Miami Preconstruction Deposit Calculator
See the full cash schedule on a new Miami tower before you sign the reservation.
What This Calculator Does
Breaks a preconstruction purchase into the milestone payments the developer will call for and shows the dollar amount and the running total at each one. Instead of a single deposit figure you get a timeline of when money actually leaves your account between contract and closing.
Who Is This For
Buyers considering a new Miami tower, international purchasers who need to plan currency transfers around each milestone, and investors judging whether their capital is better deployed here or elsewhere while the building goes up.
How It Works
Enter the purchase price and the percentage due at each milestone from the developer's contract. The calculator shows each payment, the cumulative amount committed before closing, and the balance due at delivery.
Frequently Asked Questions
What does a typical deposit schedule look like?
A common Miami structure is 10% at contract, another 10% at groundbreaking, a further 10% at top-off, and the balance at closing. Schedules vary by developer and by building, and some add an extra milestone or shift the percentages, so always work from the contract in front of you rather than from a rule of thumb.
Why is so much due before closing?
Developers use buyer deposits to fund construction, so Miami towers commonly require 30% to 50% of the price before delivery — far more than the 10% typical of a resale contract, and far more than most preconstruction markets outside Florida.
Where is my deposit held?
In escrow, under the terms your purchase agreement and Florida law set out. Some deposits stay in a segregated escrow account and some may be released to the developer for construction once conditions are met. The agreement states which rule applies to each installment, and it is one of the first things to read.
Can I get my deposit back?
It depends on the contract. Preconstruction agreements are drafted by the developer and generally give the buyer limited exit rights once the statutory rescission window closes. Have a Florida real estate attorney review the agreement before your first payment, not after the third.
Do I need mortgage approval now?
Not at contract, but you will at delivery, and delivery can be years away. Rates, your income, and the building's lender approval status can all change in the meantime. Plan for the possibility that the loan you qualify for at closing is not the loan you assumed at signing.
What costs come on top of the deposits?
Closing costs on a new tower are typically heavier than on a resale and often include developer fees and buyer-paid documentary stamps. Florida documentary stamp tax on the deed runs $0.70 per $100 of price statewide, while Miami-Dade charges $0.60 per $100 plus a $0.45 surtax on properties that are not single-family. Ask for a written closing cost estimate before you sign.