presold

1. Of, relating to, or being a new security issue that is sold out before all the specifics of the issue have been announced. In the case of a bond issue, this term usually means that sufficient orders for the issue have been placed before announcement of the coupon rate(s).
2. Describing dwellings that a developer has sold prior to construction. For example, half of a proposed condominium's units may be presold prior to the beginning of construction.