What Every Miami New Construction Condo Buyer Needs to Know Before Signing the Deal

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Miami Real Estate Better Decisions

David Siddons

68 episodes

3 days ago

Miami's #1 Real Estate Podcast hosted by David Siddons. Dive in as we e discuss the different macro and micro factors that affect the Miami Real Estate market in order to predict where the market is heading. This podcast is for people who want to know everything about the Miami Real Estate market through transparent and honest conversations. Prepare as we education to provide actionable advice on what to do, but also what NOT to do in today's market.

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What Every Miami New Construction Condo Buyer Needs to Know Before Signing the Deal

Miami Real Estate Better Decisions

1 hour 13 minutes 17 seconds

11 months ago

What Every Miami New Construction Condo Buyer Needs to Know Before Signing the Deal

#BETTERDECISIONS PODCAST! 🎙 🔥 The Best Miami Real Estate Podcast! 👨‍⚖️What Every Miami New Construction Condo Buyer Needs to Know Before Signing the Deal In this episode of the Better Decisions podcast, I’m sitting down with Greg Herskowitz, one of South Florida’s top real estate attorneys, to talk about something I know many buyers are curious (and sometimes nervous) about: pre-construction condo contracts. 🏗️✨ When buying a pre-construction condo in Miami, it’s crucial to fully understand the risks and protections involved. Pre-construction condo contracts can be complex, and common mistakes often stem from overlooking crucial terms, like deposit usage and developer deadlines. To avoid disappointments, make sure you're clear on your cancellation options, understand the developer's obligations, and negotiate terms that safeguard your investment. A well-informed buyer knows how to protect their interests and can leverage their position for better terms. Before committing, use a detailed checklist to ensure you're fully prepared, and always work with professionals who can guide you through the intricacies of these contracts. Understanding these elements will help you navigate the pre-construction market with confidence and avoid costly missteps. ⏱️ Episode Chapters: 00:00 – Teaser Intro 00:45 – Podcast Introduction: Meet Greg Herskowitz 01:15 – What Makes Florida Pre-Construction Contracts Unique 02:25 – The Importance of Hiring an Attorney for Pre-Construction Deals 03:10 – How Pre-Construction Payments Work 05:50 – Estimated Completion Dates vs. Actual Delivery Timelines 08:20 – Force Majeure Clauses and Delays Explained 10:30 – How Developer Track Records Influence Projects 13:15 – What Buyers Can and Can’t Negotiate in Contracts 15:05 – Financial Obligations and Developer Flexibility 18:30 – Temporary Certificate of Occupancy (TCO) vs. Certificate of Occupancy (CO) 21:05 – Key Walkthrough Steps and Punch List Creation 23:50 – Negotiating Timelines for Closing and Deliverables 26:15 – How Pre-Construction Deals Vary Between Miami and NYC 28:50 – Understanding HOA Fees and Budget Estimations 31:45 – Hidden Costs at Closing: What to Look Out For 34:20 – Working with Reputable Developers and Agents 36:40 – Tips for Inspecting Pre-Construction Deliverables 39:10 – Managing Expectations for Building Materials and Amenities 42:30 – Final Takeaways for Pre-Construction Buyers 📖 Read the full blog article here: https://luxlifemiamiblog.com/what-every-miami-new-construction-condo-buyer-needs-to-know-before-signing-the-deal 👨‍⚖️ About Greg Herskowitz: Greg Herskowitz is a leading real estate attorney in South Florida with decades of experience working with buyers, developers, and investors. His expertise in pre-construction condo contracts has made him a trusted advisor to many navigating Miami’s dynamic real estate market. 🔔 Subscribe to our channel for more insights and analyses on real estate markets and investment strategies. 📈 Follow Us On Social Media Instagram: www.instagram.com/thedavidsiddonsgroup 📲 David Siddons | 305.508.0899 | David@siddonsgroup.com For more detailed discussions and exclusive content, visit our websites: www.luxlifemiamiblog.com www.newconstructioncondomiami.com #MiamiRealEstate #PreConstructionCondos #MiamiRealEstateContracts #Luxlifemiamiblog