Villa Miami Contract to Closing Checklist
From signature to keys: the rescission window, four deposit milestones, finish selections, walkthrough and the 2027 closing — in order, with what is due at each step.
Independent real-estate website · Inquiries handled by Kyle Gilligan · Same-day response
The Short Answer
After signing, you wire 10% at contract, your 15-day Florida rescission period runs, and three further 10% deposits fall due at 90 days, six months and 12 months. Construction continues toward a 2027 delivery target. You then receive a closing notice, complete a walkthrough, and fund the remaining 60% plus closing costs. Nothing else is due in between.
Step 1 — Before You Sign
- Review current pricing and availability for the collection you want — pricing and availability.
- Engage your own Florida real-estate attorney. The developer's contract is drafted for the developer.
- Decide the ownership structure — personal name, LLC or trust — before signing, not after. Changing it later can be treated as an assignment.
- Confirm source-of-funds documentation with your bank if funds originate outside the U.S.
- Model total cost: purchase price, closing costs, and ongoing HOA fees at roughly $2.50–$3.50 per square foot per year.
Step 2 — Contract Signing and the 15-Day Window
You sign the purchase agreement and receive the developer's prospectus and required documents. Florida's Condominium Act grants a 15-day rescission right from the later of those two events, during which you may cancel and have the deposit returned. Use it: this is the window in which your attorney reviews the escrow provisions, default terms, assignment restrictions, developer's right to modify, and the delivery-date language. Diary the expiry date the day you sign.
Step 3 — The Deposit Milestones
- 10% at contract — wired to the Florida escrow agent. See the escrow and wire transfer process.
- 10% at 90 days from execution.
- 10% at six months from execution.
- 10% at 12 months from execution.
- 60% at closing, projected 2027.
These are firm contractual dates. Fund each wire at least three business days early, particularly on international transfers.
Step 4 — The Construction Period
During construction you receive periodic developer updates and, on the developer's schedule, any finish or design selection windows. Those windows are time-limited and communicated in writing. This is also the period in which financed buyers should be positioning: most lenders will not underwrite a pre-construction condominium years ahead of delivery, so financing is typically arranged in the 6–12 months before closing. See financing options and cash vs financed.
Step 5 — Pre-Closing
- Closing notice from the developer, typically 30 days ahead, with the closing date and final figures.
- Financing finalized — appraisal, underwriting and clear-to-close, where applicable.
- Title and entity work — title commitment reviewed, LLC or trust documents delivered to the closing agent.
- Insurance — your HO-6 unit policy bound; the association covers the structure.
- Walkthrough — inspect the finished residence and record a punch list of deficiencies.
Step 6 — Closing Day
You fund the remaining 60% of purchase price plus closing costs — roughly 1.5%–2.5% cash, up to 3%–4% financed — the deed is recorded in Miami-Dade County, and possession transfers. HOA setup, working capital contribution and prorated taxes are settled at the same table. The full sequence with dates is on the closing timeline.
Step 7 — After Closing
Ongoing costs begin: HOA assessments at approximately $2.50–$3.50 per square foot per year, Miami-Dade property taxes at roughly 1.6%–2.0% of assessed value, and your unit insurance. If you intend to lease, review the rental and leasing policy before closing rather than after — condominium documents govern minimum lease terms and approval requirements.
Get the Checklist for Your Residence
Deposit dates, selection windows and closing figures are specific to the residence and the contract you sign. Request a dated version built around your purchase using the form on this page, or start with how to buy at Villa Miami.
Frequently Asked
What happens after I sign the Villa Miami contract?
You wire the 10% contract deposit to the Florida escrow agent, your 15-day statutory rescission period runs, and then three further 10% deposits fall due at 90 days, six months and 12 months. Construction continues toward a 2027 delivery target, after which you receive a closing notice, complete a walkthrough and fund the remaining 60% plus closing costs.
How long is the Florida rescission period?
Fifteen days from the later of signing the purchase agreement or receiving the developer's prospectus and required documents. Within that window a condominium buyer may cancel and receive the deposit back. It is the single most important date in the early part of the process.
When do I choose finishes?
Finish and design selections are made during the construction period on the developer's schedule, well before delivery. Villa Miami residences are delivered finished, with kitchens custom-designed by Mario Carbone; selection windows are communicated in writing and are time-limited.
Can I assign or resell my contract before closing?
Assignment is governed entirely by the purchase agreement and generally requires developer consent, often with restrictions or a fee. Do not assume a pre-closing assignment is available. Confirm the specific language with your attorney before contracting if this matters to you.
What is the walkthrough before closing?
A pre-closing inspection of the finished residence with the developer's representative, where deficiencies are documented on a punch list for correction. Attend it in person or send your representative — it is the practical moment to record anything you want addressed.
What is due on closing day?
The remaining 60% of purchase price plus closing costs, budgeted at roughly 1.5%–2.5% for a cash closing and up to 3%–4% where financing and entity structuring are involved.
Ready to move forward? Book a private presentation at the Villa Miami Sales Gallery, review the floor plans, or see the current price list.
A limited collection of bayfront residences in Edgewater.
Contact us to learn more about current availability, floor plans, and pricing for specific residences at Villa Miami, 710 NE 29th Street, Edgewater.
Inquiries are handled by Kyle Gilligan. Typically a same-day response.