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A pre-construction condo is exactly what it sounds like: It is a department that has not yet been built.
The developers sell rental properties before construction, very early in the development process to finance the rest of the project.
Sometimes the apartment development is still in the planning phase, sometimes the developer has a broad vision or concept for the development, but few details.
In other developments, the plan is ready, the concept has been approved by the local governing body, and floor plans are available.
It's not uncommon for developers to offer exceptional deals on pre-fab units, and they typically cost less than existing or resale properties.New apartment, all new.
For added security, most developers offer a 1- to 7-year post-move-in warranty plan.
