To complete a gift of equity, the home's seller must get an official appraisal. Wherever your state enters info for seller concessions (ie seller paid closing costs), you should be able to enter your gift of equity info.Or in connection with a City of Oakland purchase contract. Unlike sealed bidding, the competitive proposal method permits consideration of technical factors other than price; discussion with offerors concerning offers. A gift of equity is the sale of a residence to a family member or someone with whom the seller has a close relationship. The Combined Contract Schedules will be collected from the successful proposer before a final decision is made and up to full contract execution.