Why mostly of the wise real estate investors buy in Pre selling stage?
By the way, What is a preselling property and what are its advantages? Well, Preselling, or off-the-plan properties like condominiums, townhouses, and house and lots—that are being sold by a real estate developer in advance before their actual completion.
Pre-selling Properties
1)Low Introductory Price -In the absence of the physical unit, pre-selling properties are normally sold at a cut-rate price of 30–50 percent off compared to the price of a finished unit or Ready For Occupancy (RFO) units.
2)Flexible Downpayment/Equity - Aside from its affordable introductory price, many property developers offer flexible payment schemes and even discounted down-payment price for their preselling projects. These same developers also offer in-house financing in the event that the homebuyer fails to qualify for a bank housing loan.
3)Give Buyers Pick the Best Unit Options or locations. -When buying a ready-for-occupancy (RFO) property, more often than not, the buyer is usually left to choose from the less desirable units or locations. In buying preselling properties, buyers are granted a privilege to choose their ideal lot or unit location at an early phase, usually during the project launching stage. When buying a condominium unit during the project’s preselling stage, the buyer is given the opportunity to pick the best unit, such as those facing the best direction and located on the perfect floor, or even one of the best units that are normally reserved for repeat customers.
4)An Excellent Investment Option - The value of real estate, especially well-located ones, appreciates over time. This is true for preselling properties. At the time of their completion, the value of preselling condos or house and lots have increased considerably, that the buyer can earn a profit by selling them in the secondary market or buyer to buyer in the RFO stage.
Some Tips Before Buying
As a smart homebuyer, you must be vigilant that any offer that comes with great advantages also carries some risks. One of the most drawbacks of buying a preselling property is that there is a chance that the developer you signed up with might back out from the contract and may not be able to deliver the unit at all. If you are unsure of investing to presold properties but does not also want to miss its perks, make sure to buy only from reputable real estate developers, those who have a good track record with delivering quality properties on time all the time.
As for me, one of the most reliable Real Estate Developer in the Philippines is the SMDC of SM Group of Companies: Click here to see some of their Condomium Projects in Metro Manila
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