The housing market has taken a hit, so one local builder wants to make sure his workers do not.
If a homebuyer buys a Strauss Construction home, the company will buy the homebuyer's current home. The builder and buyer agree upon a purchase price for the current home. It must be less than the price of the new home. If the homebuyer does not sell the current home to someone else for more money for 90 days, Strauss buys that home for the agreed upon price. Strauss then places that home back on the market for the price the company paid.
The homebuyer can also choose an interest rate reduction for the first three years or to have Strauss pay the mortgage for the first six months.
If the homebuyer chooses the interest rate reduction, financing is through SunTrust. The fixed rate is 5 percent. Strauss will pay 3 percent the first year, 2 percent the second year and 1 percent the third year.
It's an effort to help homebuyers but also to help his employees through these economic times says Steve Strauss.
"They have helped me as a company to thrive and survive. This is a time I would help to look after them help pay them back.", says Strauss.
For more information call Curtis Burchett at MKB Realtors at (540)989-4555.
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