Construction

Pre-construction sales are those real estate transactions that are initiated prior to a particular project being constructed.

Q. What’s the benefit of buying in the pre-construction phase?

A. Pre-construction prices are generally lower than those of existing like-kind resales of existing real estate.

Q. Why do developers discount the prices of units for pre-construction buyers?

A. The prices are discounted to give the buyers the incentive to buy something they can’t see, touch nor feel. Sky and paper are harder to sell than concrete and steel. Discounts often times make the difference.

Q. Why do developers sell pre-construction rather than build first?

A. Developers sell pre-construction, even at the lower prices because they usually need pre-sales in order to secure their construction loan. Letters may require that 50%-80% of a project be sold before construction can begin.

Planning and patience pay off when buying pre-construction property. You need to plan so that you have the necessary funds when it comes time to convert. And, you need patience waiting for the documents to be delivered and for the condo to be built.

A recently completed beachfront condo shows just how well planning and patience pays off. Units were selling in the $190’s at the Reservation Agreement Phase, but by the time the project was completed, the same units were selling in the $270’s. Of course, there is no guarantee that other projects will perform as well. But if the pre-construction prices compare favorable with existing resales, then there is a good probability that you will enjoy substantial appreciation for your patience. There are four phases to pre-construction sales:

Reservation Agreement
Right of Rescission Period (15 days)
Contract for Sale
Closing the Sale

Let’s take a look at how each phase works:

1. Reservation Agreement

The developer has preliminary floorplans, site plans, amenities and prices. ALL are subject to change. Buyers reserve units with a nominal “intent to buy” deposit- usually 5% or less of the purchase price. The deposit is made to an interest bearing bank trust account. It does not go to the developer. Buyers can get their money back at any time. There is no risk.

2. Right of Rescission Period

Also called the “document examination” period. Developer will deliver the state- approved Condominium Documents. The “condo-docs” contain the final, exact details of the project including the site plan, floor plans, amenities, rules, by-laws, budget, etc. The buyers then have 15 days to decide whether to go ahead with the purchase or to get their money back.

3. Contract for Sale

Buyers put up the balance of the required earnest money: usually 20% of the contract price. The contract then becomes binding on both parties. Not all of the reservation agreements will convert to a contract for sale. There are always a few people who fail to plan and are caught short of funds. If enough of them convert, the developer gets the construction loan. If the developer comes up short on conversions, he or she will have to obtain more sales before construction can begin.

4. Closing the Sale

The condominium is completed and a Certificate of Occupancy is issued. The buyer(s) does a walk-through inspection and then goes to closing where they put up the balance of the purchase price plus closing, costs. This is the happy day when they finally get to move in.

I have extensive knowledge and experience in buying Pre-Construction properties and would enjoy sharing that information with you in greater detail.

Please contact me today so we may discuss all of the opportunities and options available along Florida’s Beautiful Emerald Coast.

WHY YOU NEED AN AGENT WHEN BUILDING A HOME

Cost to You

Nothing! Any compensation given to REALTOR is recognized by the builder as a marketing fee and has no impact on the final cost of the home. Builders desire, expect and encourage REALTOR participation.

Savings to You

Are you getting what you’re entitle to have … both in quality and value? Your experienced agent knows what you should receive and what “extras” might be available.

Resale…Appreciation & Profit

Give your investment the best opportunity for appreciation at resale. Questions concerning site location, builder, design and decor are important. Your agent knows you are building not only for today … but for tomorrow.

You Are Represented

With your real estate agent, YOU are represented! Your agent’s experience, knowledge, and reputation represents strength and leverage on your behalf.

BERKSHIRE AT EMERALD BAY

300 Berkshire Place
Destin, FL 32451

All Reservations have been Taken
1849-1886 Sq Ft

Status Coming Soon
Bedroom 3
Bathroom 3
Gated Entry Yes
Tee Time Priority
Tiled Porches Yes

Destin, FL – Luxury condominium
1849 and 1886 Square feet
3 Bedrooms and 3 baths
10′ ceilings
Screened and tiled porches overlooking the Emerald Bay 9th fairway and lake
Spacious living room with optional fireplace
Gated entry
Emerald Bay tee time priority
The swimming pool and tennis courts are equally convenient, and some of the most beautiful white sandy beaches in the world are less than 5 minutes away.
Breakfast Bar, Ceiling:Crown Molding, Floor:Tile, Floor:W/W Carpet New, Furnished:None, Lighting:Recessed, Split Bedroom, Washer/Dryer Hookup

SIGNATURE BEACH

1816 Scenic Highway 98
Destin, FL 32451

All Reservations have been Taken

1816 Scenic Highway 98
Status Coming Soon
Pools Yes
Balcony Yes
Granite Countertops Yes
Roof Top Pool Yes
GE Monogram Appliances
Double Oven Yes
Maple or Cherry Faced Cabinets
Floor to Ceiling Glass
Crown Molding Yes
48 Ounce Carpet Yes – Master
Marble Tile Shower
Marble Tub Yes

This is the trademark of the Emerald Coast beaches. And the inspiration for Destin newest gulf front address – Signature Beach. Designed around expansive views. A staggering sixty-five-foot span. It presents the ultimate in luxury. The magnificent Gulf vista is rivaled only by the artfully designed space, the exquisite finishes, the attention to detail and the pleasure of calling this paradise home. Relax on your expansive balcony or enjoy the privacy of the roof-top pool and terraces. Within easy reach are world-class golf and tennis resorts, spectacular five-star restaurants and humble seafood shacks, deep-sea and backwater fishing. Don’t forget the magnificent sugar beaches. One and one-half miles of which are held in preserve in the Henderson Beach State Park adjacent to Signature Beach.

KITCHEN
Granite countertops – Under-counter mounted sink
GE Monogram Series appliances – Large capacity refrigerator
Double oven with convection/microwave and warming drawer
Maple or cherry faced wood cabinets

MASTER SUITE
Two-piece painted 9” crown molding
Floor to ceiling glass – 48 ounce carpet
Full-height marble tile shower – Marble tub surround
Master bath steam shower unit
Kohler plumbing fixtures
Marbled tile wainscot
Market Comparison

COMPARE TO OWNING A GULF FRONT HOME
Over twice the width of an average Gulf Front home
Minutes from private airport
Within 2 miles of pristine golf courses
Steps away from luxurious spa and restaurants

GRAND DUNES

Hwy 98 east
Destin, FL 32451

All Reservations have been Taken
2,600 – 5,000 Sq Ft

Hwy 98 east
Units 89 Homes
Status Coming Soon
Year Built Coming Soon
Levels 18 Floors
Bedroom 3, 4 and 5
Entry Stately Porte Cochere
Lobby Grand with Informal Bar
Gulf-Front Fitness Yes

Grand Dunes
Destin/South Walton Beach’s Last Major Beachfront Development, another quality Paul Freeman Company development – Grand Dunes. High-speed private elevators will link owners from the secured underground parking directly into your own personal elevator foyer. “Once inside, these homes offer expansive great rooms with 9½ to 10-foot ceilings (with 20-foot ceilings in the two-level penthouses), accommodating oversized glass with bi-directional views of the Gulf and sunset and all of our homes feature two Gulf front bedrooms. These features along with the room sized (11 ft. deep) wrap-around balcony with our exclusive stainless steel built-in gas barbecue grill makes it stand apart from the typical ‘shotgun’ condominium,” Freeman said.
Open elegant kitchens with oversized granite islands created by award winning certified kitchen designer Jere Bowden feature travertine floors, premium stainless steel appliances with gas cooking and “clear ice” ice makers. Luxurious master bedroom suites will have Gulf views and two large walk-in closets, Jacuzzi tub for two, double sink with makeup vanity, shower room for two with bench and dual showerheads, and private water closet.
Other home features include: pre-wiring for the latest in home security, computer and audio-visual entertainment allowing for music to be individually controlled in each room. In addition, a host of pre-construction options will be available, allowing buyers to customize a home to their own personal tastes.

Grand Dunes Resort Amenities
18 story Gulf front rental restricted condominium villa homes
89 huge, well designed, 3, 4 and 5 bedroom floor plans
Ranging from 2,600 sf to over 5,000 total sf
Dramatic 2-level penthouses
Private Beach
Secured gated resort
Tennis Amenity
Stately Porte Cochere entry
Grand Lobby with elegant informal bar and seating area
Gulf front Exercise Room
Private Owners’ Conference Room
2 Suites for overflow guests
Lushly landscaped grounds
Flowing Stream meandering through a tropical setting with Waterfall finishing into a Lagoon style Pool and Hot Tub area
2 Levels of secured Underground Parking
Memberships available at prestigious Shark’s Tooth Golf Club

ST. TROPEZ

31 Private Mediteranean Style Villas with Gulf Access

1,800-2,000 Sq Ft

Scenic Highway 98

Euporean Look – Mediteranean Style – Paver Streets, Concrete and Stucco Construction. Outstanding Architecture. Directly across from the Gulf of Mexico. Gulf Access.

ADAGIO

Gulf Front

2000 to 2400 Sq Ft

2421 E. Highway. 30-A
Units 130
Status Coming Soon
Bedroom 3
Bathroom Yes
Pool 2
View Gulfront
Fitness Room Yes
Community Room Yes
Floors 3 & 4

Welcome to ‘Adagio’… (Italian for “a slow, leisurely pace”). The most luxurious condominiums on Scenic Highway 30-A. This Condominium is located in Blue Mountain Beach. Blue Mountain Beach is the highest point on the Gulf of Mexico in the United States. This site has one of the best views on the Gulf. This Condominium has 3 gulf-front buildings and 4 poolside for a total of 130 units. All gulf-front units sit directly on the coastal control line. This is a gated community with amenities that include an on-site Fitness Center and Conference/meeting room! It also has two (2) awesome pools — a heated infinity edge pool that sits directly against the dunes on the gulf, and a 8,000 square feet pool just behind the gulf-front buildings. The interiors include every possible luxury: 10’ ceilings with crown moldings, underground parking for all gulf-front units, granite countertops, all stainless steel appliances including built-in icemaker and gas or electric cooktops, upgraded custom cherry or maple hardwood cabinets, as well as tumbled marble kitchen and master bath vanity backsplashes. Additional upgrades include an oversized master whirlpool tub, double-headed glass shower with built-in seating, tumbled marble walls and floor, and large storage area/owners closet in all units. Gulf-Front units have a study which can also be used as a 4th. bedroom.