Church's real-estate purchase policy

[snbrking]

I would like to do research on the church and how they acquire real-estate. I have heard that the church will pay fair-value for real-estate, even if they could acquire it at a lower price. I can not find any information to verify what I have heard. If anyone can help me find information on this I would appreciate it. Thank you.

[miztrniceguy]

call salt lake hq and ask to speak to someone in the real estate aquisition dept.

[Moksha]

Are you looking to unload some acreage?

[Dravin]

My first thought was that they probably use money.

[john doe]

What do you define as fair value? No one is held at gunpoint until they agree with the church's offer, if that's what you're asking.

[BenRaines]

I think fair value is determined by what a willing buyer will pay a willing seller. Is there any other way to determine value of a transaction?

Ben Raines

[Guest]

Yeah, that fair value thing confused me. I translated that statement to mean - the church will not cheat you on the transaction.

They won't pay somebody 5 million dollars for a tract of land if the asking price is 3 million, ya know? And if the asking price is 5 million and the church only has 3 million to spare, they won't go into debt for the land, so they would just not buy it unless the seller decides to lower the price to 3 million.

[NeuroTypical]

I have heard that the church will pay fair-value for real-estate, even if they could acquire it at a lower price.

I think Ben nailed it. "fair value" is an oft-discussed and argued about term. "Fair value" is what someone wants to sell for, and what someone wants to buy for - as long as there is no undue/illegal pressure on either party.

LM

[Traveler]

I would like to do research on the church and how they acquire real-estate. I have heard that the church will pay fair-value for real-estate, even if they could acquire it at a lower price. I can not find any information to verify what I have heard. If anyone can help me find information on this I would appreciate it. Thank you.

There are many stories about the church acquiring property. When I entered into the Northwestern State Mission in the 60’s our mission home was a former mansion in Portland. The church had approached the owner and asked to by the property at the price the owner was asking. But when the owner found out that it was the “Mormons” that wanted to buy the property he refused to sell – at any price.

A few months later the owner died without selling his property and the Church later acquired the property (within a year) for a small fraction of the previous asking price at an auction to pay off back taxes.

Here is a link about the manner in which the church acquired many historic properties.

Preserving the past: Wilford C. Wood pursued purchase of LDS Church history sites | Deseret News

The Traveler

[falisrm]

The church is always looking for deals when it aquires property. Sometimes it even asks for members to donate land for space for meetinghouses. However, when it needs to build something it would go through great lengths and money to aquire the right real estate. Take the conference building. The land alone was like $35 million. the church has around $25 million in buildings in my county in washington state. Their accounting practices keep their real estate at face value. That means they keep the value of the property and building at the same value from the moment they build the church. Even when the market increases it's value the church keeps it at that origional price.

[Moksha]

Are you looking to unload some acreage?

That depends Moksha. Are you interested in buying a few city blocks? Not Salt Lake City of course, but perhaps Manitou Bend, Canada?

[Guest ShirlMarge]

Are you looking for your own property to buy or just want on rent? If you want to do a long term business there then i suggest you don't purchase the property just start your business on rent and then move on accordingly.

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