Definition of "Presale"

Susan Kumpula & Edward Heitchue
Susan Kumpula & Edward Heitchue Remerica United Realty

Selling a commercial or residential unit prior to its completion. For example, a residential home developer discounts the price of a home by $10,000 if prospective buyers will agree to purchase prior to its completion. This enables a developer to obtain a construction loan to complete additional units.

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Comments for Presale

Artemis Artemis said:

Do most commercial buildings (apartments) require you put in an offer before you can view the property?

Apr 10, 2018  18:28:27
Real Estate Agent

Hello, Artemis!
Thanks for reaching out!

You want to buy the whole building, did we get it right? If so, yes it is the common practice to just give you a tour of the common areas (should they exist) like the garage, pool, gym, power control center etc. The current owner doesn't want to bother Tenant's and their privacy and wants to avoid lookie-loos, so they require an offer to see if you're serious about it before allowing you to see any units. 

Apr 13, 2018  10:52:03

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