Tag Archives: Developer

What is a Letter of Intent?

Looking to sell your property? Whether or not your property is on the open market, your church may receive a Letter of Intent from a prospective buyer. Simply put, a Letter of Intent is nothing more than one party putting into writing their intent to perform a specific act. In the real estate world, this usually means that a potential buyer has provided you with the basic terms in which they intend to purchase your property. But should you sign it? Nearly every single Letter of Intent we have seen has […]

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First Right of Refusal

First Right of Refusal; those magic words: On occasion, during the negotiation process with a tenant in church owned property, the tenant may request that the agreement contain those four magic words, First Right of Refusal. On its face, the words appear harmless enough; if the property owner decides to sell the real property, the tenant will be the first in line to be the buyer. However, what those magic words don’t tell is the price the property is to be purchased at, or how it is to be calculated. […]

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