Dictionary of Business Terms: presale
presale
sale of proposed properties, such as condominiums, before construction begins. For example, a developer may presell condominium units at a discount before construction begins. Based on the presales, a developer is able to get a favorable
Dictionary of Real Estate Terms: presale
presale
sale of proposed properties, such as condominiums, before construction begins.
Example: The developer presold 40% of the condominium units at a $5,000 discount for each unit before construction began. Based on the presales, the developer was able to get a favorable construction loan.
