North Development

Buyers typically register interest first, which can give early access to availability and pricing. After selecting a unit, you sign a purchase contract and pay deposits in stages. At completion you close and take ownership. Some projects may have different occupancy and closing steps, so review each contract.

In Florida, buyers of new condominiums have a 15-day rescission period under FS 718.503. This applies to condos only. Have a real estate attorney review the contract and disclosure documents within that window.

Pre-construction condos generally let a buyer secure a unit with a staged deposit and pay the balance at closing, which can be well after contract signing. That spreads out the capital commitment, but it also means the buyer carries market and timing risk until completion. Nothing here should be read as a prediction of appreciation or returns.

For North Development's Brickell projects, things to evaluate include how many comparable condos and condo/hotel units are being delivered nearby, likely rental demand, and how a hotel component might affect use, rental options and fees. Read the offering documents closely for rental restrictions, HOA or condo fees, and the deposit schedule before committing.

First-time buyers should expect pre-construction condo deposits to be larger and more staggered than on a resale home, and the amounts vary by project. Confirm the full deposit schedule and when each payment is due before you sign. Ask your lender early about how financing works for a unit that isn't built yet.

Incentive programs for first-time buyers vary and may not apply to every new condo, so verify eligibility directly rather than assuming. Registering early can give you earlier access to floor plans and availability as a project launches, though it does not obligate you to buy.