We accept all types of property, in any location, including land, homes and commercial property as long as there is equity.
If you have a real estate asset that is costing you money or not being utilized, donating it is a great way to give back and you may even be able to claim a significant tax deduction! To get started, just complete this secure online donation form or call 844-277-HOME (4663) to speak to a representative.
- Avoid the hassles of selling your property
- Forget about hefty repair bills or back taxes
- Your donation may be tax-deductible
Fill out our donation form to get started...we'll take it from there!
Frequently Asked Questions
Yes! Our partner, Giving Property, powered by CARS, has a national real estate auction platform and partners with a national title company so we can quickly vet assets and convert them to cash without the ETV Endowment ever having to own or operate the asset. Also, using the IRS Bargain Sale, the ETV Endowment can accept real estate with mortgage debt and high-value assets with a portion of the equity going to the ETV Endowment and a portion in cash to the donor.
Any type of property that has positive equity, clear title and no environmental issues may be donated. Common property types are land, second homes, rental property, commercial real estate and estates. We do not accept timeshares or mobile homes.
Most donated properties will be completed within 90 days, and some as quickly as 14 days.
Real estate donations are based on the full appraised value, not the sale price. Capital gain tax may also be avoided (excluding the mortgaged portion or cash received). The deduction can be carried forward up to five years following the year of sale.
In most cases, you 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 gift appraisal guidelines. You may not deduct proceeds that were applied to pay off mortgages or back real estate taxes.
Yes, the ETV Endowment will resell the property with its national auction partner and the proceeds of the auction sale will pay off the mortgage balance first, with the remainder going to the ETV Endowment (after normal closing costs such as escrow, title fees, transfer tax, real estate commissions, etc.). Prior to the auction we will determine if the likely value exceeds the mortgage balance and we may have to reject any asset that does not have sufficient equity to result in cash proceeds to the ETV Endowment.
If your property has a high value, you may elect to donate a portion of the equity to the ETV Endowment (falling under a Bargain Sale - IRS Section 170).
You do not have to pay any commissions. If your property is currently listed with a broker, the ETV Endowment will pay the commission owed based on the list price, or tax assessor value if there is no list price. There are no closing costs to the donor and all unpaid liens will be paid off at closing. The donor is generally not asked to pay anything out of pocket and prepaid property taxes and assessments will be remitted back to the donor at closing.
We have the ability to process properties with environmental issues, however, only high-value assets would be considered due to the risk and complexity. We have investors specialized in environmental clean-up and often issue indemnities to sellers via complex insurance placements.
It depends upon the transaction. If the ETV Endowment can't achieve a resale sales price that results in a surplus, or if there are title or serious repair issues found, the nonprofit may terminate the donation agreement.