The Church purchased the Mission Home (which they had been renting for the past 2 years) today after much negociating and issues being resolved. When the Church purchases real estate it goes through many committees and approvals. This was on, then off, then on again. Even the Ministry of Religion in Poland had to give their approval for a religious organization to purchase property. It all came together (after all parties were giving up), and we met this morning.
President Nielson with the 'sellers', Mr. and Mrs. Otulak. These are very nice people and through this we have become good friends. This is an honest and honorable man, who at times struggled with the policies of the Church in purchasing property. Polish law is different and somewhat complicated.
The attorney representing the Church, Mr. Dabrowski, and Stan's translator, Ms. Kowalczyk. This was a most interesting meeting. Everything had to be translated, explained and then retranslated.
And then the signing took place..............
The funds were wired from Salt Lake City last week to Germany. Monday, Frankfurt wired funds to the escrow agent; and then the fun really begins. Dollars converted at today's exchange rate, paid off the first mortgage debt in Swiss Francs, the second mortgage debt was satisfied in Polish Zwolty, Polish taxes and fees calculated and----we have a deal! Polish law requires that within 3 years an appraisal will be done on this property and if the price was higher or lower than prevailing rates, taxes will be adjusted. A 2 % National Real Estate tax is collected on all real estate transactions.
The Church purchased the Mission Home (which they had been renting for the past 2 years) today after much negociating and issues being resolved. When the Church purchases real estate it goes through many committees and approvals. This was on, then off, then on again. Even the Ministry of Religion in Poland had to give their approval for a religious organization to purchase property. It all came together (after all parties were giving up), and we met this morning.
President Nielson with the 'sellers', Mr. and Mrs. Otulak. These are very nice people and through this we have become good friends. This is an honest and honorable man, who at times struggled with the policies of the Church in purchasing property. Polish law is different and somewhat complicated.
The attorney representing the Church, Mr. Dabrowski, and Stan's translator, Ms. Kowalczyk. This was a most interesting meeting. Everything had to be translated, explained and then retranslated.
And then the signing took place..............
The funds were wired from Salt Lake City last week to Germany. Monday, Frankfurt wired funds to the escrow agent; and then the fun really begins. Dollars converted at today's exchange rate, paid off the first mortgage debt in Swiss Francs, the second mortgage debt was satisfied in Polish Zwolty, Polish taxes and fees calculated and----we have a deal! Polish law requires that within 3 years an appraisal will be done on this property and if the price was higher or lower than prevailing rates, taxes will be adjusted. A 2 % National Real Estate tax is collected on all real estate transactions.
Congratulations on completing a complicated transaction in different languages, monetary funds and laws!!! Your requested item will be on it's way soon!!
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