Hi BP,I have a friend of mine bought a land through tax foreclosure auction...he bought it without doing any due diligence ahead of time, anyways he found out its a very small lot and worth nothing if he is trying to sell.The appraisal value is $12k and he paid a bit less but no body would buy such lot on the market...somebody told him to donate the land to the city or the county or some sort of organization that helps people and file it on his tax return as deduction. my questions are: 1- Any suggestions who to target to donate the land 2- If he donated the land can he file it as a loss or deduct it from his tax refund at the end of the year...he is entitled to pay some capital gain taxes on other properties he sold so this deduction will definitely help.3- If point 2 is doable will he be able to file based on the appraisal value $12k?

Instead, he shops it around to fellow agents and brokers who might be looking for that specific type of property or area.

I suggest shopping around.

Im currently shopping for toilets to install in my rental.

I’d just shop around lenders.

And be sure to check with folks other than your family banker (where you carry all your accounts) - you'd be surprised how much price / term shopping can save you on each deal.Best of luck to you and your family and I look forward to following your journey!

@Rhonda Wilson ok i totally understand but like i explained to him, i wouldnt be taking his technically off the market bc he still was shopping around for offers.

This is my first real estate property, but it's older and the loan amount is small (less than $200k), so the banks and credit unions I shopped around at are asking for higher interest rates.

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To me, I have a better understanding of the conventional loan route, there being prequalifications before shopping for properties.