Benefits of Donating a Property to a Nonprofit Organization
Robert received 4 properties in exchange for some work he did around 30 years ago. But it was as if he were never paid payment for his work after all. He just couldn’t move those properties.
Robert tried to sell them, pricing them in total at just over $300,000. But no one bit. The annual maintenance for these properties, meanwhile, was more than $10,000. Payment for a job had turned into an expensive liability.
Then came a big, life-changing event: Robert moved to a new country. He just wasn’t interested in managing these money-losing properties from a distance. His kids didn’t want them either. Not now, and not in some distant future, as an inheritance.
Real estate donation turned out to be the perfect solution to Robert’s four problem properties. The process was simple, the properties are gone, and Robert is free once more.
This story is proof positive that real estate donation can save a situation and a lot of money, too. Especially, in the case where properties have become an albatross around the neck.
Just ask Robert.
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