Sotavento Residences

by Fran @, Evanston, IL, Thursday, April 14, 2011, 13:35 (4095 days ago) @ davej

> Issues:
[quote]About a year ago I was told 69 units had been sold, recently I got an email implying less than 69 units were sold.

We looked at the model and got the sales talk. I think there is a lot that's quite attractive about the development but as far as the "sold" number goes, we didn't put much confidence in it.

I think that there is an issue in how one defines "sold". They consider a unit sold when the buyer gives them the $5000 refundable deposit. Refundable being the operative word. It didn't seem to me that a $5000 refundable deposit was really an accurate descriptor of sales.

Personally, the number I want to hear about is the number of closings. Anyone who has ever bought a house knows there is a long way between a refundable deposit and closing.

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