Palm Tree Residences Miami: How to Buy Step by Step

Here's the complete step-by-step process for buying a pre-construction condo in Miami — from first contact through closing — so you know exactly what you're committing to, when the money moves, and what to expect at every stage. 👉🏼 Download the Miami Relocation Survival Guide: https://miamirelocationsurvivalguide.... 📲 Thinking about renting, buying, selling or investing in South Florida real estate? Contact me here: Phone: ‭(954) 655-4322‬ Email: [email protected] How pre-construction condo purchases work in Miami Pre-construction is a fundamentally different process from a traditional resale purchase — and if this is your first time doing it in Florida, the deposit structure, contract timelines, and financing rules are things you need to understand before you put money down. This video walks through every step using Palm Tree Residences as the live example: a 37-story, 483-unit fully furnished tower in Downtown Miami that launched sales in June 2026 with a projected Q4 2029 delivery. Step one through two: the sales gallery and unit selection The process starts with a detailed project presentation covering location, building layout, amenities, unit types, view lines, parking, storage, HOA pricing, and the full pricing range. At Palm Tree Residences, fully furnished residences range from junior suites starting at $565,000 to penthouse collection units up to $3.4 million. Unit selection depends heavily on intended use — personal residence, seasonal, or short-term rental investment — and those three goals lead to different floor plan choices. Step three: the contract, the 15-day rescission window, and your first deposit In Florida, buyers have a 15-day rescission period from the date they receive the contract. That window exists to review everything — with an actual real estate attorney, not just your agent. Once those 15 days pass and you proceed, your first deposit hardens and you are committed to the purchase. Step four: the full deposit schedule Palm Tree Residences runs a four-milestone structure: 10% at contract signing, 10% at six months, 10% at groundbreaking (targeted Q2 2027), and 10% one year after groundbreaking. That's 40% of purchase price deployed in stages before the building delivers. The remaining 60% is due at closing in late 2029. On a $1 million unit, that means four $100,000 payments across roughly two years, then $600,000 at close. Step five: financing strategy for pre-construction in Miami Pre-construction contracts in Florida are written as cash contracts through the deposit phase — deposits cannot be mortgaged and must come from liquid funds. The mortgage, if you're financing, applies at closing when title transfers. That means having deposit capital liquid and available across a roughly two-year window before your lender enters the picture. International buyers have access to foreign national loan programs, but those typically require larger down payments and more lead time to arrange. Step six: groundbreaking through closing Once construction begins, the developer issues milestone updates. Before closing, you'll conduct a final unit walkthrough to confirm contracted specifications. Budget for closing costs of approximately 1.7–2% of purchase price in developer fees, plus first month HOA dues and two months into the reserve fund. Why pre-construction in Miami attracts both buyers and investors You're locking in today's price and today's floor plan with a fraction of total purchase price upfront, in a market where well-located projects have historically appreciated meaningfully between launch and delivery. Sales at Palm Tree Residences launched the first week of June 2026 — the earliest buyers in any launch get the most selection and the most negotiating leverage.