{"id":4057,"date":"2026-08-04T01:25:28","date_gmt":"2026-08-04T05:25:28","guid":{"rendered":"https:\/\/preconstruction.info\/blog\/miami-preconstruction-deposit-schedule-contract-closing-timeline\/"},"modified":"2026-08-04T01:52:33","modified_gmt":"2026-08-04T05:52:33","slug":"miami-preconstruction-deposit-schedule-contract-closing-timeline","status":"publish","type":"post","link":"https:\/\/preconstruction.info\/blog\/miami-preconstruction-deposit-schedule-contract-closing-timeline\/","title":{"rendered":"Miami Preconstruction Deposits, Contracts &#038; Closing Timeline"},"content":{"rendered":"<p>A Miami preconstruction purchase usually has several decision points between the first reservation and the final closing. The exact deposit percentages and dates are project-specific, but the buyer\u2019s verification process should remain consistent: identify who receives the money, read the current contract and condominium documents, track every notice and preserve enough liquidity for closing.<\/p>\n<p>Florida law and the project contract control the transaction. This guide is an educational timeline that helps you organize questions for a Florida real-estate lawyer, accountant and lender; it is not a substitute for their advice.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/preconstruction.info\/blog\/miami-preconstruction-deposit-schedule-contract-closing-timeline\/#1_Reservation_or_initial_offer\" >1. Reservation or initial offer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/preconstruction.info\/blog\/miami-preconstruction-deposit-schedule-contract-closing-timeline\/#2_Contract_and_disclosure_review\" >2. Contract and disclosure review<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/preconstruction.info\/blog\/miami-preconstruction-deposit-schedule-contract-closing-timeline\/#3_Deposits_and_escrow\" >3. Deposits and escrow<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/preconstruction.info\/blog\/miami-preconstruction-deposit-schedule-contract-closing-timeline\/#Questions_to_document_for_each_payment\" >Questions to document for each payment<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/preconstruction.info\/blog\/miami-preconstruction-deposit-schedule-contract-closing-timeline\/#4_Construction_and_project_updates\" >4. Construction and project updates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/preconstruction.info\/blog\/miami-preconstruction-deposit-schedule-contract-closing-timeline\/#5_Financing_entity_and_residency_planning\" >5. Financing, entity and residency planning<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/preconstruction.info\/blog\/miami-preconstruction-deposit-schedule-contract-closing-timeline\/#6_Pre-closing_inspection_and_documents\" >6. Pre-closing inspection and documents<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/preconstruction.info\/blog\/miami-preconstruction-deposit-schedule-contract-closing-timeline\/#7_Closing_and_post-closing_setup\" >7. Closing and post-closing setup<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/preconstruction.info\/blog\/miami-preconstruction-deposit-schedule-contract-closing-timeline\/#Compare_current_projects_with_the_timeline_in_mind\" >Compare current projects with the timeline in mind<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"1_Reservation_or_initial_offer\"><\/span>1. Reservation or initial offer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A sales team may use a reservation form or initial deposit before the full contract is executed. Ask whether the reservation is binding, where the funds are held, when the full contract will be delivered and what happens if you do not proceed. Do not assume a marketing summary contains every material term.<\/p>\n<p>Before sending funds, confirm the wire instructions independently using a trusted phone number. Real-estate wire fraud can involve convincing messages that imitate legitimate parties. Your lawyer or closing professional can tell you the verification procedure they require.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"2_Contract_and_disclosure_review\"><\/span>2. Contract and disclosure review<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The contract should identify the legal seller or developer entity, the unit, purchase price, deposits, escrow arrangements, completion provisions, default remedies and closing process. The condominium documents may include the declaration, articles, bylaws, prospectus or offering circular, budget and exhibits.<\/p>\n<p>The Florida Department of Business and Professional Regulation states in its <a href=\"https:\/\/www2.myfloridalicense.com\/condominiums-and-cooperatives\/faqs\/\" rel=\"noopener\" target=\"_blank\">condominium filing FAQ<\/a> that required filings include the declaration, association articles, bylaws and prospectus or offering circular. Its <a href=\"https:\/\/www2.myfloridalicense.com\/lsc\/documents\/purchasing_guide.pdf\" rel=\"noopener\" target=\"_blank\">official condominium purchasing guide<\/a> is a useful starting point. Ask your lawyer which review or cancellation provisions apply to your specific contract and whether deadlines begin on receipt of documents.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"3_Deposits_and_escrow\"><\/span>3. Deposits and escrow<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A developer\u2019s advertised schedule may divide deposits among contract signing, construction milestones and a later date. Never transfer a \u201ctypical\u201d schedule from one project to another. Use the executed contract and written escrow instructions for the amount, due date, recipient and consequence of a late payment.<\/p>\n<p><a href=\"https:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0700-0799\/0718\/Sections\/0718.202.html\" rel=\"noopener\" target=\"_blank\">Florida Statute 718.202<\/a> addresses sales or reservation deposits before closing for condominium parcels and describes escrow requirements, including treatment of payments up to ten percent of the sale price in covered circumstances. The statute contains detail and exceptions; it should be interpreted for your transaction by a Florida lawyer.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Questions_to_document_for_each_payment\"><\/span>Questions to document for each payment<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>What exact contract provision makes this installment due?<\/li>\n<li>Who is the escrow agent, and how have the instructions been verified?<\/li>\n<li>Is the payment refundable, conditionally refundable or non-refundable under the contract?<\/li>\n<li>What notice is required before a milestone payment?<\/li>\n<li>Does the contract permit assignment, and does an assignment change deposit obligations?<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"4_Construction_and_project_updates\"><\/span>4. Construction and project updates<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>During construction, preserve all amendments, notices, receipts and statements in one transaction file. Compare updates against public permit information when useful. Miami-Dade County provides official access to <a href=\"https:\/\/www.miamidade.gov\/global\/service.page?Mduid_service=ser149695713973833\" rel=\"noopener\" target=\"_blank\">permit history, plans and certificate searches<\/a>, although projects inside individual municipalities may use that municipality\u2019s building department.<\/p>\n<p>An estimated delivery season is not the same as a guaranteed closing date. Ask which contract section governs extensions and notice, and keep your lender and tax adviser informed if timing changes.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"5_Financing_entity_and_residency_planning\"><\/span>5. Financing, entity and residency planning<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Start financing and ownership-structure discussions early. A lender may treat a condo-hotel, flexible-use or building with a high investor concentration differently from a conventional condominium. A foreign buyer may also need additional identity, banking and tax documentation. Do not create an entity or transfer contract rights solely from a marketing recommendation; obtain legal and tax advice that considers both the United States and your home jurisdiction.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"6_Pre-closing_inspection_and_documents\"><\/span>6. Pre-closing inspection and documents<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Before closing, confirm the inspection or walk-through procedure, punch-list process, available warranties, final unit designation and any changes disclosed by the developer. Review the final closing statement and wiring instructions with your professionals. Reconcile deposits already paid and ask about association contributions, transfer or document fees, title-related charges, lender costs and required insurance.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"7_Closing_and_post-closing_setup\"><\/span>7. Closing and post-closing setup<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>At closing, ownership documents and funds are completed according to the contract and applicable law. Afterwards, retain the recorded deed and closing package, establish association and utility accounts, confirm insurance and homestead questions where relevant, and document any unresolved punch-list items.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Compare_current_projects_with_the_timeline_in_mind\"><\/span>Compare current projects with the timeline in mind<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Use the dedicated pages for <a href=\"https:\/\/preconstruction.info\/miami\/brickell\">Brickell<\/a>, <a href=\"https:\/\/preconstruction.info\/miami\/edgewater\">Edgewater<\/a>, <a href=\"https:\/\/preconstruction.info\/miami\/wynwood\">Wynwood<\/a> and <a href=\"https:\/\/preconstruction.info\/miami\/downtown-miami\">Downtown Miami<\/a> to create a shortlist. Then request each project\u2019s current documents and complete the same timeline review. Our broader <a href=\"https:\/\/preconstruction.info\/blog\/miami-new-developments-2026-neighborhood-guide\/\">Miami new-development guide<\/a> explains how product types differ across neighborhoods.<\/p>\n<p><em>Last reviewed August 2026. General information only; not legal, tax, accounting, financing or investment advice. Contract terms vary and government sources may change.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A practical, source-based guide to Miami preconstruction deposits, contract review, construction updates and closing preparation.<\/p>\n","protected":false},"author":1,"featured_media":4073,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[1553,1552,1554,1548],"class_list":["post-4057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-miami-real-estate-market","tag-condo-contract","tag-deposit-schedule","tag-miami-condo-closing","tag-miami-preconstruction"],"_links":{"self":[{"href":"https:\/\/preconstruction.info\/blog\/wp-json\/wp\/v2\/posts\/4057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/preconstruction.info\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/preconstruction.info\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/preconstruction.info\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/preconstruction.info\/blog\/wp-json\/wp\/v2\/comments?post=4057"}],"version-history":[{"count":1,"href":"https:\/\/preconstruction.info\/blog\/wp-json\/wp\/v2\/posts\/4057\/revisions"}],"predecessor-version":[{"id":4062,"href":"https:\/\/preconstruction.info\/blog\/wp-json\/wp\/v2\/posts\/4057\/revisions\/4062"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/preconstruction.info\/blog\/wp-json\/wp\/v2\/media\/4073"}],"wp:attachment":[{"href":"https:\/\/preconstruction.info\/blog\/wp-json\/wp\/v2\/media?parent=4057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/preconstruction.info\/blog\/wp-json\/wp\/v2\/categories?post=4057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/preconstruction.info\/blog\/wp-json\/wp\/v2\/tags?post=4057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}