Charity Auction Network is highly experienced utilizing the IRS Section 170 Bargain Sale to allow owners of higher value commercial real estate assets to donate partial equity and pay off liens and back taxes. If you have listings that are not achieving the value desired by the seller (large bid/ask spread with market buyers) turning to a Bargain Sale transaction can often bridge that gap by providing tax deductions between the cash portion paid by the nonprofit and the full gift appraisal value. The appraisal guidelines for donation purposes are different than a mortgage appraisal in that the seller is deemed to be under no compulsion to sell or the property has other value not considered by the current buyer pool. Using tax deductions and cash, the seller might often achieve a value close to or exceeding the full list price.
Brokers earn their commission at the closing of the donation transaction, often much faster than traditional market sale. In most cases brokers can also earn commissions when the asset is sold by the nonprofit (to realize their donation).
- Earn full commissions on your listings
- Fast closings 30-90 days depending on asset complexity
- Provide unique solution to your client that many agents are not aware.
- Avoid losing a high days on market listing with a proven approach
If you are a buyer agent and have a buyer for one of our nonprofit properties for sale, please assist your buyer with the easy charity auction bidding process and earn a generous coop fee. We pay the market average commission rate offered to buyer agents in the local market and posted on each property detail page. In addition, many properties are available on a ‘buy it now’ basis if you don’t want to wait for an auction to end.