You hear a lot about the views, the amenities, and the brand names in Brickell. What you do not hear as often is how the deposit schedule shapes your cash flow, risk, and timeline from day one. If you want a pre-construction condo here, the way you pay in stages matters as much as the unit you choose. In this guide, you will learn what typical schedules look like, how escrow works, what risks to plan for, and how to negotiate terms that fit your goals. Let’s dive in.
Brickell deposit schedules at a glance
A pre-construction deposit schedule is the sequence of payments you make after you reserve a unit and sign a contract. You will usually pay an initial reservation, then staged deposits that add up to a set percentage before closing. The balance is due at closing, which you can often finance with a mortgage.
In Brickell, schedules vary across projects and price points. Since 2022, some developers have asked for larger deposits to meet lender requirements and offset rising costs. Others keep deposits lower to drive sales. Expect variation, and verify the exact schedule in the offering documents for the project you choose.
Typical deposit structures in Brickell
Common components
- Reservation deposit to hold the unit, often modest and sometimes refundable before contract.
- Contract deposit installments that add up to a total pre-closing percentage.
- Balance at closing, often financed.
Sample schedules you may see
- Traditional example
- Reservation: about $10,000
- Within 10–30 days of contract: additional funds to reach about 10% total
- Further staged payments over 3–12 months to reach about 20–30% total
- Closing: pay the balance
- Staged 10% increments
- Reservation: about $10,000 to $25,000
- 10% at contract
- 10% at 90 days
- 10% at 6 to 12 months
- Total before closing: about 30%
- Higher-equity trend
- Reservation: about $25,000 to $100,000
- 10–20% at contract
- Another 10–20% within the first year
- Total before closing: about 30–50%
- Low-upfront with larger later call
- Reservation: small amount
- 2–5% at contract
- Later payment brings total to about 20–30%
How product type affects deposits
- High-end luxury towers may ask for larger total equity before closing.
- Condo-hotels or short-term rental products can use unique structures and rules.
- Boutique projects may offer smaller initial deposits to speed sales, but risk and timing can differ.
What changed since 2022
Construction financing became tighter, and building costs rose. In response, some Brickell developers increased total deposits or pulled more payments earlier in the timeline. Others added flexibility, such as delayed calls or limited incentives, to maintain sales pace. Today you should expect to compare schedules across projects and use negotiation to align payments with your comfort level.
Where your deposit sits and why it matters
Your deposits should be held in an escrow or trust account, separate from the developer’s operating funds. A title company or attorney often manages this account. Clear written escrow instructions will state who holds your money, the release conditions, and when refunds apply.
This matters because proper escrow helps protect your funds if the developer faces financial trouble. If funds are not handled correctly, your deposit may be at greater risk. Always confirm escrow details in writing and keep copies with your contract records.
Refunds and contingencies to understand
Refund rights depend on your contract. Many reservation deposits are refundable before you sign the purchase agreement. Once you sign, deposits may become non-refundable unless a listed contingency applies. Common protections include:
- Mortgage financing contingency
- Title contingency
- Condominium document review period
- Developer failure to deliver as agreed or on time, as defined in the contract
If you cancel outside of your contingency periods, you may forfeit deposits. Review the purchase agreement and the offering statement with your advisor before you sign.
Risks to plan for in pre-construction
- Liquidity risk: deposits tie up capital until closing or a refund event.
- Project delay risk: schedules can shift, and you may face additional deposits before move-in.
- Developer solvency risk: financing issues can affect timelines and outcomes.
- Contract forfeiture risk: missed deadlines or unmet conditions can cost deposits.
- Market risk: prices and lending conditions can change before delivery.
Negotiation strategies that work in Brickell
- Ask for deposits to remain refundable until a clear milestone, such as a building permit.
- Tie later deposit calls to construction milestones rather than fixed dates where possible.
- Require escrow with an independent title company or attorney, with a clear release process.
- Add a mortgage financing contingency with defined timelines for approval.
- Cap total pre-closing deposits or space out timing to manage cash flow.
- For large deposits, request added assurances, such as a letter of credit where available.
Due-diligence checklist for Brickell buyers
Use this list to confirm details before you sign:
- Exact deposit schedule and all due dates in the purchase agreement.
- Reservation deposit amount and whether it is refundable before contract.
- Escrow holder name, account type, and written escrow instructions.
- Refund conditions and all contingency periods.
- Whether the developer has filed the required offering statement and that you received it.
- Developer track record, prior projects, and any public litigation or news.
- Current permitting and entitlement status with city and county agencies.
- Rental and short-term rental rules, plus expected assessments.
- Any developer financing or lender incentives and related restrictions.
- Estimated completion date and contract remedies for delay.
- Title commitment and the proposed closing process.
Timeline example: how deposits may flow
Here is one example to show how money might flow. Your actual schedule will vary by project and contract.
- Day 1: Reservation deposit to hold your unit.
- Days 10–30: Sign the purchase agreement and bring total paid to about 10%.
- Month 3: Add 10% to reach about 20% total.
- Month 9: Add 10% to reach about 30% total.
- Closing: Pay the remaining balance, often with financing.
This model helps you plan liquidity and compare projects on more than just price per square foot.
How to budget around the schedule
- Maintain a cash cushion for each deposit date, plus a buffer for change orders or upgrades.
- If you plan to finance, align your loan timeline with deposit calls and the estimated delivery date.
- Track the contract calendar. Set reminders for contingency deadlines and approval windows.
- Model a few scenarios for rates, taxes, insurance, and assessments so you understand the full carrying cost at delivery.
Guidance for international buyers and investors
Foreign and investor demand remains strong in Brickell, so schedules often reflect lender and developer needs for early equity. If you invest across borders, confirm wire timing, escrow instructions, and any currency issues with the escrow agent. Review rental rules and association policies early, since they affect holding costs and projected revenue. When you compare projects, weigh brand strength, amenity mix, and deposit flexibility together.
How The MGM Team supports you
You deserve a smooth, well-informed experience from reservation to delivery. With developer relationships, product-first marketing, and design-aware advisory, our team helps you compare deposit schedules, verify escrow terms, and structure protections that fit your profile. We provide introductions to trusted legal, financing, and immigration professionals, and we coordinate documents, timelines, and floorplan details so nothing is missed.
If you are exploring branded residences or best-in-class luxury towers in Brickell, we can help you identify the right product and negotiate a schedule that works for you.
Ready to move forward with confidence? Connect with The MGM Team Luxury Real Estate to Schedule a Private Consultation.
FAQs
How much cash do I need upfront for a Brickell pre-construction condo?
- Reservation fees are often modest, but first contract payments usually bring you into the single-digit to low double-digit percentage range unless the project requires higher equity.
Are Brickell pre-construction deposits refundable after I sign the contract?
- It depends on the agreement and contingencies, such as financing, title, or condo document review, as spelled out in your contract and offering materials.
Where is my deposit held during a Brickell pre-construction purchase?
- Deposits should be placed in an escrow or trust account with written release instructions, typically held by a title company or attorney.
Can I negotiate the deposit schedule on a Brickell new-development condo?
- Often yes, especially on higher-value units or slower phases, by adjusting refund triggers, escrow terms, total percentage, or timing of staged payments.
What are the biggest risks with Brickell pre-construction deposit schedules?
- Liquidity constraints, project delays, developer solvency, loss of deposit for default, and market changes between contract and closing.
What documents should I review before I commit to a Brickell pre-construction unit?
- The purchase agreement, offering statement or prospectus, escrow instructions, condo documents, plans and specs, construction timeline, and title materials.
