Buying pre-construction

Section 718.503(1) requires a developer contract to state, in capitals, that it is voidable by the buyer with written notice within 15 days of signing and receiving all the documents the law requires, and within 15 days of receiving an amendment that changes the offering against the buyer. The text adds that any purported waiver of those rights has no effect. So in pre-construction, the first 15 days are for reading, not celebrating.

Section 718.202 requires that, when construction is not substantially complete, the developer place all of the buyer's payments up to 10% of the price in escrow. Anything above that 10% goes into a special account and can only be used for construction if the contract allows it and says so in bold next to your signature: “any payment in excess of 10 percent of the purchase price... may be used for construction purposes.” Look for that sentence before you sign.

MIAMI REALTORS® reported that international buyers took 49% of new construction, pre-construction and condo conversion sales in South Florida in the 18 months ending July 2025, and its November 2025 report counted buyers from 73 countries. Those sales don't appear in the MLS, so pre-construction prices are compared differently. Carolina tells you what happened with similar projects before you reserve.