400 Farmers Way, Madison, MS


  Status LEASED FEBRUARY 2007 (ending 08/31/2009)…
Purchase Optional Gross Sales Price: $189,999
Down Payment: $1,899
Net Balloon Payment: $188,100 (Optional Until Lease End)
  Rates Interest: $1,650/ Month
Tax: $150/ Month
Insurance: $59/ Month
Association: $10/ Month
  Location Street: 400 Farmers Way
City: Madison
ZIP: 39110
County: Madison
Private Community: Red Oak Plantation
Area Code Dialing Prefix: 601
  Membership Association:
Covenants: Property values are protected by very strict regulations. Architectural reviews are completed by a professional committee of elected officials.
Swim: The new pool and clubhouse is within walking distance of the residence.
Tennis: No courts at this time
Marine:
Landscape: The community consists of professionally landscaped green areas.
  Construction Year:
Builder:
Foundation: Reinforced Concrete Slab
Frame: Wood
  Interior Area:
Climate Controlled Portion: Living, Dining, Kitchen, Laundry, Corridor, Master Bedroom, Second
Bedroom, Third Bedroom,
Auxillary Portion: Double Garage, Closed Storage
Floors: Wall to Wall Carpet, Scored & Stained Concrete
Walls: Stud (2x4 inch), Painted Gypsum (5/8 inch), Painted Pine Trim, Ceramic Tile Splashes
Ceilings: Painted Gypsum at 8 to 10 Feet above finished floor
  Exterior Walls: Brick, Mortar, Painted Wood
Trim: Treated Pine
Windows:
Living Access: (1) Solid Wood (Front Entry), (3) Aluminum (Rear Entry, Garage Entry)
Garage Access: Automated Double Garage Door (Aluminum)
Roof: Sloped (10/12 pitch), Asphalt Shingles
  Site Drive: Concrete Slab (Gravel Wash Finish)
Fence: A privacy fence exists at the front, rear, and both sides of the property.
Landscape: Bermuda Grass (360 Degrees), Flower Beds (360 degrees)
Frontage:
  Schools Public: Madison Madison Station Elementary (601)856-6246, Madison Middle (601)605-4171, Madison Central High (601)856-7121
Private: Canton Academy (601)859-5231, Madison Ridgeland Academy (601)856-4455, Saint Andrews Episcopal School (601)853-6000, Saint Joseph Catholic School (601)898-4800, Tri-County Academy (601)879-8517
  Utilities Cable:
Electricity: Entergy (800)368-3749
Gas: Centerpoint Energy (601)856-5969
Waste Collection/ Recycling: Red River Service Corporation (601)879-0072
Water/ Sewer: Bear Creek Water (601)856-5969
  MOST RECENT APPRAISAL
Value: This property has no recent appraisal. Please refer to the Comparative Market Analysis (CMA).
Date: This property has no recent appraisal. Please refer to the Comparative Market Analysis (CMA).
Firm: This property has no recent appraisal. Please refer to the Comparative Market Analysis (CMA).



  NONREFUNDABLES
Balloon: You MAY pay this amount in order to exercise your option to purchase and dissolve the lease. Though you're entitled to the exclusive option to purchase, this payment is not a requirement. A lease purchase requires that the tenant pursue the purchase. A lease purchase is when you sign a purchase agreement. Because most of our homes are new, you may have already realized that we aren't in the business of renting vacancies. It is even more important that you understand we're also not in the lease purchase business. We only deal in purchase options. We are hired essentially to provide the customer with an opportunity. There is no obligation. This amount is negotiable.
Interest: You MUST pay this amount every month as rent in order to legally occupy the residence during the lease. This amount is fixed and will not increase or decrease during the lease. This amount is due on the first day of every month until you either exercise your option to purchase or the lease has ended.
Tax: You MUST pay this amount when you pay interest. We do not determine this variable amount. We're responsible for the payment of property taxes, and the net lease requires that you reimburse the owner.
Insurance: You MUST pay this amount when you pay interest. We do not determine this variable amount. We're responsible for the payment of premiums to the hazard insurance company, and the net lease requires that you reimburse the owner.
Association: You MUST pay this amount when you pay interest. As a member of the property owner's association, you and your neighbors determine this variable amount. We're responsible for the payment of dues to the property owner's association, and the net lease requires that you reimburse the owner.
Late: You MUST pay this amount if any amount in the lease is past due the grace period. The fee is charged per each occurrence and is charged every time an individual amount in the lease is past due the grace period.
Worthless: You MUST pay this amount if any payment is deemed counterfeit or worthless. The fee is charged per each occurrence and every time any payment is received that is deemed counterfeit or worthless.