Affiliate Login

Resort/Condo Market

About Infinity Blu

Infinity Blu Buyers

Infinity Blu Affiliates

Infinity Blu Tools
The Four Steps of Pre-Construction
Step 1 – The Reservation Period
Sign a Non-Binding Reservation Agreement.
Provide a Refundable Deposit.
Pre-Construction real estate is offered by the developers to reserve a condominium at an initial offering price. A deposit, in the amount of $1,000 to $5,000 is held in escrow with a title company and is fully refundable.
Step 2 – The Purchase Agreement
Sign a Binding Purchase and Sales Contract and Provide a Deposit
The developer provides condominium documents, which have been approved by the State of Florida. These documents are delivered to the buyer along with the Purchase and Sales Contract. The Buyer commits to purchasing the condominium and provides the balance of the deposit, typically 20% of the purchase price less the initial deposit. Often the deposit can be paid with 10% cash and a 10% letter of credit from an approved bank.
Step 3 – Right of Rescission Period
In a time period of 10 days after signing the Purchase and Sales Contract, the Purchaser may carefully review the condominium documents. If the Purchaser is not fully satisfied with those documents, he/she has the right to rescind the contract and receive a full refund of their deposit.
The buyer will have 15 days to review the documents and either choose to commit to the condominium reserved or request all reservation fees be refunded.
Step 4 – Closing the Sale
Walk through, close, take ownership.
Closing takes place, typically 18 to 24 months after construction begins. When the project is completed, a Certificate of Occupancy (CO) is issued. They buyer will then inspect their new condominium to make sure everything is in satisfactory order. Following the inspection, the Purchaser will proceed to closing.
Note: While there is no guarantee of appreciation, with developer approval, the original purchaser can often assign his contract to a second purchaser for a higher sales price prior to closing.