Question about Purchasing a Church???

[Kevin Wiltz]

I'm not sure if this is the place to ask this question, but if not please move to where it should be.

My Mother-In-Law is a Pastor of a small church here in Texas.  The Church is currently renting a building that is somewhat run down.  They are currently raising money to purchase land and build a new Church that they will own.

In the meantime, the Landlord at the current location wants to sell the property where the current church is.  he is giving my Mother-In-Law first dibs at buying the church and land.  he threw out a crazy number of $125K with $25K down and $900 a month which is the current monthly rent.  This is a crazy price that the numbers don't add up too.  I personally think that he's trying to just get over on her and is just throwing stuff out to just get some cash quick.  he is a horrible landlord and doesn't want to pay for anything.  the building has all kinds of issues including plumbing and possible termites.

So the last time we talked to him, he said just give me a number and I'll consider it.  Now, I'm not to familiar with how to price a church as compared to a home?  do I still look at comps and if so, how do I find comps for small churches.  The appraised value per last years tax records was like $50K.  It actually sits on two lots.  but I still don't think it's worth more that $15-$20K, but I don't have anything to back that up.

***My question is where do I start with trying to find a good price to throw at him so that we can purchase the property so my Mother-In-Law won't lose their current church location while the new church is being built????

Any Info will be of great help.

Thanks BP for all that you do.