STANWOOD, Mich. -- For anyone dreaming of owning a home at one of the country's top golf destinations but is stuck with a house you cannot sell, the owners of the Resorts of Tullymore & St. Ives have just the deal for you.
If you commit to buying a house or condominium at Tullymore, the resort will buy your home off your hands for its appraised value.
"It's a simple as it sounds, you buy our house and we will buy your house," said Terry Schieber, Tullymore's chief executive officer. "If you can't sell your home, move to Tullymore."
The concept is similar to automotive trades where used cars are traded in for new models, and the value of the used car is applied as a down payment for the purchase.
Schieber said that while he would prefer to see buyers trading up to a home of more value at Tullymore, those with homes valued higher than the one they chose at Tullymore are not ruled out of making a deal.
"For example if someone paid $500,000 for a house at Tullymore and their house is worth $600,000 we will buy your home and you get to keep the $100,000 difference," he said.
While the concept of trading in a home is revolutionary for real estate transactions, Tullymore is able to pull it off because the resort owns all their properties free and clear of debt or mortgages, Schieber said.
In the past three years the developers of Tullymore have invested more than $50 million in the resort anchored by two award-winning golf courses. A dramatic $7 million clubhouse, designed by Archiventure of Denver Co., was nationally recognized as one of the country's best when it opened two years ago.
In addition to a wide inventory of houses and condominiums for sale, Tullymore also offers fractional ownership in four luxurious villas that make up the Residence Club. The club is part of the Registry Collection of exclusive vacation properties around the world. Owners of Tullymore units have access to this global network of the finest vacation properties and services.
The Tullymore golf course was designed by top architect, Jim Engh, of Colorado. It has won numerous national awards and is ranked15th among U.S. public resort courses by Golf Digest magazine. The older St. Ives course, designed by veteran architect Jerry Matthews of Lansing, has also won an impressive number of awards.
Last year a panel of readers of Golf World magazine selected Tullymore as Michigan's best golf resort.
Resorts of Tullymore & St. Ives