Newspapers / Daily Tar Heel (Chapel … / July 20, 1989, edition 1 / Page 33
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The Tar HeelThursday, July 20, 198933 EMD OF 1 COOTOMMIUM D MMA - H 1 L i i 7. 5. FINANCING AND A BUY-BACK GUARANT If high interest rates and a tough resale market care preventing you from purchasing a condominium, then Grubb Properties has a special opportunity for you. With financing at 7.5 interest for the first year, 8.5 for the second year, and 9.5 for the third and fourth years, owning a home has never been more affordable. You only need a 5 down payment and Grubb Properties will pay all closing costs. Also, you may elect to resell your condominium back to Grubb Properties for the onginal purchase price during the fifth year. With the affordable financing opportunity, a buy-back guarantee, and low purchase prices, owning a condominium has never been easier. THE OAKS Starting from 65,900 OLD WELL Starting From 29,900 Cash Prices Start from $6o,658 Luxury living adjacent to Chapel Hill Country Club golf course off Hwy 54. Perfect for UNC professors, or graduate students. Located 12 mile from UNC Campus. Burning Tree Drive, Chapel Hill. Mon.-Fri. 967-2230. 7.5 financing applies to 3bd. units only. Special financing available for two bedroom units. Affordable value within minutes of UNC campus, just off Hyw 54 in Carrboro. Perfect for students or investors. Two and three bedrooms. 501 Jones Ferry Road, Carrboro. Of fice located at 305 The Oaks. Mon.-Fri. 967-2230 GRUBB PROPERTIES Certain restrictions apply concerning condominiums with the renovation package. Typical Financing. Down Payment 5 of purchase price. Amortization 30 years. 1st mortgage 80 of purchase price 7.5 interest for the first year, 8.5 interest for the second year and 9.5 interest for the third and fourth years, interest and payment adjust annually after fourth year. Max. 14.25. 2nd mortgage 15 of purchase price interest rates identical to first mortgage for first four years, 9.5 for fifth year. Balloon with refinancing option. Annual percentage rate 9.9 BROKERS WELCOME
Daily Tar Heel (Chapel Hill, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
July 20, 1989, edition 1
33
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