Inherited property donation
Five siblings from Cambridge, MD inherited a property a few years back. They tried listing it at $99,000 but got no bites. They dropped the price down to $75,000 but still – after almost a year on the market – the siblings just couldn’t find a buyer. That’s when they contacted us.
And that’s when a lot of things started to go very right, all at the very same time. The siblings, for instance, wanted to be sure the listing agent would receive her commission on the price as listed, and we made sure she did. Of course, we also arranged the title and the closing. Which was no small thing, when you consider that we managed to coordinate five separate mobile notaries for the siblings, spread out as they were across the country.
The broker received her commission. The siblings received a tax deduction (and a good deed!), while we at Kars4Kids, received a property that will help us carry on with our charitable mission for the kids.
And the thing is, when you work with a donor, you create relationships. Kars4Kids is now working in tandem with the siblings’ broker, working hard to aggressively push that property at a slightly lower price point. Because at Kars4Kids, we love it when a plan comes together.