Located adjacent to the scenic Chichaqua Valley Bike/Nature Trail, Baxter's newest residential area, Westfield Horizons, is truly a community showcase. With construction incentives offered by Baxter Economic Development Corporation and a variety of lot sizes available, there's no better time to build!
For more information on Baxter properties for sale, visit www.buybaxter.com or www.newtoniowarealty.com.
BEDCO Lot Marketing Proposal (10/6/2008)
This proposal is intended to provide an added motivation to secure the sale of lots now owned by BEDCO. All realtors currently operating in the community would be advised of the availability of this type of sales incentive.
The terms are as follows: Lot would be offered with 10% down and a subordinated mortgage for the balance which would be forgiven at the rate of 20% per year. After 5 years the purchaser would own the lot free and clear. Any purchaser would have to start construction in compliance with the covenants of record.
Contractors purchasing a lot to build a spec house would pay 10% down when BEDCO accepts the offer and would be responsible to collect that 10% from their purchaser. They could participate by advising buyers that the same terms apply to the purchaser of any spec house and the 5 year forgiveness starts upon closing of the sale of the house to the new owner.
Example: Lot sells for $22,000. Purchaser pays 10% down. $2200 would be used to cover the sales expense. If the purchaser builds a home and owns the property for 1 year and decides to sell, they would owe 80% of the balance. If the purchaser owns for 2 years and sells they would owe 60% of the balance. If they own the home for 3 years and sell, they would owe 40%. If the purchaser owned for 4 years and decided to sell they would owe 20%.If they own the lot for 5 years they would owe nothing on the lot.