Preservation Sales
Maine Preservation is your partner in selling your historic property.
Our Protect & Sell Program works with sellers of historic properties who want to safeguard their property’s future to secure preservation-minded buyers committed to maintaining and (if necessary) rehabilitating historic buildings. We’re a unique resource to owners of challenging properties in particular, as our focus is on preservation and rehabilitation, diamonds in the rough are our specialty. We partner with homeowners, commercial property owners, land and conservation trusts, environmental and agricultural organizations, historical societies, and municipalities to ensure the long term safeguarding of historic buildings.
The Benefits
Distinguishing itself from the traditional real estate market, the Protect & Sell Program provides access to a niche market of buyers across the country who are seeking to buy and rehabilitate historic properties. These buyers are attracted to the rich and unique quality of place afforded by historic properties in Maine. The buyers and sellers we bring together view our engagement and the use of a preservation easement as a seal of authenticity, and view our ongoing partnership role and technical assistance a distinct benefit of participating in the program. We take on the future responsibility to provide ongoing technical assistance and property stewardship – and even legal defense if necessary.
We also can provide expert technical assistance on often complex rehabilitation projects to help ensure economically practical, long-lasting outcomes. Our years of experience help us clearly answer prospective buyers’ questions and resolve any uncertainties. This expertise is extremely valuable in selling houses needing substantial rehabilitation.
How we do it
In partnership with you, we facilitate the marketing, sale, and the protection of your special place. We act as your liaison to the real estate marketplace, providing you with a turnkey sales experience. We'll develop with you the protective preservation easement and an option to purchase and determine the listing price in consultation with a local real estate professional. We typically engage a local real estate agent to assist with showings, and we manage the property marketing process on your behalf, connect with all interested buyers to outline the history of the property and explan how the protective preservation easement works, and the rehabilitation requirements (if any). We're your partner throughout the entire transaction, including closing. Upon the sale of a program property, a preservation easement is recorded with the deed and the buyer commits to any required rehabilitation in a separate legal agreement.
Maine Preservation Easement Portfolio
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Approved properties can be offered for sale at market price, or the owner may choose to generate charitable donation tax benefits by donating the property or offering it to us at a discounted price. A charitable contribution given at the time of sale funds our engagement in the sale and the easement monitoring and protection in perpetuity.
Program Cost
The Protect & Sell Program is supported by charitable easement stewardship contributions. The easement stewardship contribution covers the development, documentation, and recording of the easement, perpetual annual easement monitoring, rehabilitation oversight, and a legal defense fund in the event Maine Preservation must defend the easement in court. For properties in our sales program, the contribution also covers our legal fees for the option-to-purchase agreement (see below) and if rehabilitation is contemplated, the cost of the rehabilitation agreement, post-sale review of the rehabilitation plans, and construction monitoring. The amount of the stewardship contribution is typically $25,000 but each situation is singular and the actual amount is based on a number of factors and is customized for the property.
For properties that we sell, Maine Preservation typically develops an option-to-purchase agreement with you for an agreed-on price. That option is exercised at the time of closing with a new purchaser. The sale price in our option-to-purchase agreement with you can be market rate, or you may choose to generate charitable donation tax benefit by offering it to us at a discounted price or donating the property - you decide based on your needs. Maine Preservation secures an easement stewardship contribution from the sale proceeds, or you can make an outright donation to cover the cost of easement protection.
For some endangered properties that meet certain qualifications, Maine Preservation can apply for supplemental support through the Historic Preservation Revolving Loan Fund administered by Maine Historic Preservation Commission. These funds are limited, but can subsidize the easement stewardship contribution and other transaction and protection costs for qualifying properties.
Contact us to learn more about how Maine Preservation can help you transition and protect your special place.