If you are an endeavoring homebuyer who is actively looking for properties for sale in listing websites, or if you are actively attending open houses, we are sure you bumped into the word ‘pre-selling’ at some point. Let’s understand what a pre-selling property is and what are its advantages?
Preselling properties are the pieces of real estate—either townhouse, house or lots—that are being sold by a real estate developer in advance before their actual completion.
Pre-selling properties Are generally Cheaper
In the absence of a physical unit, a Preselling property could prove to be a golden deal sold at a cut-rate price of 30–50 percent off. Furthermore, many property developers offer adaptable payment offers and in fact discounted down-payment price for their pre-selling properties. If you fail to qualify a bank housing loan, these developers also offer in-house financing.
They grant Buyers the ideal Unit Options
In buying pre-selling properties, the buyers are granted a right to choose the best lot or unit located at an early phase, generally during the launch of the project. One is given the privilege to choose the lot located on the perfect floor or facing the best direction.
Once accomplished, they could bring in steady flow of income
Once the property is completely finished, it gets ready for occupancy. You could opt to rent it out, and earn a steady flow of cash. Alternatively, the buyer could choose to make a lot more from the pre-selling property by selling it once it gets completed, and by this time the property would increase its value.
Handy Tips Before Buying Pre-selling property
As a smart homebuyer, you must make sure to buy the pre-selling development only from reputable real estate developers, the ones who have a good track record and deliver quality properties on time all the time.