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How can home buyers get early access to new development condominium projects? I keep hearing about Schedule A pricing for friends and family, when a new construction project is in its early phases and the developer is eager to get a few contracts signed to show progress to lenders.
I also hear that there's more of an ability to customize your unit if you get in early, is this true?
I hear financing can be difficult for an early buyer as lenders typically like to see 50% or more of the units in a project being in contract first. This is likely why sponsors prefer the first closings to be with all cash buyers.
Lastly, can some agents really get you early access to new construction condos at Schedule A pricing? I mean, isn't everything pretty much listed online?
I also hear that there's more of an ability to customize your unit if you get in early, is this true?
I hear financing can be difficult for an early buyer as lenders typically like to see 50% or more of the units in a project being in contract first. This is likely why sponsors prefer the first closings to be with all cash buyers.
Lastly, can some agents really get you early access to new construction condos at Schedule A pricing? I mean, isn't everything pretty much listed online?