Back to back close question

[John Pace]

Here’s what I want to do. I have a property (rough numbers). Bought for 100. Invested 20. I want to recoup my costs and donate the profits to a charity. So I have a buyer for 150. I want to “sell” to the charity for 120 so I get my costs back, then the charity will sell to the buyer and pocket the 30k. I know the tax info. This is called a “discount sell” and is above board. However, my question is the mechanics of the deal. If the charity signs the sales agreement, the buyers lender and title insurer will flag it because they don’t own it. If I enter the sales agreement, then again questions will arise. How do you guys do double closes with a retail buyer/lender.