution allowed will be reported on the individual shareholders K1 and may be deducted on the individual return.
Partnerships, S-Corporations and Limited Liability Companies
The following rules apply if your contribution is being made by a partnership, S-Corporation or limited liability company:
The corporation may not claim a deduction for the property donating. Rather, the contribution passes to the individual shareholders on a pro-rated based on their percent ownership in the S corporation. The shareholder can claim this deduction on their individual tax return. The same limits and carry forward rules will apply.
Partnerships and limited liability company contribution rules are the same as an S corporation with one exception the partners or member can claim a deduction even if they have no basis in the partnership or limited liability company.
* Please consult your CPA/Attorney for your specific tax benefit.
“We got rid of a property bleeding us in overhead taxes, water bills people breaking in, instead we got huge tax deductions”
My family donated an old home in Pontiac, Michigan. The house needed repairs and we could not get it sold. We did not want to spend any more cash on a run- down house. So we donated the property to charity. They were very happy to get it and we ended up with a great tax deduction. Donating Real Estate Consultants made the donation process simple. I am a commercial real estate agent and I currently am working on a second donation from one of my clients on a warehouse they no longer need. What I love is we are going to be able to deduct 10% from their corporate earnings and carry it forward for up to 5 years thanks to Donating Real Estate Consultants
Pat Winter Southfield, MI
you have any good testimonials that clients have provided you in the past? Be sure to add them here.
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