Redmond New Construction Presales: A Clear Buyer Guide

Buying a new home off-plan can feel exciting and a little opaque. If you are eyeing Redmond’s Marymoor Village or Overlake projects, you are seeing a lot of buzz and many moving parts. You want clarity on timelines, deposits, selections, and how a presale compares to a quick-move-in home. This guide breaks it all down so you can move forward with confidence. Let’s dive in.

Why presales are active in Redmond

Redmond sits in a high-demand corridor shaped by major employers and transit access. New townhomes, condos, and mixed-use phases concentrate around Overlake and the Marymoor area, where station-area planning and infrastructure improvements guide where and when builders bring units to market. Many communities release in phases over several years, which creates a steady flow of early presale opportunities followed by quick-move-in inventory later.

City approvals, environmental review, and site and utility work can add months before vertical construction starts. Builders often communicate conservative dates and reserve the right to adjust schedules. That is normal for large, phased developments.

How the presale process works

From announcement to reservation

Projects typically open with marketing, model tours, and a price list. You can reserve a specific home or lot with a small reservation deposit and a short hold window while you review documents. Some reservations are refundable in limited circumstances, but terms vary by project.

Contract and earnest money

Your commitment happens when you sign the Purchase and Sale agreement. New-construction contracts are builder-issued and more developer-friendly than standard resale forms. Expect firm deadlines for selections, change orders, and any contingency removals.

Once you sign, you will submit earnest money held by the title or escrow company per Washington practice. Amounts vary by builder and product and can range from the low thousands up to 5–10 percent.

Design and selections

After contract, you enter a design window to choose finish packages and options. Selection periods are typically 30–90 days to keep orders on schedule. Base allowances cover standard finishes; upgrades add cost. After deadlines, change orders are limited, more expensive, and can delay completion.

What to expect on timing

Typical timelines in Redmond

Timing depends on product type and phase timing within the community:

• Single detached homes on individual lots: commonly 6–12 months from permit issuance to completion.
• Townhomes or low-rise condos: commonly 12–24 months from vertical start to completion.
• Large mixed-use phases: 18–36 months or longer, depending on when you buy relative to the phase.

For many Redmond presales, a 12–24 month horizon is common for townhome and condo phases.

What can extend schedules

Schedules can shift due to permit reviews, grading and utility coordination, labor or material shortages, supply chain issues, weather, and market-driven phasing. In Redmond, infrastructure and City review steps are frequent causes of timeline adjustments. Plan with a margin of safety.

Communication and milestones

Builders provide projected dates and key milestones like framing, rough-ins, and finishes. Ask for a milestone schedule and how updates will be shared. Confirm how delays are handled and what happens if timelines move.

Your protections in Washington

Contingencies to confirm

Not all builder contracts include a standard financing contingency. If you need one, negotiate explicit language and timing and confirm your lender’s cooperation. Many builders limit sale-of-home contingencies. You should also confirm appraisal and inspection rights and the process for any required approvals.

Inspections and walk-throughs

Builders commonly allow third-party inspections at specific points such as pre-drywall and at final. You will complete a final walk-through and create a punch list before closing. For condos and townhomes, request available common-area reports and any draft reserve study materials.

Warranties and after closing

Most new homes include a 1-2-10 warranty structure: one year for workmanship and materials, two years for systems like mechanical and plumbing, and 10 years for structural components. Many are administered by a third-party warranty provider. Get the warranty in writing and understand what is covered, what is excluded, how to file claims, and whether the warranty transfers if you sell.

Presale vs quick-move-in in Redmond

Presale advantages:

• More choice early on: plan, elevation, orientation, and finishes.
• Potential access to early-buyer pricing or preferred lot selection in phased releases.
• Time to plan your move and finances around projected completion.

Presale tradeoffs:

• Longer wait with exposure to market and interest-rate changes.
• Appraisal risk if few new comps exist nearby.
• Limited inspection timing and stricter contract timelines.

Quick-move-in advantages:

• Faster occupancy, often within days or weeks.
• You can walk the finished home and verify workmanship and finishes.
• Builders may offer incentives like closing cost credits or rate buydowns to move completed inventory.

Quick-move-in tradeoffs:

• Fewer customization options since finishes are already installed.
• List prices can be higher on fully spec’d models, though incentives may offset.

Pricing, lending, and appraisal notes

Presales are often priced from pro forma assumptions and pre-construction price lists, with potential increases in later phases. Appraisers rely on comparable sales, which can be limited for brand-new product in emerging nodes, so appraisal risk can be higher. You should talk with your lender about appraisal approach and confirm contingency language.

Lenders may offer long-term rate locks with conditions or rate protection options. Many buyers secure pre-approval early and complete final approval near closing. Quick-move-in homes benefit from recent comps and may reduce appraisal uncertainty. Builders frequently offer incentives on completed inventory, while presales may feature early-release perks rather than large concessions.

HOA, recording, and occupancy

In condo and townhome communities, review CC&Rs, declarations, maps, and HOA budgets as early as possible. In phased projects, drafts may change before final recording. Confirm when documents will be finalized, when utilities and amenities will be available, and how any interim management will work. Closing will include title insurance and recording in King County.

Buyer checklist for Redmond presales

• Full Purchase and Sale agreement and builder addenda reviewed before signing.
• Reservation terms: deposit amount, refundability, and deadline to execute contract.
• Construction schedule with milestone dates and the builder’s rights to adjust.
• Financing contingency language, lender compatibility, and pre-approval plan.
• Inspection rights and timing for pre-drywall and final walk-through.
• Warranty documents: coverage, exclusions, claim steps, and transferability.
• HOA and CC&R drafts, plus plan and timing for recording and amenity access.
• List of included items, allowances, upgrade pricing, and change-order rules.
• Contacts for sales, construction manager, escrow or title, and warranty admin.
• Escrow instructions for deposit handling and closing funds.

How we help at Foundation First Group

You deserve a clear plan from reservation to closing. Our Eastside-focused team pairs local development know-how with new-construction sales expertise to help you choose the right phase and lot, negotiate key protections, align lender and appraisal strategy, and keep milestones on track. We coordinate with the builder’s team, escrow, and your lender so you can focus on the big decisions, not the busywork.

If you are weighing presale versus quick-move-in in Marymoor Village or Overlake, we will outline your timeline and budget options side by side and help you move at the right moment.

Ready to compare current Redmond opportunities and create a purchase plan that fits your goals? Connect with a principal at Foundation First Group.

FAQs

How long does a Redmond presale take from signing to move-in?

• Expect roughly 6–36 months depending on product and phase, with 12–24 months common for townhome and condo phases in larger Redmond communities.

How much deposit is typical and is it refundable in Washington?

• Reservation deposits are usually smaller and sometimes refundable; once you sign the Purchase and Sale, earnest money is due and refund rules depend on your contract and contingency terms.

Can I lock a mortgage rate for a long presale timeline?

• Some lenders offer extended locks or rate protection with conditions; secure pre-approval now and confirm when final approval and any lock decisions must be made relative to completion.

What inspections can I do on a new-construction presale?

• Builders often allow third-party inspections at set points such as pre-drywall and final; confirm access timing, how punch-list items are handled, and any rules for inspectors on site.

How do presales compare to quick-move-in homes in Redmond?

• Choose presale for customization and early selection; choose quick-move-in for speed, the ability to verify the finished product, and potential incentives on completed inventory.

What documents should I review before committing to a presale?

• Review the Purchase and Sale, all builder addenda, warranty terms, HOA and CC&R drafts, milestone schedules, inspection rights, allowance and upgrade sheets, and escrow instructions.