Miami Condo Builders Relax Deposit Rules Amid Strong Dollar

Law360, Minneapolis (March 28, 2016, 1:30 PM EDT) -- The Miami condo sector has for decades been fueled by steady demand from Latin American and other foreign buyers, but experts say a strengthening greenback and falling foreign currencies have forced some developers to start to relax requirements for preconstruction deposits.

While purchasers of Miami condos must still pay high deposits relative to what was required before the 2008 market crash, lawyers and brokers say some developers are now coming down slightly from the 50 percent required deposit that had been standard for the last several years.

And while charging a lower deposit may stimulate more demand amid what some say...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!