Dictionary:

presale

  (prē'sāl')

1. The period before something, such as a work of art, is available for sale to the public.
2. An exclusive or private sale held before an advertised sale.

Sale of proposed properties, such as condominiums, before construction begins. For example, a developer may presell condominium units at a discount before construction begins. Based on the presales, a developer is able to get a favorable Construction Loan.

Sale of proposed properties, such as Condominiums before construction begins.
Example: The developer presold 40% of the condominium units at a $5,000 Discount for each unit before construction began. Based on the presales, the developer was able to get a favorable Construction Loan.