The honest list, because there is one. Timeline risk: delivery dates move, and contracts are written to give developers room. Market risk: you are committing at today's price for delivery in a future market that no one can promise. Product risk: finishes and common areas are built from specifications, and the delivered reality can differ from the sales gallery.
Developer risk sits underneath all of it. A project's likelihood of being delivered as promised tracks the developer's record, financing, and construction progress. This is why buyers look at who is building, who is lending, and what the escrow provisions of the deposit actually say, before falling in love with a floor plan.
None of this makes preconstruction a bad instrument. It makes it an instrument that rewards diligence. Rangely's role is exactly that diligence: reading the project against its developer's history and its contract terms, from Miami up to Fort Lauderdale, and telling you plainly when a project does not clear the bar.