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Many people have made a lot of money buying a home during the Pre-Sale phase of a development when prices are often greatly discounted. Besides the discounts, it can be an advantage for some buyers to be able to make a deposit and then pay the balance over time as progress is completed.
However, at the bottom of every real estate cycle, there are also developments that end up in financial trouble, which delays the promised completion date, sometimes leaving buyers without a finished home, and at the minimum, the buyers may lose their deposits.
There are hundreds of developments around San Miguel, and most of them will be successfully completed in a timely manner. But from known history, there are also some that will have problems along the way and won't survive.
We choose to list many of these Pre-Sale developments because they often have a very attractive price point... and more. At the same time, we choose to add this disclaimer to these types of listings.
Although our agents can help you investigate the circumstances of each one, as the buyer, you need to understand and be comfortable with the risk before you commit to buying.
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