Originally posted by wellingtontx
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What’s your opinion on this….
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On its surface to me it seems a little unethical. I don't know anything about this kind of thing. I don't know how much benefit this would be to the seller. Also, I don't know whether this is legitimate or legal transaction.
For me, I would need to know a lot more before I could give an opinion. I'm not sure I would have a problem with it if the IRS and real estate laws allowed it. I would hope the Church would know that this is on the up and up before they made this kind of an offer. I know my church wouldn't make such an offer if it wasn't ethical and legal to do so.
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The original scenario in post #1 is certainly stated in a way that makes the transaction seem shady. Oftentimes such a 'scenario' is the end result of what has been passed along from one to another to another so that the real situation is lost.
From personal experience, I can explain how such a transaction can actually take place regardless how those on the outside may end up putting together their version after hearing a portion of the facts.
My church was interested in a parcel for a new multi-site. There were approx. 12 acres (a 10 acre tract and a 2 acre tract). The price was higher than we felt we could pay. Our real estate expert (a former Elder at our church) met with and got to know some things about the owners. From that meeting, we discovered the owner was selling another piece of property elsewhere and would have to realize a large gain. We worked out a deal to pay less than the owner wanted for all 12 acres for the 10 acre tract and, after he checked out our church (beliefs, ministries, etc.) and after he got an appraisal for the 2 acre tract, he would donate that tract to us.
In the end, we got the entire 12-acre parcel for what we thought we could pay. He netted the same benefit from selling part to us and donating the rest to go against the large gain he had to realize.
Nothing was done in an underhanded way; nothing hidden from anyone; each party benefitted.
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