Pre-Con 101

Common Terminology
The process of purchasing a home and selling it prior to closing is referred to as an 'assignment sale'.
The first date the purchaser is allowed to move into or occupy the property.
A “rendering” is architecture-speak for an illustration (usually three-dimensional) of a design project.
A pre-approval is a preliminary evaluation of a potential borrower by a lender to determine how much of a mortgage they would be able to afford.
Depending on the project, you will be asked to put down a deposit anywhere from 5-15%
Top agents and brokerages often offer VIP incentives if you purchase a project through them. Incentives can include free assignment, exclusive pricing, capped development charges, free appliances, etc.

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