1. Reservation The reservation phase is the earliest phase of the project where the developer is still making plans with the city and state, and the building only exists as a vision in blueprints and other renderings. During this phase, the buyer is requested to sign a non-binding reservation agreement and…
1. Development fee. It is a percentage of the purchase price and any charges for options, modifications, or extras not included in the purchase price. It varies from 1.5-2.7% depending on the project. At Una Residences, for example, it is 1.70%. 2. Capital contribution. A working capital contribution in an…
The following are the most essential elements that every investor/buyer should know regarding pre-construction agreement in Miami, FL: 1. They are Unilateral Contracts. The developer drafts the contract and sets all the rules. The purchaser isn't entitled to make any changes. It is also known as a contract of adhesion. 2.