Question 1

What is pre-construction real estate?

Accepted Answer

Pre-construction means buying a condo or home before it's built. You purchase at today's pricing, typically 15-30% below what the property will be worth at completion.

Question 2

How does the deposit structure work for Miami pre-construction?

Accepted Answer

Most Miami developers require 20-30% total deposit, spread across 2-3 years during construction. A typical structure: 10% at contract, 10% at groundbreaking, and 10% at top-off.

Question 3

Can I sell my pre-construction unit before completion?

Accepted Answer

Yes, this is called an assignment. Many developers allow assignments after a certain milestone (usually 50-80% construction). This lets investors profit from appreciation without ever closing.

Question 4

Do I need a real estate agent for pre-construction in Miami?

Accepted Answer

Absolutely. The developer pays your agent's commission, so it costs you nothing. An experienced agent negotiates better pricing, ensures favorable contract terms, and provides access to pre-launch pricing.

Question 5

Can foreign buyers purchase pre-construction in Miami?

Accepted Answer

Yes! Miami is one of the most international real estate markets in the world. Foreign buyers can purchase pre-construction with no restrictions. Many developers offer financing options for international clients.

The Ocean Residences - Conrad

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