Next-Door Neighbors


Outright Gift

The Story of a Gifting Multiple Homes from Wayne, PA

In early 2022, a Philadelphia area real estate investor was referred to Realty Gift Fund by his financial advisor.  The investor owned several residential rentals, had a long history of charitable giving, and wished to learn more about the tax-smart approach to gift real estate and improve his philanthropic impact.

After the initial call, RGF prepared a Net Gift Estimate on each of the Donor’s six properties, allowing him to select the two that fulfilled his goals.  RGF approved his choices and recommendation to use these donations to fund his existing donor advised fund.

We learned that both homes would need repairs before heading to market.  So, prior to signing the Donation Agreements, RGF assembled a real estate broker, title company and general contractor as its local team.

The smaller home was vacant, allowing RGF immediate access once the contracts were signed.  Based on a careful evaluation, RGF agreed to a $7,000 budget for a specific list of repairs.
After repairs, RGF publicly listed the property then accepted a full price offer within 10 days of the initial open house.  The buyer’s due diligence uncovered hidden issues with the electrical wiring, and the lender required some asbestos remediation, both covered by RGF.

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