John is a licensed real estate agent from Houston, Texas. His client, Roy, was an investor from New York, who owned a commercial lot in Houston, for close to a decade. Roy had developed and sold off most of the property, but was unwilling to hold onto the final remaining parcel. The taxes were high and he was looking to move out of the Texas market altogether, in order to explore new opportunities. Unfortunately, the offers that were coming in just didn’t tempt.
And that meant Roy was stuck: he wanted to move on, was anxious to do so, but economically speaking, Roy needed to realize a substantial financial gain from this property. That’s when Roy talked it over with John who right away thought of Kars4Kids Real Estate as a possible solution to his client’s dilemma.
In short order, Kars4Kids had it all sorted out, arranging for the transfer of the property, which included the correction of issues relating to the previous title and paying $10,000 in delinquent property taxes.
We did all this at no cost to the donor. Then we issued a tax receipt for the full, appraised value of the property. Which meant that Roy realized a tax savings of close to what he would have made from a discounted sale. And of course, at closing, we issued the broker his full 6% commission of $18,413. We think that’s only fair.