Have you ever heard of “sub sales” in real estate? These are transactions where a property is sold before it’s even completed, and they make up a surprisingly small portion of the market. This rarity often leads to many questions and myths: What exactly does selling a home in this phase entail? And if you’re aiming for profit, how do you set a price for a property that’s not yet finished and unseen by potential buyers? To give you a look at how a sub sale is considered, and the kind of numbers you can expect, here’s a good case study in the form of Penrose: A rundown on Penrose Penrose is a leasehold condo in District 14, which launched on 27th September 2020. The 566-unit project should be completed sometime in 2024, but as there are already multiple sub sale transactions recorded; this makes it a suitable case study....