CATERPILLAR INCENTIVE PROGRAM Q & A

Q: Who is eligible for the 3% incentive? 
A: Any buyer of a Caterpillar relocation program home in the Peoria area is eligible.

Q: Who is eligible for the buy out program?
A: Any home within a 20 mile radius of the Caterpillar downtown headquarters worth more than $85,000. Buyer must purchase a home with a value of 25% or more than their current home AND the purchased home must be at least $300,000 and a Caterpillar relocation program home. EXAMPLE: You live at 123 Main St, your home is worth $175,000. If you purchase a Caterpillar relocation program home that is $300,000 or more, Caterpillar will offer to purchase your current home PLUS give you $3,500 in moving costs PLUS 3% closing costs on the new home! WIN-WIN

Q: I am currently renting, is there any incentive for me?   
A: YES! The new enhancement includes a lease buy out! Caterpillar will pay up to $10,000 in lease cancellation fees if you purchase at $300,000+ Caterpillar relocation program home. PLUS give you $3,500 in moving costs PLUS 3% closing costs on the new home! 


Q: How do I know if an incentive is being offered?   
A: The incentive being offered will show up in the remarks area for any eligible listing.  Or just ask The Knell Group. See BELOW! 

Q: How is the 3% incentive determined?   
A: The 3% incentive is calculated based on the net sale price of the home

Q: How will the 3% incentive be applied to my purchase and how can it be used?    
A: The incentive being offered is first and foremost subject to your lender’s approval.  The 3% incentive could be used toward your closing costs (loan fees, inspections, appraisal fee, etc.), a credit could be used if you are planning to do repairs/renovations to the home or can even be used to buy down your interest rate.  Your Realtor and Lender will help determine the best way to maximize the incentive.


Q: Why is Caterpillar offering a home incentive program like this? 
A.  Caterpillar is a major player in the Peoria-area job market, and they recognize the impact that both their long downturn and this relocation may have on the local real estate market. The incentivized program is similar to programs offered at other companies that have reestablished global headquarters. CAT’s intention with this program is to minimize the impact to the Peoria Real Estate Market by keeping the integrity of home values.


Q: Does the home have to be related to the headquarters move? 
A: No, any Caterpillar relocation program home in the Peoria area is eligible for the incentive. This may include homes from employees relocating for other jobs within the company.

Q: How many Caterpillar homes do you expect to be added to the market as a result of this headquarters relocation? 
A: We cannot predict how many homes will go onto the market as a result of the headquarters move. It is important to note that some relocating employees may elect not to sell their home, choose to rent out their home, or utilize opportunities that best fit any number of personal situations. Additionally, not all homes will be coming onto the market at once. The transition to the new headquarters started in May 2017 and continue through mid-2018.

Q: What if I have more questions about the program?
A: Interested buyers are encouraged to contact THE KNELL GROUP of Coldwell Banker | The Real Estate Group.



CURRENT LIST OF HOMES OFFERING INCENTIVES

Please keep in mind that not ALL buyer incentives being offered are part of the Caterpillar Relocation Program.  Some independent sellers are also offering buyer incentives.  Please check with your Realtor for additional details.

Knell Group Collection     

3507 W TEDFORD Drive

Peoria, Illinois

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100 SKYLARK Lane

Washington, Illinois

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203 W COPPERFIELD Drive

Dunlap, Illinois

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405 E SWORDS Drive

Edelstein, Illinois

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2212 W CHATSFORD Court

Peoria, Illinois

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Home Purchase Program Eligible

5915 W EAGLECREEK Drive

Peoria, Illinois

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Home Purchase Program Eligible

5904 W FORESTWOOD Drive

Peoria, Illinois

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Home Purchase Program Eligible

419 HIGHVIEW Road

East Peoria, Illinois

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Individual Seller Incentive

4611 N GRANDVIEW Drive

Peoria Heights, Illinois

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Home Purchase Program Eligible

606 W COPPERFIELD Drive

Dunlap, Illinois

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Individual Seller Incentive

1109 S COPPERPOINT Drive

Dunlap, Illinois

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Home Purchase Program Eligible

6610 N PARKLAWN Court

Peoria, Illinois

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Home Purchase Program Eligible

4527 N MILLER Avenue

Peoria Heights, Illinois

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Home Purchase Program Eligible

6421 W STONEBROOK Drive

Edwards, Illinois

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Individual Seller Incentive

818 W GRAND OAK Drive

Peoria, Illinois

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Home Purchase Program Eligible

 Area Homes (Listed by Price)     

1211 OAK RIDGE Avenue

Pekin, Illinois

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Individual Seller Incentive

936 W TRAILCREEK Drive

Peoria, Illinois

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Individual Seller Incentive

3329 W KING JAMES Road

Peoria, Illinois

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2216 W JUBILEE Lane

Dunlap, Illinois

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2724 W NEWMAN Parkway

Peoria, Illinois

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1904 FIELDSTONE

Washington, Illinois

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Individual Seller Incentive

217 CAVELIER Road

Marquette Heights, Illinois

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5222 N MERRIMAC Avenue

Peoria, Illinois

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9303 N FRYE Road

Peoria, Illinois

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516 W RICHWOODS Boulevard

Peoria, Illinois

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1934 COBBLESTONE

Washington, Illinois

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3507 W TEDFORD Drive

Peoria, Illinois

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5100 N SHERWOOD Avenue

Peoria, Illinois

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Individual Seller Incentive

700 BAYBERRY

Washington, Illinois

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100 SKYLARK Lane

Washington, Illinois

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467 E TOWNHALL Road

Metamora, Illinois

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1119 W MOSS Avenue

Peoria, Illinois

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Individual Seller Incentive

311 W ARMSTRONG Avenue

Peoria, Illinois

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Individual Seller Incentive

10535 N LIVERPOOL Drive

Peoria, Illinois

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Individual Seller Incentive

424 W NORTHPOINT Lane

Peoria, Illinois

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Individual Seller Incentive

483 TOWNHALL Road

Metamora, Illinois

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Individual Seller Incentive

203 W COPPERFIELD Drive

Dunlap, Illinois

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1617 OAK RIDGE

Washington, Illinois

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6806 N AYCLIFFE Drive

Peoria, Illinois

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4044 W TALUS Court

Peoria, Illinois

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Individual Seller Incentive

7084 N AYCLIFFE Drive

Peoria, Illinois

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Individual Seller Incentive

11735 W Hickory Springs Drive

Brimfield, Illinois

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4629 S KING ARTHUR Court

Mapleton, Illinois

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405 E SWORDS Drive

Edelstein, Illinois

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2212 W CHATSFORD Court

Peoria, Illinois

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11612 N DUNMORE Drive

Dunlap, Illinois

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Individual Seller Incentive

210 SOMERSET Drive

Germantown Hills, Illinois

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713 DRAKE

Washington, Illinois

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Individual Seller Incentive

11611 N BALLYMORE Avenue

Dunlap, Illinois

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Home Purchase Program Eligible

2021 W LIAMS Way

Dunlap, Illinois

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Home Purchase Program Eligible

1801 WINGED FOOT Drive

Pekin, Illinois

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Home Purchase Program Eligible

115 MIROMAR Lane

Washington, Illinois

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Home Purchase Program Eligible

5708 W DEER PARK #50

Peoria, Illinois

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Individual Seller Incentive

11511 N EVANS MILL Road

Princeville, Illinois

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Individual Seller Incentive
Home Purchase Program Eligible

11511 N EVANS MILL Road

Princeville, Illinois

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Home Purchase Program Eligible
Home Purchase Program Eligible

1210 WHETSTONE Drive

Morton, Illinois

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Home Purchase Program Eligible

1500 FONDULAC Drive

East Peoria, Illinois

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Individual Seller Incentive

6909 N Basket Oak Drive

Peoria, Illinois

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Home Purchase Program Eligible
Individual Seller Incentive
Home Purchase Program Eligible

5915 W EAGLECREEK Drive

Peoria, Illinois

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Home Purchase Program Eligible

809 W BENNETT Court

Dunlap, Illinois

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Individual Seller Incentive

6705 N GREENWICH Place

Peoria, Illinois

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Individual Seller Incentive

5800 W EAGLECREEK Drive

Peoria, Illinois

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Individual Seller Incentive

1009 W BENNETT

Dunlap, Illinois

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Individual Seller Incentive

5904 W FORESTWOOD Drive

Peoria, Illinois

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Home Purchase Program Eligible

4319 W DEERMEADOW Drive

Peoria, Illinois

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Individual Seller Incentive

6812 N Sumac Road

Edwards, Illinois

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Individual Seller Incentive
Home Purchase Program Eligible
Individual Seller Incentive

5829 W FORESTWOOD Drive

Peoria, Illinois

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Individual Seller Incentive

2310 W PINNACLE Drive

Dunlap, Illinois

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Individual Seller Incentive
Individual Seller Incentive

4408 LONGMEADOW Drive

Peoria, Illinois

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Individual Seller Incentive

10627 N TRAILS EDGE Drive

Peoria, Illinois

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Individual Seller Incentive

4105 W VISTARIDGE Court

Peoria, Illinois

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Individual Seller Incentive

509 WHISTLING STRAIT

Washington, Illinois

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Individual Seller Incentive

903 W BENNETT Court

Dunlap, Illinois

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Individual Seller Incentive

419 HIGHVIEW Road

East Peoria, Illinois

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Individual Seller Incentive

4611 N GRANDVIEW Drive

Peoria Heights, Illinois

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Home Purchase Program Eligible

606 W COPPERFIELD Drive

Dunlap, Illinois

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Individual Seller Incentive

1109 S COPPERPOINT Drive

Dunlap, Illinois

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Home Purchase Program Eligible

31 SAPPHIRE Point

Morton, Illinois

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Individual Seller Incentive

7611 N EDGEWILD Drive

Peoria, Illinois

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Home Purchase Program Eligible

6610 N PARKLAWN Court

Peoria, Illinois

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Home Purchase Program Eligible

4527 N MILLER Avenue

Peoria Heights, Illinois

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Home Purchase Program Eligible

6421 W STONEBROOK Drive

Edwards, Illinois

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Individual Seller Incentive

818 W GRAND OAK Drive

Peoria, Illinois

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Home Purchase Program Eligible

                                                      

A great time to BUY! Contact The Knell Group for ANY of your real estate needs. We can connect you with a lender for a pre-approval. We are a full service team with you from START to FINISH!