Close of Escrow [for units at the Millennium Tower] is scheduled for Spring of 2009.
I have a question. Close of escrow is when title is given [for] 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).”
-Millennium Tower going up…” [theFrontSteps]