Understanding Preview Sales Events

• What is preview sales event?
• What's the advantage of purchasing a unit during a preview sales event?
• What you should know before the start of the sales event?
• What happens after you get the floor plans, price list, building amenities, deposit structure, maintenance cost?

What is preview sales event?

• The earliest time to purchase a unit on a brand new condominum project. 
• This is usually before the builder's sales center opens for the general public.
• It's also referred to as VIP Sales Event.

What's the advantage of purchasing a unit during a preview sales event?

• Usually, there are financial incentives to purchase this early in the sales cycle. The prices of the units are usually the cheapest during this time.  It typically goes up before it opens to the general public.  Some projects might offer other incentives like lowered downpayment, free assignment fee, upgrade finishes, etc.
• Securing the best possible floor plan with the best possible view. 

What you should know before the start of the sales event?

• Familiarize yourself with neighborhood information around the new condominium project. 
• Secure a mortgage pre-approval.  This way you know exactly how much you can spend.
• Arrange your finances for the deposit.  This is usually 25% of the purchase price.  It is higher for international purchasers and sometimes lower due to a promotion.
• Find a real estate lawyer.  This way, you do not have to start your search in your 10 day cooling period.
• Understand what you need to do during the 10-day cooling period (and your options).

What happens after you get the floor plans, price list, building amenities, deposit structure, maintenance cost?

• Review the information package. 
• If you are interested in a particular unit, contact me as soon as possible to reserve that unit. 
• The available units are sold on a first come first serve basis. It's best to reserve a unit the same day you get the project information.
• Arrange a time to fill out some paperwork. 
• Let your lawyer know that you will be dropping off the purchase agreement for review

Sign up for our newsletter to get notified of up-coming preview sales events. We also provide a private one-on-one session for any new clients to go over this preview sales event in more detail.  Contact us to arrange a FREE, NO-OBLIGATION information session.