All checklists Keyword: PRECONSTRUCTION
How the deposit schedule actually works
In preconstruction you don’t pay it all at signing. You pay in stages, and the contract runs the show.
Investing · 13 points
Who it’s for
For anyone weighing a new development in Miami.
What’s on the list
- 1
In preconstruction you pay in stages, exactly the way your purchase agreement with the developer spells it out. None of this is an industry standard.
- 2
Reservation: the first deposit. Usually refundable up to a point — read that clause word by word.
- 3
Signed contract: a second deposit on a fixed date, usually a few days after you sign.
10 more points to go
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This checklist is general educational information for South Florida and is not legal, tax, insurance or financial advice. Official figures are printed with their source; always verify them for your own situation with your attorney, accountant and lender. Jordan Padierne, Realtor — eXp Realty.
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