Common Questions About Preconstruction Real Estate for Sale in Florida and Mississippi.

Following are a number of common questions about pre-construction condos for sale in PAnama City Beach or Miami Florida, as well as Mississippi. If you need further assistance please contact us.

What is “preconstruction”?
Pre-construction is just what it says. It is prior to construction. Typically a processs by which developers make available to the public properties they plan to build.

What if I change my mind after before “Hard Contract”?
Should you wish to cancel your reservation you receive all your money back within a few days. Since your money is held in escrow you will simply be asked to fax a provided document expressing your intent.

Who can you trust?
You should only trust those who are licensed to sell pre construction real estate and who are working with reputable developers who are licensed in the state of the development. State laws regulate the process and timeline as well as how money is handled. You will notice that monies are kept in escrow for everyone’s protection.

What kind of return can I expect?
The answer to this is “it depends”. It depends on the market. It depends on your cash investment. It depends on your exit strategy. You will find that many people have tripled their investment, or better.

Do prices change during the project?
While the reservation documents usually do indicate that pricing is subject to change we have not ever experienced this. It would not be in the best interest of the developer to jeopardize alienating those who reserved units by raising prices. However, it is possible.

Where can I got to get my Letter of Credit?
It is best to start by contacting your local bank to get a letter of credit. In many cases, a development will issue a bank with whom they have a relationship for issuing letters of credit.

Where can I get more info about pre-construction?
Go to www.preconstruction101.com to listen to interviews with Steve Presley and Kyle Dreier as they explain the various aspects associated with pre-construction sales investing and purchasing.