Consider Changing Your Investment Strategy

Whether it’s a change in a retail climate or perhaps a promising new venture,when real estate investors need to react swiftly, one of the best tools to consider is an IRS Section 170 Bargain Sale.
Here’s a quick summary of a Bargain Sale:
  • An owner offers a property to a qualifying nonprofit at a reduced sales price.
  • The nonprofit accepts and pays cash at closing for the property.
  • The seller additionally receives a tax deductible for the difference between the sales price and the Fair Market Value, usable for up to five years.
Here are a few of the reasons an investor might want to consider a Bargain Sale:
  • Tax Liabilities –Much of the benefit comes from a large charitable contribution deduction to a seller with a corresponding tax liability.
  • Philanthropy – This statute was originally passed to enhance and encourage gifting.
  • Quick Sale – Often, a Bargain Sale will be completed much more quickly than a traditional transaction, primarily for the lack of a need to traditionally market the property.
  • The Next Business Venture – Combining the cash at closing with freed-up funds previously designated for tax payments, many owners can often move into a new and promising undertaking.
  • A Favorable Appraisal–The appraisals allowed under a Bargain Sale are extremely advantageous to the seller. Rather than a standard “bank” appraisal, a Bargain Sale appraisal tips the assessment towards the seller, pushing the profit possibilities higher that in a regular sale.
The Bargain Sale can allow an investor to shift focus and free funds for a new endeavor quickly, so reach out to Dr.Joe Johnson’s team at Welfont Joe Johnson today for a clear view of your options.
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