Make a gift to IU through a bargain purchase

• Let your IU development officer know that you’re considering a gift of real estate. Our team can guide you through some considerations and help you choose the best option for your situation and goals.
• When you’re ready to take the next steps with a bargain purchase, we will help you secure a qualified appraisal for your property, a cost for which you will be responsible.
• We will agree to a bargain purchase amount based on the appraised value of the property and the amount of the gift you want to make.
• Similar to the typical process for selling your home, we will schedule a closing, and IU Foundation will cover the costs. You will receive an agreed-upon amount of cash at closing and may claim a tax deduction for the difference.
• After transferring the home to the IU Foundation, we will provide you with the necessary tax documentation and bargain sale letter for your tax preparer.
• If your gift also includes personal property, we will thoughtfully steward those belongings according to your wishes — to be curated for an IU collection, donated to an area nonprofit, monetized and added to the proceeds of the sale of your house, disposed of confidentially, or transported or shipped to loved ones.
• The IU Foundation will ready the property to be sold.
• The net proceeds will be used to fund the cause you’ve designated.