Gifting real estate is a process that can be simplified using a program designed to transform real estate gifts into valuable assets for charity. Michael Schoen is a licensed real estate agent who specializes in coordinating the real estate gift as they work with the donor and the receiving charity.
If an investor contacts us about gifting real estate an agent will schedule an appointment to inspect the property and determine the condition, inside and out. If the agent decides to move forward with the donation process they will send you a donation package consisting of the following documents:
• Quit claim deed
• Warranty deed
• Donation agreement
• Declaration of the deed and gift
Upon receiving the signed and completed donation package, the agent will schedule a full inspection where they will thoroughly evaluate the property and everything associated including books and records and title commitment.
When the inspection and evaluation are complete, we will make a recommendation to the charity regarding the real estate gift. At this point, the property will be insured for fire and liability to protect the charity.
Gifting real estate is a process that must be handled properly to protect and benefit all parties involved. Michael Schoen will continue to assist you in finalizing the transaction in a timely and efficient manner, making the experience rewarding for the generous individual or corporate donors.
Michael Schoen represents the charity, Open Arms Church, and he understands that donors often have many questions regarding the procedure of gifting real estate. Read FAQs to learn more and don’t hesitate to call Michael at 248-757-1713 if you have any further questions or if you are ready to begin the process of gifting real estate.