Charitable Bargain Sales
With the charitable bargain sale, you sell your residence or other property to The Hotchkiss School at less than its fair market value. The transaction gives you cash that you can use to purchase your next home or as the entry fee for a retirement facility, plus a charitable income tax deduction for the discount you took from the market value.
We mutually agree on the purchase price for your property, and on whether we will pay you in a lump sum or through an installment note.
The bargain sale is the only gift plan that can:
- Give you both a lump sum of cash, and
- A charitable deduction.