Tag: Condo Pre-sale
First Look: Insignia Condos – Seattle
First look of downtown Seattle’s long anticipated and largest condominium development, Insignia.
One Olive 8 buyer’s perspective
Here’s an excellent blog posting by a pre-sale buyer at Olive 8 and his decision to walk away from $23,750.
Fannie Mae revises condo guidelines
Effective March 1, 2009, Fannie Mae is implementing condo guideline changes “in light of the current condo market and the need to mitigate risk on condo loans”. Some of these changes may affect a buyer’s ability to obtain conventional condo loans for new and established condos
Presale Lending
When purchasing a home, whether it’s a presale condo or a resale single-family house, you should be pre-approved for a mortgage. The pre-approval lets the seller or builder know that the buyer can afford the amount and complete the transaction. It will strengthen your offer. For many presale purchases, it’s often a requirement that buyers…
Pre-Construction Investing
In this article I’d like to take a look at pre-construction investing. In the past few years, pre-construction investing became increasing popular in places like Florida and California where they experienced condo booms. Seattle is on the verge of its own condo boom which has spurred interests from professional investors and individuals alike. Florida especially…
Presale Process
This article focuses on the pre-construction presale process. The presale process is composed of four distinct phases – Reservation, Examination/Contract, Construction and Closing. Reservation The Reservation phase is the first offering to the public. Developers will provide preliminary renderings, floor plans and prices of the project. In Seattle, many high-end developers will host a presentation…
Pre-Sale Quick FAQs
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?…
