In almost all real estate purchases, the purchaser is required to pay a
deposit to the vendor. This is to provide some comfort to the vendor
that the purchaser is serious about completing the sale. Over the past
decade or so, there has been a proliferation of pre-sale contracts;
especially for strata-titled properties. Pre-sale contracts work to the
benefit of both parties in that purchasers can get in to a property at
lower prices and developers, when they have a sufficient percentage of
pre-sales, can obtain conventional, lower-cost financing.
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