Comments on: Millennium Tower going up, and the inside scoop (301 Mission) http://thefrontsteps.com/2007/10/01/millennium-tower-going-up-301-mission/ Real Estate, Insight, Statistics, Gossip, & News...With a Twist and Some Flavor Mon, 21 May 2012 00:11:30 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Sophie http://thefrontsteps.com/2007/10/01/millennium-tower-going-up-301-mission/comment-page-1/#comment-2493 Sophie Mon, 01 Oct 2007 16:28:37 +0000 http://thefrontsteps.com/2007/09/30/millennium-tower-going-up-301-mission/#comment-2493 <cite>Close of Escrow is scheduled for Spring of 2009.</cite> I have a question. Close of escrow is when - title is given against a big chunk of money. Right? So <strong>if</strong> they advertise "58% sold" what does that mean? that you can buy an "option" lasting about 18months? what is the cost of an option in % to the total price of the unit? Is the "option" money in the builder's pocket in the mean time (I would guess so as he needs money to build the thing). please explain - risks, advantages, or anything else related to that type of new development (same goes for the infinity etc). Close of Escrow is scheduled for Spring of 2009.

I have a question. Close of escrow is when – title is given against a big chunk of money. Right?

So if they advertise “58% sold” what does that mean? that you can buy an “option” lasting about 18months? what is the cost of an option in % to the total price of the unit?

Is the “option” money in the builder’s pocket in the mean time (I would guess so as he needs money to build the thing).

please explain – risks, advantages, or anything else related to that type of new development (same goes for the infinity etc).

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