- Assignable Purchase Contract -
1508 South Lukas Lane, Saratoga Springs, UT 84045
Suggested Offer Price: $800,000
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HIGHLIGHTS
Property Information
BEDROOMS
4
BATHROOMS
2.5
ACREAGE
.24
TYPE
Single Family
Attachments
MLS Print
DETAILS
Property Features
Built in 2022, modern 2-story design
Fully landscaped yard with mature trees
Storage shed included
0.24-acre lot with curb & gutter
3-car garage with built-in storage
Daylight, walk-out basement
4 bedrooms, 3 bathrooms
Spacious open floor plan
Master suite with walk-in closet
Dedicated den/office space
Updated kitchen with built-in dishwasher & disposal
Bright, light-filled living spaces
Central air & high-efficiency gas furnace (95%+)
Durable flooring: carpet, laminate & tile
Energy-efficient windows with coverings
Connected to culinary water, sewer, gas & power
HOA just $20/month
No short-term rentals permitted
HIGHLIGHTS
Property Summary
Welcome to this stunning 4-bedroom, 3-bathroom home in the sought-after Saratoga Hills community. Built in 2022, this modern 2-story offers over 3,400 sq ft of thoughtfully designed living space with breathtaking views of Utah Lake, the surrounding mountains, and the Saratoga Springs Temple.
Inside, the open-concept layout creates a bright and inviting atmosphere, ideal for both everyday living and entertaining. A spacious master suite and generous walk-in closets provide comfort and functionality, while a versatile den/office adds flexibility for work or hobbies.
The daylight walk-out basement offers endless possibilities for future living space or recreation, and the 3-car garage includes built-in storage to keep everything organized. Outdoors, the fully landscaped yard features mature trees, a manicured lawn, and a handy storage shed—ready to enjoy from day one.
Nestled in the desirable Saratoga Hills community, this home offers a perfect blend of tranquility and convenience. Residents enjoy peaceful surroundings, beautifully kept streets, and easy access to nearby schools, shopping, dining, and outdoor recreation along Utah Lake.
Whether you’re a growing family, a professional seeking space to work from home, or an investor looking for a modern property with long-term value, this Saratoga Springs residence delivers the comfort, lifestyle, and location you’ve been searching for.
DETAILS
Creative Finance Terms
Terms
Suggested Offer Price: $800,000.00
Down Payment: $35,000.00 + closing costs
Balloon: 1st position loan (none), 2nd position due in 5 years
Existing Loan Details
Principal Loan Balance: $703,905.60
Interest Rate: 5.6%
Amortized Term: 30 Years
Payment (Principal & Interest): $4,714.65
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Q&A
How is this deal structured (in plain English)?
Title transfers to the buyer subject to the existing 1st-position mortgage and note (they stay in the seller’s name). The buyer then pays that underlying loan and a $55,000 seller carry documented by a Contract for Deed (CFD) at 0% interest, with the monthly payment amortized on a 30-year schedule and a balloon due in 5 years. All payments run through Escrow Specialists.
What about the “due-on-sale” clause—what’s the real risk?
Because title transfers while the loan remains in the seller’s name, the lender could call the loan due. In practice, risks are reduced by keeping payments current, maintaining required insurance, and using a professional servicer for a clean payment trail. Both buyer and seller acknowledge this risk in the signed disclosure.
Who handles taxes, insurance, and statements—and can I see the loan?
The underlying loan typically escrows property taxes and insurance. Those continue as part of the monthly payment. Escrow Specialists collects and remits payments and provides statements. Seller provides the online loan login and agrees not to change credentials; access continues even if the seller passes away (per the agreement).
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Better Homebuyer LLC is in possession of an assignable purchase contract and is considering selling this purchase contract.
We love working with buyers agents. Buyers agents add your commission on top of the purchase price.
All figures provided as a courtesy, buyer to verify all information.
We do not represent the seller in this transaction.