The Stroupe Condo Blog got a hold of a letter from Vulcan in which they told pre-sale buyers at Enso they will be reducing purchase prices and home owner dues on homes already under contract.
It makes a lot of sense. Obviously, committed buyers will be happy to hear the news, but the announcement was really targeted toward pre-sale buyers who were considering walking away from a losing investment. If Vulcan can convince the majority of the pre-sale buyers to close at Enso, they'll avoid converting another building with high-end finishes to apartments which means they'll come out ahead even with the price reductions.
See the full letter after the jump.
Greetings from the Enso team,
We would like to take a moment to provide you with an Enso update.
With Enso nearing completion, we are committed to working with you to make it possible to close and move into your new home. As a result, we will be offering all our Enso pre-sale buyers who purchased in 2007/08 and early 2009 a reduced purchase price on the home you already have in contract. We also will be reducing home owner assessments based on lower anticipated operating costs forecast in an updated budget.
Starting in mid-June, our sales team will contact you with more details about the reduction. Because we will be working closely with each of our pre-sale buyers, the closing time frame for your Enso home will take a bit longer than otherwise planned. Thank you for you patience during this process.
For planning purposes, we currently expect homeowner orientations to begin the first week of August, and anticipate first closings to begin late in August and continue through September. In advance of closing, you will receive a 30-day closing notice that will include your proposed homeowner orientation and close date as well as more detailed information on the closing and move-process.
Thank you again for your commitment to Enso and being part of the South Lake Union community. If you have any questions, please do not hesitate to contact our sales team at 206-264-4966.
Best Wishes,
The Enso team
