Give

Leave Your Legacy

Charitable Bargain Sale: FAQs

What if the property has a mortgage or other lien on it?Layer Closed

The mortgage or lien can and should be paid off prior to the bargain sale or with the sale proceeds received by the previous owner. This produces the best tax benefit to the donor/seller. If the charity assumes the lien or mortgage, then this is considered taxable income to the donor/seller.

Why not sell my property and make a gift from the proceeds of the sale instead?

When you enter into a bargain sale you receive an immediate infusion of cash from us. This may help bridge the gap between residence sale and purchase of a new residence, or other immediate needs for cash while a sale of your appreciated property is pending.

Can I choose the appraiser who determines market value of my property in the bargain sale?

Yes, in fact, we may also choose to conduct an appraisal for our due diligence purposes, but part of a bargain sale is asking you to choose a qualified appraiser to evaluate the market value of your property. A qualified appraiser not only helps both of us determine your fair market value, but is required by the IRS when you file for a deduction from the bargain sale transaction.


Next


Back


A Culture of Philanthropy

You can make your charitable contribution to St. Andrew’s by choosing any of the following payment options below.

Methods of Giving

List of 7 items.

To learn more or make a gift, please contact the Advancement Office at 240-477-1704. 
Did you know? You can give more for less by donating appreciated assets! Click here to learn more.
St. Andrew’s Episcopal School is a private, coeducational college preparatory day school for students in preschool (Age 2) through grade 12, located in Potomac, Maryland.