Thinking about securing a pre-construction condo in Brickell but not sure when your cash is actually due? You are not alone. The deposit schedule can feel complex, especially if you are an international or high-net-worth buyer planning across currencies and portfolios. In this guide, you will learn how deposit schedules work in Brickell, what is typical, and how to plan liquidity so every draw is simple and stress-free. Let’s dive in.
Deposit schedule basics
A deposit schedule is the sequence of payments you make from reservation through construction, with the final balance due at closing. It is separate from mortgage financing, which usually funds only at closing. Developers use deposits to finance land, permitting, and early construction while sharing risk with buyers. You use them to secure your unit and spread payments over time instead of paying the full price upfront.
In Brickell’s luxury segment, deposit schedules tend to be larger and more front weighted than lower priced markets. That reflects higher project costs, international buyer profiles, and the financing needs of top-tier towers.
Typical Brickell structure
While every project and developer is different, most Brickell luxury condo schedules follow four stages. Your purchase and sale agreement controls the exact terms.
1) Reservation deposit
The reservation holds your unit while documents are prepared or you complete initial diligence. In Brickell luxury projects, this is often 10,000 to 250,000 dollars, with higher amounts for ultra premium units. It is usually credited toward your contract deposit and may be refundable only up to a stated deadline.
2) Contract deposit
You pay a larger deposit when you sign the purchase and sale agreement. In many Miami luxury projects, 5 percent to 20 percent at contract is common, with 10 percent a frequent benchmark. After any review windows lapse, refundability typically narrows based on the contract language.
3) Construction progress deposits
Pre-closing installments are collected over time or at construction milestones. In Brickell, you will often see one of these patterns:
- About 30 percent total before closing. Example schedule: 10 percent at contract, then two or three more draws of 5 percent to 10 percent over 18 to 36 months.
- Up to 50 percent total before closing for ultra luxury or boutique projects that require stronger buyer equity.
- Promotional models with 10 percent to 20 percent total before closing on select offerings.
Payments can be triggered by time, construction milestones like foundation or top off, or simple calendar dates. Your agreement will specify exact amounts and dates.
4) Balance at closing
You pay the remaining balance at closing, often with a mortgage or cash. Lenders typically fund at closing only, so every pre-closing deposit must come from your own liquidity or a separate credit facility.
What is common in Brickell
Luxury Brickell projects most often collect a total of 20 percent to 40 percent before closing, though real variation exists. Some promotional offerings may be lower, and ultra premium launches can require up to about 50 percent. Because schedules differ, request the exact written schedule, including any rights to accelerate draws if timelines change.
Refundability and escrow
Deposits are often held in escrow, typically with a title company or attorney trust account specified in the contract. Refund rights depend on your agreement. Many buyers receive a short review period to examine condominium documents, disclosures, and plans. After contingencies are waived, deposits often become non refundable per the contract.
Ask for clarity on:
- Where deposits are held and who the escrow agent is.
- The deadlines and conditions for refunds.
- When and how escrow funds can be released to the developer.
Delays, default, and assignments
Construction can face delays. Most agreements allow the developer to extend timelines rather than automatically refund deposits. Look for clauses that define credits, interest, or termination rights in case of material delays. If a developer default or insolvency occurs, remedies depend on escrow protections and contract terms. Many buyers also ask about assignment rights. Some developers allow assignments with fees or conditions, while others restrict them.
Financing realities
Pre-construction deposits are typically paid from cash or liquid assets. Traditional mortgage lenders generally fund only at closing. Some private banks or wealth offices may offer credit facilities for deposits, but these are less common and carry interest and collateral requirements. If you plan to finance the final balance, start lender conversations early and expect documentation requests about liquidity and source of funds.
Build your cash flow roadmap
To avoid surprises, map your deposit obligations from day one:
- Tally every pre-closing payment. Add the reservation, contract deposit, and each scheduled draw to understand total exposure.
- Get the schedule in writing. Confirm dates, triggers, and any acceleration rights.
- Add a liquidity buffer. Many buyers hold an extra 5 percent to 10 percent of the purchase price or at least the size of the next draw as a contingency reserve.
- Align maturities. Use a simple ladder of money market funds or short term T bills so cash is available right before each draw.
Illustrative examples
Below are simple, illustrative examples for planning. Your actual terms depend on your project and agreement.
Example A, moderate deposits totaling 30 percent before closing:
- Purchase price: 2,500,000 dollars
- Reservation: 50,000 dollars
- At contract: 10 percent equals 250,000 dollars, crediting the reservation
- 12 months: 10 percent equals 250,000 dollars
- 24 months: 10 percent equals 250,000 dollars
- Balance at closing: 1,450,000 dollars
- Total cash before closing: about 800,000 dollars including the reservation
Example B, heavier deposits totaling 50 percent before closing:
- Purchase price: 5,000,000 dollars
- Total pre-closing deposits: about 2,500,000 dollars in stages
- Balance at closing: about 2,500,000 dollars
Liquidity strategies
Keep deposit funds liquid and accessible.
- Use USD bank accounts, money market funds, or short duration T bills.
- Ladder maturities so cash arrives just before each draw while still earning yield.
- Avoid long lockups that trigger penalties if you need funds early.
- If considering a bridge facility, weigh interest cost and collateral requirements, and confirm that your lender allows deposit use.
International buyer playbook
If you are wiring funds from abroad, build more lead time into your plan.
- Start bank compliance and anti-money laundering reviews early, especially for larger transfers.
- Pre fund a U.S. dollar account to reduce currency timing risk and avoid last minute FX pressure.
- Discuss currency hedging if exchange rates are material to your returns.
- Coordinate entity structuring with tax advisors to manage U.S. reporting, estate exposure, and potential rental income considerations.
Risk controls to consider
You can reduce transaction risk with a few targeted protections.
- Negotiate clear refund triggers tied to your document review periods.
- Request third party escrow and defined conditions for fund releases.
- Seek a contractual remedy for excessive delay, such as limited occupancy delay credits.
- Understand assignment policies, transfer fees, and any withholding or tax considerations.
Quick buyer checklist
Use this list to organize your next steps.
Documents to obtain:
- Full written deposit schedule with dates, amounts, and triggers
- Escrow agent details and escrow instructions
- Condominium prospectus, declaration, and budget
- Construction timeline and project financing overview, if available
- Proof of funds and source documentation
Key questions to ask:
- What is refundable and for how long
- Where deposits are held and when they can be released
- Whether the developer can accelerate scheduled payments
- Assignment rules, fees, and required approvals
- Any incentives or credits and the conditions to receive them
Advisors to engage early:
- Florida real estate attorney experienced in new-construction condos
- Tax advisor with cross border expertise if you are international
- Lender or private bank for closing finance and deposit implications
- Title company or escrow agent to confirm handling
- Wealth manager for liquidity and currency planning
Why Brickell buyers choose a specialist
Pre-construction in Brickell rewards early access and meticulous planning. An advisory team that lives and works in the submarket can secure allocation windows, organize your schedule of deposits, and coordinate escrow, entity, and financing steps so you can focus on selection and timing. If you value discretion, clean execution, and investor grade guidance from reservation to delivery, our family-led team is here to help.
Ready to map your deposit schedule and secure the right allocation with confidence? Connect with the JJABREU Group to Schedule a Private Consultation.
FAQs
How do Brickell pre-construction deposit stages work?
- Most schedules include a reservation deposit, a contract deposit when you sign, progress draws during construction, and the balance at closing.
How much do I pay before closing in Brickell?
- Many luxury projects collect 20 percent to 40 percent before closing, with some lower promotional models and some as high as about 50 percent.
Are reservation and contract deposits refundable?
- Refundability depends on your agreement and timelines; deposits are often refundable during a short review period and then become non refundable.
Can I finance pre-closing deposits with a mortgage?
- Traditional mortgages usually fund only at closing, so deposits are typically paid from cash or a separate credit facility if available.
Where are deposits held for Brickell condos?
- Deposits are commonly held in escrow by a title company or attorney trust account named in your contract, with release conditions defined.
What if construction is delayed by the developer?
- Agreements often allow timeline extensions instead of refunds; look for defined credits, interest, or termination rights for material delays.
Can I assign my pre-construction contract before closing?
- Many developers allow assignments with restrictions or fees; policies and requirements vary by project and must be confirmed in writing.
How should international buyers plan wires and FX?
- Start compliance checks early, pre fund USD accounts when possible, and consider currency hedging if exchange rate moves could affect your budget.
