A presale in real estate refers to the sale of a property before it has been completed or before it has been made available for public sale. Typically, developers will offer presale properties to prospective buyers early in the construction process, before the building has been completed.

During a presale, buyers are often able to purchase a property at a lower price than they would be able to once the development is complete and the property is on the market. This is because developers use presales as a way to secure financing for the project and to gauge interest from potential buyers.

When a buyer purchases a presale property, they are essentially buying a promise from the developer that the property will be completed according to certain specifications and within a certain timeframe. In exchange for their commitment, the buyer may be required to put down a deposit or make payments over time.

Once the property is completed, the buyer will take possession and become the owner. During the construction process, the buyer may have the opportunity to make customizations to the property, such as selecting finishes or layout options. Overall, presales can be a good option for buyers who are looking for a new home or investment property and are willing to wait for it to be completed.