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Buying Preconstruction

Started by StreetChallenged
over 9 years ago
Posts: 19
Member since: Aug 2013
Discussion about
I recently saw an offering plan for a new development that hasn't been constructed yet. If I'm interested in buying one of these units, would I be able to put down a deposit to buy by reaching out to the firm who will be marketing the property? Or do I need to wait until presale and after an agent from the firm has been assigned to sell the project?
Response by CCL3
over 9 years ago
Posts: 430
Member since: Jul 2014

I don't think they are allowed to sell you anything (or take a deposit) until they have filed certain documents with the city/state. You can reach out and ask them when that will happen and when pre-sales are officially starting.

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Response by 30yrs_RE_20_in_REO
over 9 years ago
Posts: 9881
Member since: Mar 2009

Until an Offering Plan has been filed and accepted they are not supposed to. But plenty of deals have been done with "friends" pre-Offering Plan in the past.

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