1. What is a pre-sale?
Before a new project can be built, developers are often required to sell a percentage of the available units in order to obtain construction financing. As a result, pre-sales provide you an opportunity to purchase a unit before the project is built.
2. How can I benefit from purchasing pre-sale?
Because developers must sell a percentage of the units before they obtain financing, they are made available during pre-sale at a discount. Not only do you save initially, you’ll also realize an increase in value as a result of post-constructing pricing and benefit from Seattle’s strong market appreciation.
3. How much do I need to put down?
The amount you need to put down depends on the developer. Generally, 10-20% of the purchase price is required as down payment.
4. What projects are currently pre-selling?
Seattle is undergoing a condominium renaissance with many luxury and high-rise projects under development. Here are a few:
Belltown / Denny Triangle / Lake Union
- The Martin
- Veer Lofts
- Rollins Street Flats
- Enso
- Equinox
- Gallery (ground break est Summer 2006, Occupancy 2008)
Downtown
- 5th & Madison
- Stewart
- Escala Midtown
- Second + Pine (25% reserved as of 5/16)
5. How do I find out more about pre-sales?
Please call, email or IM. Click here for my contact information.
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