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Charitable Bargain Sales
(Gift illustration)
How it works
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You sell your residence or other property to Berkeley for a price below the appraised market value, resulting in a transaction that is part charitable gift and part sale. |
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Berkeley may use the property, but usually elects to sell it and apply the proceeds of the sale for the gift purposes you specified. |
Benefits
- You receive an immediate income tax deduction for the appraised market value of the portion of the property you donated.
- You pay no capital gains tax on the donated portion of the property.
- You use cash from the sale portion for your needs (e.g. ...to retire a mortgage or purchase other property).
- You have the satisfaction of making a significant gift to Berkeley during your lifetime.
For more information
Email us, complete the personal gift proposal form, or call us at 510-642-6300 so that we can assist you through every step of the process.
