Real Estate Transactions for Non-Profits Can Be Daunting
The sale of a church building is not like other commercial transactions.
“Although we have to follow the same legal guidelines and regulations as any commercial property for office or industrial use, non-profits also have to have IRS approval. They have to have their 501(c)(3) documentation. The government requires many reports and more data necessary for the sale to be able to go through,” he said.
“There are so many requirements,” said, citing fire department and building and safety issues.