Miami Pre-Construction Deposit Schedule
Pre-construction in Miami is paid in stages, not one down payment. Enter your price and project timeline, get the exact wire dates and cash you need ready by each year.
The standard Miami pre-construction deposit schedule is 10% at contract, 10% at groundbreaking, 10% at top-off, and 70% at closing, so 30% of the purchase price is paid before delivery. Foreign buyers often see front-loaded 30/10/10/50 terms. Under Florida Statute 718.202, the first 10% must sit in a Florida escrow account. Florida also gives buyers a 15-day rescission window during which deposits are fully refundable. Source: Florida Statute 718.202; Florida Condominium Act.
Defaults reflect the standard Miami schedule (10% contract, 10% groundbreaking, 10% top-off, 70% closing). Change the preset for aggressive or foreign-buyer terms. All calculations run in your browser. Nothing is sent to a server.
Your Purchase
Wire Schedule
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Cash Needed By Year
How Miami Pre-Construction Deposits Work
What is the standard Miami pre-construction deposit schedule?
For a solvent developer and a U.S. buyer, the standard is 10% at contract signing, 10% at groundbreaking, 10% at top-off (when the building reaches its final height), and 70% at closing. Total cash in before closing is 30% of the purchase price. Closing is typically 24 to 48 months after contract depending on where the project is at the time of your purchase.
Why are some schedules front-loaded at 20/10/10/60 or 30/10/10/50?
Front-loaded schedules are used for foreign buyers (no U.S. credit profile), projects at the reservation phase before the developer has secured construction financing, or buildings that require higher equity to de-risk delivery. A 30/10/10/50 schedule means 50% of the purchase price is in escrow before a shovel hits the ground.
Are deposits refundable?
Florida gives buyers a 15-day rescission period during which deposits are fully refundable. After day 15, deposits are non-refundable except in specific contractual contingencies (developer fails to start construction by a deadline, material change to the declaration, etc). Walking away after rescission generally means forfeiting every dollar paid.
Are deposits held in escrow?
Under Florida Statute 718.202, the first 10% of the purchase price must be held in a Florida escrow account. Developers can request to release deposits above 10% as working capital if the contract allows. Many buyers negotiate to keep all deposits in escrow through construction. The escrow agent is disclosed in the purchase agreement.
Do deposits earn interest for the buyer?
Most Florida developer contracts assign any escrow interest to the developer. A small number of recent launches have begun offering interest credits on held deposits as a sales incentive. Check Schedule A of the purchase agreement for the interest-assignment clause.
Can I negotiate the deposit schedule?
Sometimes. Early in the sales cycle at launch, developers occasionally flex on schedule to close the first 20% of sales. At the back end of a sellout on remaining inventory, developers may also offer extended terms to move specific floor plans. At popular launches in the middle of the sales cycle, schedules are rarely negotiable.