When Bluewater Assets Group purchased the remaining 39 unsold units at Grand Bend at Green Bay in Evanston it slashed prices and arranged new financing options for buyers.
Large one-bedrooms are now priced from the $170s and two-bedrooms from the $250s. The price reductions have resulted in 14 sales and, while continuing to sell, Grand Bend is offering a contract for deed program, more commonly referred to as a "rent to own" program.
The contract for deed program addresses the buyer who needs time to accumulate a down payment and line up financing. Under the program buyers have the option to purchase at the market price at the end of their lease term, with 25% of their rent being credited to the purchase price or down payment.
Bluewater managing partner Robert Matthews outlines the program in this sponsored video.