News from our Real Estate Broker
06.26.2015Our property continues to garner interest from the market and we have several offers and likely offers on the table. These offers represent a variety of buyers including churches, tear-downs, and adaptive re-use. We now have title but are still awaiting the survey results - several developer offers are contingent on that. Ideally we will review these offers during the first few weeks of July. This will include some time for continued congregational input. Please stay tuned for congregational meeting announcements!
06.05.2015
Things continue to move quickly with the building sale process. We officially listed our property on the MLS and other public listing forums on Friday. We continue to show the property and have strong indications of interest from several parties. Stay tuned for further updates and be on the look out for invitations to congregational conversations on the subject.
05.28.2015
The Church Sale Working Group met on May 21 with Annie Coleman, our broker from Living Room Realty, to discuss status of the church sale process. Annie communicated that she has had photos taken of the property, is continuing to gather the appropriate information to develop the prospectus, and has already had a number of showings with a range of different types of buyers, including churches, a creatively focused developer who has some focus on affordable housing, and several other developers. At this point, we have a letter of intent from one church, as well as some strong interest indicated by at least one developer. Annie will be continuing communications with those 2 parties (with the potential of offers coming forward), as well as continuing showings, and getting documentation ready for the “formal” listing process, which is tentatively scheduled to start June 1.
05.18.2015
Annie Coleman, our broker through LivingRoom Realty, came to our worship service this past weekend to meet with members and answer questions about the sale of our building. We learned that she and the Council have set a listing price, which will be published when the building is officially listed at the beginning of June. Over the last week she's begun work on the prospectus, including having new photographs of the building taken. Our attorney is now actively pursuing the title and a survey for the building. We estimate a church leave-taking by mid-September, though that could be later depending on the buyer (it is not likely to be sooner).
05.13.2015
Annie Coleman of LivingRoom Realty, the broker we have engaged to represent the congregation in the sale of the property, attended the May 13 council meeting. Annie presented the Council with a timeline for the sale, including a target listing date of June 1, a choice of a buyer by mid-July, and a closing at the end of August. Annie updated the council regarding her progress on drafting a prospectus to provide to potential buyers once the property is listed. Annie has also already shown the property to several potential buyers over the past few days. These pre-listing showings will help us gauge the market for the property, and allow Annie to focus on the potential buyers she finds particularly promising. Annie will report to the Real Estate Committee regarding these showings this week, and she and her associates will be meeting with either the Council or the Real Estate Committee on a weekly basis throughout this process.