Presales

Renounceable Sale Contracts

Prudential Finance can arrange for developers a service whereby standby presales (put options) on new residential projects are arranged to a sufficient level to enable financing to take place (complying with Bank presale requirements).

The facility is a standby facility and the presales (Put Options) are arranged at a discount to the market/list price.

The developer does not intend to sell the unit to the “standby purchaser” as the developer aims to sell the units at the list price to the normal market over the construction period. However by arranging these “standby presales” (put options), at a discount, there is usually sufficient sale value to cover Bank debt. This gives the Bank comfort that, in need (say 6 months after the completion of the project), it can call up these standby sales to repay the debt if the developer has not sold or refinanced the remaining apartments.

the property developer's financier

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Phone 1300 550 669
International +61 4 0084 0756

PO BOX 1450 Double Bay NSW 1360

Office
Level 25 Aurora Place, 88 Phillip Street
Sydney NSW 2000 Australia

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