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QUESTION : How long does it take to sell a church?
From our experience it takes an average of 8 months to 1 year
to sell a church property. Unlike residential property, churches
move slower due to the number of people involved in the decision
making process. Other factors that influence the church market
are price, building condition, location, seating, and parking.
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QUESTION : How do churches get financed?
Church financing has changed considerably in the last 15 years.
Religious institutions were considered "high risk" in the mid
1980's,
however, commercial lenders now seek church business. We have worked
with many banks, mortgage brokers, and bond companies to help churches
reach their vision. A list of lenders is available upon request.
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QUESTION : What does it take for a church to qualify
for financing?
All lenders have different criteria and programs, however most require
a church to be established for at least 3-5 years along with financials,
the Texas State 501C-tax exemption status and at least 20%-30% of the
Sales Price for a down payment (churches are considered commercial
properties and require a larger down payment than residential properties).
International Church Realty is not a lender and in no way represents that
any group or person may actually qualify for a loan based on this criteria.
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QUESTION : What is the market value of your church?
Many factors affect the price of a church building: location, age,
parking, seating, supply and demand, etc. Through many years of experience
working exclusively with church properties, we can offer an "opinion of
value"
on what we think the current market value would be if it were put on the
market
for sale today
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