Tag Archives: first right of refusal

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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Cell Towers at Churches

Cell Tower’s at Churches

Are Cell Towers and churches a good fit? This article does not focus on the negotiations involved with leasing your property for cell towers at your church; which can be challenging. Rather, the intent of this article is to provide a resource for churches to use when considering whether or not to permit a cell tower at their location; in no particular order. Risk vs. Reward: If you’re like most churches, your primary concern is in the amount of monthly income you will receive in rent. In short, is the […]

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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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