What each payment means, how much capital you need before closing, and how to compare two Miami projects using their official schedules.
In pre-construction you don't pay everything the day you sign. You pay in stages as the building rises, and the large balance comes at closing. That schedule is the first thing I review with every investor, because it defines how much capital you need, when, and how comfortable you'll be while the building goes up.
The three parts of any schedule
- The initial deposit, at contract. It's the commitment that reserves your unit.
- Deposits during construction, tied to milestones (groundbreaking, months of construction, top off) or to dates.
- The balance at closing, paid when the building is finished and you receive the deed, in cash or with financing.
Example 1: Domus Brickell Center
According to the developer's official schedule, the plan is 10% at contract, 10% at groundbreaking, 5% at 2 months, 5% at 4 months, 5% at 6 months and 65% at closing. That adds up to 35% during construction, spread over five payments.
Example 2: NoBe Parc (Miami Beach)
NoBe Parc's official structure is 20% at contract, 10% at groundbreaking, 10% at top off and 60% at closing. Here 40% is paid before completion, but in only three payments, with a higher first deposit.
How to compare them
- Add up what you pay before closing: that's the capital tied up during construction.
- Check when the first large payment lands: a 20% initial deposit needs more liquidity today than 10%.
- Plan the closing from day one: if you'll finance, start preparing early.
- Always confirm the current version: schedules change between sales phases.
No schedule is better than another; one fits your capital flow. That's why, before talking about projects, I like to look at your numbers.
