Real Estate Planning
The Real Estate Plan can help you achieve your investment goals. Donors are taking advantage of this program to transfer their house, condominium or other property to the FPU Foundation in return for regular payments, cash settlement or other investment options. They find this opportunity a convenient way to make a significant gift to the university, a gift that might not otherwise be possible.
Choices of compensation:
You may choose to receive a guaranteed cash settlement for up to 60% of the appraised value of the property. In most cases, you will be entitled to a charitable income tax deduction for the difference between the appraised value and the cash settlement. We pay closing costs. You pay carrying expenses until closing day, and utilities until you move.
You may decide to receive payments over a period of years. These payments are guaranteed for the life of the contract. The payment schedule and size are designed to meet your particular needs. These payments are guaranteed to you or to your estate.
The FPU Foundation has several planning options that allow you to reduce capital gain and other taxes. You may decide to invest your cash settlement in securities, bonds and funds, or you may decide to invest in one of the trusts or annuities available to you through the foundation.
You may choose to cash out part of the settlement and receive some of the settlement as payments.
You may also choose to give your home to the FPU Foundation now and continue living in the home for the rest of your life. This plan provides income tax savings, avoids probate costs and eliminates capital gains tax.
You control the timing of the sale; there is no "market wait" to sell your home. You pay no closing cost, brokerage commissions or points. You do not have to open your home for potential buyers to view. You sell your house in a private and confidential manner. We handle all the sale details. You decide if you want to receive a cash settlement or immediate regular guaranteed payments, regardless of when we sell your home.
The 100% Plan Option
You may also elect the 100% of the appraised value of your home paid in monthly payments over a period of years.