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Terrazzo in the Nashville Gulch to Auction 30 high-end condo units.

UPDATED 11/8/09:  Terrazzo condo development in the Nashville Gulch has announced plans to auction off 30 31 of their total 117 units next month in a reserve-style called auction. Opening bid (reserve) pricing from 159k to 399k. Homes are between 888 to 2050 sqare feet representing one bed, one-plus, two and three bedroom plans. The average historical listing prices of these same units have been between 300k and 721k representing a 38% to 54% discount.

 

TERMS:

No Buyer’s Premium

Each unit offers one deeded parking space at least one deeded parking space. Two & three bedroom plans now offer 2 deeded spaces.

5% down-payment is required on auction day ($5,000 in the form of a cashier’s check, the remiander by personal check).

Winning bidder has 30 days to formally close on unit.

Mortgages are available through the preferred lender. Qualified buyers could choose a Fannie Mae loan product with as little at 10% down plus standard closing costs. UPDATE: some preferred lenders now offering a special 3%-down program for qualified First-Time Buyers.

Financing contengencies available to some pre-qualified buyers.

Homeowner association dues for Terrazzo are .36 cents per heated square foot.

Amenities include pool, gym, secure parking, concierge and 24 hour security.

20 of the 30 units may be purchased by investors. Multiple units may be secured by investment.

Our offices are located adjacent to the Terrazzo property. Call 615.554.3745 to schedule your private tour.

Viewing hours Monday-Saturday 11-6, Sunday 12-5

UPDATE: Developers now off up to $10,000 in incetives to winning bidders. Can be used toward closing costs or HOA pre-payment.

Feel free to learn more by registering online at www.TerrazzoNashville.com. Developers are HAPPY to work with agents (at no additional charge to you). The only catch is that I must accompany you on your first tour during the preview period. Previews are available from now until November 20th (M-Sat 11-6, Sun 12-5). Of course, my office is located right next to the Terrazzo in the Gulch so setting an appointment should no trouble.

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Happy bidding!