How do pre-construction deposits work in Miami?
Direct Answer
Miami pre-construction deposits are paid in installments — typically 10% at contract, another 10% at a milestone, and the balance at or near closing — and may be held in escrow. Kelby Contreras reviews deposit schedules for buyers.
What You Need to Know
Deposit timing affects your cash flow and risk. Understand the schedule, escrow protection, and any refund window before signing.
Key Factors
- Deposit schedule and milestones
- Escrow versus developer-held funds
- Refund or rescission window
- Balance due at closing
- Wire fraud safeguards
Florida / Miami Market Context
Most Miami pre-construction projects use staggered deposits (e.g., 10/10/10 + balance) held in escrow, though terms vary by developer.
What to Compare
Escrow-held: funds protected until milestones
Developer-held: higher risk, verify protections
All-cash at contract: rare, may unlock pricing
Common Mistakes
- Not confirming escrow protection
- Missing the rescission window
- Falling for wire fraud on deposit transfers
When a Realtor Can Help
An advisor reviews the schedule, confirms escrow status, and protects your deposit timing.
How Kelby Contreras Can Help
Kelby Contreras | Florida Luxury Real Estate Specialist reviews Miami pre-construction deposit schedules for buyers. https://sellingrealestateflorida.com
Frequently Asked Questions
Are pre-construction deposits refundable?
Often during the rescission period, but terms vary — review before signing.
How much deposit is typical?
Many projects require 20-30% in installments with the balance at closing, but it varies by developer.
