2 Angels, LLC
We also work in the non-profit sector, where we buy or receive donated property, to in-turn provide affordable housing to low-to-moderate income families, veterans, and first time home buyers. Hard working families need a hand UP, not a hand out. Support your communities and go to 2 Angels Affordable Housing.org
What are the benefits of donating a house vs selling it?
People give away real estate all the time. Here are a few reasons why:
1). Many people inherit houses but can not afford the property taxes, maintenance fees, nor the cost to sell it such as legal fees, realtor commissions, estate, inheritance, or capital gains taxes.
2). Homeowners that were uninsured that experience catastrophes, such as fire or natural disasters, and can not financially maintain it.
3). In some areas, home prices have dropped so significantly that it may be most beneficial to take the tax write-off to avoid the stress of finding someone to buy it, as well as the closing costs associated with selling it.
4). Individuals who are financially well off may find it more advantageous to use it as a tax write off. You can do this by deducting the full value of the property, including appreciation on your federal tax return and do not have to report the appreciation as capital gains.
5). Fully depreciated properties that do not serve the financial interests of the donor, such as businesses with properties that are idle and the asset will never reach any useable potential.
Improving Lives One House At A Time
Contact our non-profit organization and donate your property today.