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THERE ARE CURRENTLY NO PRECONSTRUCTION DEVELOPMENTS IN OUR AREA
WHY BUY PRE-CONSTRUCTION WHEN I CAN BUY ONE ALREADY COMPLETED?
Two Basic Reasons
(1) Limited location and availability
(2) By purchasing at pre-sale you are able to buy at a reduced price, and coupled with the appreciative expectations upon completion makes it a very wise investment. Many people have purchased pre-sales for reason number 2, and many of these have sold their units even before the building is complete.
Why Pre-Sell?
Most developers are not able to place all of their funds into construction of a development which is not assured of success. Also most construction lenders (Banks) feel the same way and want to be assured the construction loan can be repaid in a timely fashion. Pre-selling of buildings and resort condominiums have become a standard process and virtually every resort condominium is pre-sold today.
As a purchaser, what protection do I have buying a pre-sale?
Alabama law states that deposits are to be held in escrow until the condominium is completed and only released upon a formal real estate closing when the property is transfered to you.
You Are Represented
With your real estate agent, YOU are represented! Your agent's experience, knowledge, and reputation represents strength and leverage on your behalf. | |
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