Gifts of Real Estate - How they work
Real estate can make an excellent gift to St. John’s. Whether an investment property, a personal residence, or a second home, gifts of real estate can often make valuable gifts that benefit both the donor and SJS. Following the St. John’s real estate checklist (available in the Advancement Office) donors need to provide relevant information about the property and gather the necessary documents about the property.
Donors also need to secure an independent appraisal of the property. Usually, an MAI certified appraiser will provide the best and most reliable information about value and marketability. The appraisal will provide information about value. Real estate professionals knowledgeable about property like the one the donor is considering giving should also be consulted, usually in concert with SJS staff. Finally, both St. John’s and the donor should agree on a tentative plan for liquidation, being careful to avoid a binding sales agreement but keeping in mind the interests of both the donor and the School.