There are lenders who will lend without pre-sales.
The interest is higher but negligible in some cases.
Put and call options can be very messy and the lender will scrutinize these with a fine tooth comb, and the hard part is finding willing participants.
Another angle would be to get a Mezzanine funder involved to cover the deposit shortfall.
They may take a JV or equity/profit position with you depending on the deal.
Just a thought.
Presales are required generally for the bigger banks at about 60% which would be 6 of the 10 units.
I have to rush out but hope this helps
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