Deposits and payment schedules

Lay the schedule on a timeline

For each project, list the payment trigger, the amount, the expected date, who receives the funds and the contract clause that governs it. Note whether a milestone depends on construction progress or on a fixed calendar date, and how much remains due at closing.

Do not assume what happens to deposits

A small reservation payment is not necessarily the total cash needed before completion. Florida law addresses how pre-closing condominium deposits are held, including escrow and permitted uses in certain circumstances. Ask an attorney how those provisions and your contract apply; do not assume every dollar remains untouched until closing.

Keep unknowns blank

Use the worksheet below and leave any figure blank until a current document confirms it. Keep closing costs and any furnishing package on separate lines rather than folding them into the deposit percentages.

Ask for the current schedule of the exact residence you are considering.