Miami Pre-Construction Guide: How It Works

Buying pre-construction means putting a deposit down on a residence before the building — sometimes before a single wall — exists. In exchange for taking on that timeline risk, buyers in Miami's pre-construction market often get first pick of floor plans, views and pricing before a project is substantially sold.

The typical sequence

• Reservation. A refundable or non-refundable deposit (commonly a small percentage) holds a specific unit while the purchase contract is prepared.
• Contract & initial deposit. Signing the purchase agreement usually triggers a larger deposit — often bringing the total to around 10–20% depending on the developer.
• Construction-linked deposits. Many Miami developers collect additional deposits tied to construction milestones (groundbreaking, topping-off, etc.) rather than a fixed calendar schedule.
• Closing. The remaining balance is due at closing, once the certificate of occupancy is issued — this is typically when financing, if used, is arranged.

What varies by project

Deposit percentages, escrow requirements, assignment policies, rental restrictions and estimated delivery dates differ significantly from one Miami development to the next — there is no single standard contract. That is the core reason to compare multiple projects before committing rather than relying on a single developer's sales presentation.

See our searchable list of active Miami developments or contact Diego for the current deposit structure on any specific project.