Posted by David Krulac on June 06, 2000 at 12:56:51:
…to different people.
We generally mean that a buyer has a purchase contract on a tract in a subdivision that has not been finally approved yet. We generally offer our best prices 10 to 20% off retail in this stage. and in hot developments the retail prices may increase shortly after introduction.
Others use reservation as a refundable pre-contract step, just to get buyers to commit and pick a specific lot, one side benefit is that it lokks good on the subdivision map board.