Common Questions

Do you work with all types of religious institutions?

We are here to represent churches, temples, synagogues, or any other religious property. Even if a religious institution has property associated with its organization we are equipped to sell land or any other type of property your religious group needs to sell or purchase.

Can you help us buy or sell land?

Yes! We have helped religious institutions buy or sell land associated with the organization and would be happy to discuss how we can help your organization.

Is church financing available?

Church financing is a very specialized form of commercial lending. Because it is so specialized, many financial institutions do not offer financing for churches. Fortunately, there are some good church lenders including a few commercial banks, credit unions, and other lending sources. For over 30 years Earle has assisted churches to find the right financing.

How large a down payment is usually needed?

Often, potential church buyers are surprised to learn that the down payment percentage needed to finance a church property is usually much higher than to buy residential property. Many times their surprise is quickly followed by disappointment because they don't have enough funds saved for the down payment required by the lender. One of the first steps in preparing to relocate is financial planning. Earle can help your church formulate its relocation plan.

What does it take to qualify for church financing?

Every lender is a little different, but in general a church borrower a) needs to be incorporated, b) have three years or more of financial statements, c) have a good down payment, and d) have sufficient income to make the loan payments. Earle can assist you in determining the amount you qualify for.

Are there benefits to being pre-qualified by a lender?

There are a number of benefits when a buyer is pre-qualified by a lender before viewing a property and writing a purchase offer. The pre-qualified buyer:

1.  is in a favorable negotiating position

2.  saves time and effort in viewing only properties they are qualified to buy

3. can prevent the embarrassment of being turned down for a loan

4.  avoids placing the sellers' financial security at risk (by needlessly taking the property off the market)

5.  can reduce the escrow time because the loan approval process is already in progress.

Buyers who are motivated will do what it takes to put themselves in the most favorable position to acquire a property. All else being equal, a seller will certainly take the offer of a pre-qualified buyer over one that has not been pre-qualified. Earle can assist in finding the right lender.

How is a realistic market value determined?

A key component in marketing a property is having a realistic asking price. Through special training and many years of experience, Earle can establish a realistic market value for church property. Using an extensive database of comparable church properties, along with construction costs and land values, plus public records, Earle prepares a lengthy report of his opinion of value. On average, Earle's opinion of value is within a very few percentage points of the actual sales price.

How long can it take to sell a church property?

There are many factors that influence the sale of a property -- such as location, price, and building condition. Over the past few years, Earle's experience has been that it takes an average of about five months to get a church property under contract and about three more months for escrow to close.