Pre-Sales Underwriting

Killarney Capital provides pre-sales underwriting for property development and commercial projects.

 

Pre-sales underwriting is an unconditional but renounceable sale & purchase agreement at a guaranteed price. Renounceable in that the developer can replace it with a better offer, at their and their lenders discretion.

 

Development underwrites can be tailored specifically for your lender to assist with the level of pre-sales they require for a development finance loan approval. This allows the project funding to go ahead and the developer the opportunity to re-sell the units at the market price closer to project completion – at the same time renouncing the underwritten sale and purchase contracts.

 

Killarney selectively underwrite development projects with general underwrite criteria as follows:

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Underwrite Price: Between 75%- 85% of Market Value

 

Underwrite Fees: 4%-5%

 

Property Type: Sections, Houses, Apartments, Town Houses and Commercial Property