First of all, when you purchase a presale home, you are paying for a future home. A pre-sale is when a developer offers condos to the market in some cases before construction of the building has started.
You only need to pay a deposit.
You will still pay the full price, but you don’t need to take out a home loan on the property right away.
The deposit will range from 5 to 10% of the purchase price, and further 10 to 15% increments throughout the building project.
Your deposit is held in a trust account until the building is completed.
If for any reason the developer does not finish the building, the full amount will be returned to you.
Want to be the first in line to get access to pre-sales or new developments? The best way to do it is to contact your REALTOR®! We can provide you with the information you are looking for, whether you want:
Details on exclusive properties for sale
Special pre-sale buying opportunities
Advising you on a suite selection that will work best for your needs, be it investment-oriented or related to personal use.
Guiding and advising you throughout the entire purchase process, with the offer, and with related documentation.
Supporting you once you have purchased with any questions you may have as well as the completion and rental and other referrals you may need post-completion.
If you’re interested in exclusive pre-sale deals, be sure to e-mail me at heather@heatherchua.com.
Keep Smiling!
-Heather Chua
Contact information: heather@heatherchua.com