Multiplan Real Estate Asset Management (REAM)

Buying pre-construction usually starts with registering interest, which may give first access to a release. After you select a unit, you sign a purchase contract and pay deposits in stages on a schedule set out in that contract. Closing happens once the building is completed and the unit is ready for transfer, with the balance due then.

For new condos in Florida, buyers have a 15-day rescission period under FS 718.503. This applies to condos only. Review the contract and condominium documents carefully, ideally with a real estate attorney, within that window.

Pre-construction condos are typically purchased with staged deposits paid over the build period, which lets a buyer secure a unit at today's contract price while closing comes later. That structure ties up capital before any occupancy, and the unit's value at completion may differ from the contract price.

When evaluating REAM's projects, consider the local factors: how much competing condo supply exists in Miami, Miami Beach and Surfside, how quickly comparable units are selling or renting, the likely rental demand in each area, and the unit type. Also review the deposit schedule, HOA and maintenance fees, any rental restrictions in the condo documents, and the expected completion timeline. Nothing here is a prediction of appreciation or returns.

First-time buyers should plan for deposits paid in stages during construction, in addition to closing costs at completion. The exact deposit percentages vary by project, so confirm them in the developer's contract and budget accordingly.

Incentives and rebates for first-time buyers in Florida are generally limited and often depend on income, price caps and lender eligibility, so check current program terms with a lender or housing agency. Registering early can be useful because it may give access to initial pricing, floor plan selection and release information before units are widely marketed.