What is a pre-sale reservation?
An interested party places $10,000 on deposit to reserve a right to buy a Villa. This deposit is completely refundable. A list is created of all reservation positions. When the condo documents and the building permits are finalized calls are made and each reservation holder is contacted in the order of reservation contract. At that point, the reservation holder can opt out of the contract and receive a refund of $10,000, or enter into a real estate contract at which time the $10,000 is applied to the down payment.
