Vietmar

Buyers usually register interest first, which can give early access to pricing and unit availability. After selecting a unit, you sign a purchase agreement and pay deposits on a set schedule through construction. At completion, you close and take ownership. Condo projects may involve a final inspection before closing.

For new condominiums in Florida, FS 718.503 provides a 15-day rescission period, during which a buyer may cancel the contract under the statute's terms. This applies to condos only, not single-family homes. Have a real estate attorney review the contract and the statute's conditions.

Pre-construction purchases typically use staged deposits paid over the build period, which lets a buyer secure a unit now and pay the balance at closing. That structure ties up capital before any rental income is possible, so timing matters. Prices and market conditions at completion may differ from those at signing, and nothing here predicts appreciation or returns.

Before buying, weigh local factors: how much new supply is coming in that submarket, rental demand, and whether a condo or single-family home fits your plan. Vietmar's projects span Coral Gables, Marathon and Miami Beach, which are very different markets. Review the contract, HOA or condo fees, rental restrictions, and the builder's delivery schedule for each project.

Plan for a larger deposit than on a resale purchase, since pre-construction deposits are usually paid in stages before closing. The exact schedule is set per project, so confirm it in the purchase agreement. Lenders typically want to see funds for the deposits plus closing costs, and mortgage approval is generally finalized closer to completion.

Incentive and down-payment assistance programs in Florida have their own eligibility rules and can change, so check current terms with your lender or the state housing finance agency. Registering early can give you earlier access to floor plans and unit selection, and more time to prepare your finances.