One often forgotten step in the consideration of the sale of a property is the values of the organization. One church may prefer to sell their property for top dollar and donate some proceeds, while another may decide to give a new church a discounted opportunity. It is important to analyze and discuss the values of your church organization with your listing agent before listing the property for sale.
Deciding on the technique to use for the sale of your church property involves analyzing both the values and Highest & Best Use of the church.
Below is a compiled list of a few possible designation options when selling:
As with any piece of real estate, there is an evaluation stage to find the property's "Highest & Best Use". This term is used to describe the usage of the property in which the parcel is worth the most money. Factors including the zoning, Official Community Plan (OCP), and Neighbourhood Concept Plan (NCP) designations all influence the Highest & Best Use of the property. This analysis is important to perform for both marketing and sales purposes.
Note: Even when the Highest & Best Use of a property has been identified, each buyer still has a different intended use for the property.
- Co-op residential buildings with lower rents for individuals in need
- Addiction recovery facility
- Poverty shelter
- Park or wildlife sanctuary/preservation
- Non-profit organization