When you buy a pre-construction condo in Florida, you’re purchasing a home that doesn’t exist yet and trusting the developer to bring it to life. But what happens if the project is delayed? Can you get your deposit back?
It’s one of the most common questions we hear from Florida condo buyers. The good news: Florida law offers strong protections for pre-construction deposits, as long as you understand how your contract and timelines are structured.
Construction Delays Are Common But the Details Matter
Pre-construction projects across Florida, especially in Miami, Fort Lauderdale, and Orlando, often face delays due to permitting, supply chain issues, and weather.
Delays themselves aren’t unusual, but what is important is how your purchase agreement defines them.
Most Florida pre-construction contracts include both:
- an estimated completion date, and
- an “Outside Date” (a legal buffer giving the developer more time to complete construction).
If your developer goes beyond the Outside Date without delivering the project or offering an approved extension, you may be entitled to a full refund of your deposit.
Florida’s Escrow Laws Protect Buyers
Under Florida Statute 718.202, deposits for condominium pre-sales must be held in an escrow account by a third party (usually a title company or law firm).
This means your deposit is not directly accessible to the developer until certain milestones are met, protecting buyers even when construction is delayed.
Unless you default on your contract, your deposit stays fully secured in escrow until either:
- the property is completed and closed, or
- the developer fails to meet contractual obligations and a refund is triggered.
When You Can (and Can’t) Get a Deposit Refund
You’re likely entitled to a deposit refund in Florida if:
✅ The developer doesn’t complete construction by the Outside Date.
✅ The project is canceled.
✅ The developer changes material terms of your agreement (e.g., unit size, design, or building scope).
You’re typically not entitled to a refund if:
❌ The delay falls within the allowed timeframe outlined in your contract.
❌ You voluntarily cancel for personal reasons.
❌ You accept a contract amendment extending the delivery date.
How Refunds Are Processed
Once a project qualifies for cancellation, the escrow agent (not the developer) is responsible for releasing deposits back to buyers.
Refunds are typically processed within 15 to 45 days, depending on the title company’s policies and the developer’s approval process.
Always confirm the escrow holder’s name, contact details, and refund terms before signing your purchase agreement.
Tips for Florida Buyers
- Ask about the Outside Date before signing any contract.
- Confirm where your deposit is held and who the escrow agent is.
- Request a copy of the escrow acknowledgment letter — you’re legally entitled to it in Florida.
- Work with a licensed Florida broker experienced in pre-construction condos.
- Keep all written communications with the developer and escrow agent.
The Bottom Line
Delays are part of the pre-construction process but in Florida, your deposit is well-protected when your contract and escrow are properly structured.
Knowing your rights and reviewing your agreement carefully can prevent costly surprises down the road.
If you’re exploring new construction condos in Florida, the team at Condos Global can help you compare deposit structures, timelines, and developer track records before you buy.
👉 [Browse Our Latest Florida Condo Listings]
👉 [Book a One-on-One Strategy Call]