Cousins Properties, an Atlanta-based developer, have seen enough and are trying to make it a no brainier to move into one of their condominium towers. With the state of the economy and the possibility of their units sitting empty, the 51-year old development company decided to step outside of the box when it came to a new buyer incentive program for their 10 Terminus Place project.

Special financing has been set up at the 32-story condo tower in Atlanta’s upscale Buckhead district where the asking price for units ranges from $335,000 to more than $3 million. Cousins Properties, which owns the development, is providing the financing itself – a 3 year fixed loan at only 4% annual interest. During the 3 years, the buyer can choose to hand back the keys and walk away from the unit without any penalties or damage to their credit. If this does happen, the unit will be owned by Cousins Properties once again.

In order to qualify for this amazing program a borrower must make a down payment of 5% of the purchase price and then make an additional 2.5% payment in the second and third years. This was developed to help buyers get past the difficulty of coming up with the usual 20% down payments that is generally required for most jumbo mortgages.

If the borrower chooses to put a 20% down payment, they can choose to skip any monthly payments for up to one full year. This option was implemented to provide an ample cushion to sell their current home as properties are staying on the market much longer in these down times.

A final stipulation to the program is that the borrower must refinance with another lender after the 3 years or turn the condo back over to Cousins.