Buying in a project that has not been built is a different transaction from buying a finished residence. The contract is the developer’s, the deposit schedule is staged, and the timeline is an estimate governed by the contract rather than a commitment.
Deposit schedules
South Florida developers typically stage deposits across reservation, contract, and construction milestones. Read where each instalment sits and what triggers it. Understand which portion is held in escrow and which the developer is permitted to use for construction, because that distinction determines your exposure.
Delivery dates
A projected completion date in marketing material is not the date in the purchase agreement. The contract will define an outside date and the remedies available if it passes. Those provisions, not the brochure, are what matter.
Finishes and substitutions
Most developer agreements permit substitution of specified materials for items of comparable quality. Ask what has already changed since the project launched — the answer is informative about how the developer operates.
The rescission period
Florida provides a statutory period during which a buyer may cancel a condominium purchase contract after receiving the required documents. Use it to have counsel read the agreement in full.
Portfolio Miami does not publish availability or pricing for projects we have not verified with the developer. Where you see a development on this site without specifications, that is why. This article is general information and not legal advice.