How complicated and how long will the charitable donation process take?
Donation processes varies from property to property. There are many factors that can affect this process such as civil liens to unpaid property taxes.
How will I know if BikersInc is willing to accept my charitable donation?
By obtaining all documents and information, BikersInc will be able to determine if property can be received as a charitable donation.
Who pays the expenses?
All expenses incurred during the process are generally accepted as the responsibility of the donor. There are some exceptions and under certain circumstances; an agreement is made to share the expense of the acquisition of your charitable donation. (I.e. Title insurance, property insurance, environmental testing, probate or other issues and costs)
What costs can I expect to incur during the donation process?
Generally, the donor is responsible for all of the regular costs associated with the property until the acquisition of the property by BikersInc. This may include, but not be limited to all taxes, bills and mortgages. There are of course exceptions to this. Every donation is considered on a case-by-case basis.
What if I am missing important documentation?
Because closing the transaction usually takes place through a title company or another agent for the donor, such as an attorney, a title search will be performed so that all the necessary paperwork will be procured in order to proceed with the acquisition of the donation.
At what point will my responsibility to the Real Property end?
The donor's responsibility stops at the end of the acquisition process.
Do I need to be present at the time of the closing?
No. At the time of the closing, all necessary paperwork will have been completed. The actual closing itself is simply a paper transaction that occurs once all legal requirements for the transfer of your donation have been completed. If there are any additional issues that arise, usually in regards to the title search, all parties involved will be notified. If this happens, it's a simple matter of signing additional documents and the issues can be resolved before the closing.