Most Miami pre-construction is bought without a mortgage. At Banyan Tree Residences, cash makes the purchase simpler in some places and more scrutinised in others. Here is both halves.
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No appraisal, no loan commitment, no lender’s title policy, no lender-required repairs, and a closing that can happen the week the building is ready. Developers prefer cash buyers for the same reasons and sometimes say so in the release.
Banyan Tree Residences: 88 private residences plus a penthouse collection: one- to four-bedroom corner residences with wraparound terraces, 10-foot ceilings, floor-to-ceiling impact glass, direct elevator entry in most; Yabu Pushelberg kitchens with Sub-Zero and Wolf; primary baths with rain shower and sculptural freestanding tubs.
Read it against the Kempinski Residences Miami Design District dossier for the nearest comparison.
The developer asks for proof of funds at contract: a bank letter or a statement. The title company and the receiving bank ask about the source of funds under US anti-money-laundering rules, and a buyer abroad should expect to document where the money came from, in writing, before the wire clears. This is routine; it is slow only when it starts late.
Banyan Tree Residences: The deposit schedule is held by the desk and read with you before contract.
Deposits go to the escrow agent named in the contract, in US dollars, on the schedule the contract sets. The closing wire goes to the closing agent against a settlement statement you have read. Verify instructions by telephone every time; the instructions do not change between deposits, and an email saying they have is the fraud.
In Miami-Dade, all-cash purchases of residential property through entities above a threshold have been subject to federal beneficial-ownership reporting since 2016; counsel states the current rule. Cash changes nothing about documentary stamps or the association’s working-capital contribution; it removes the stamps on a mortgage note, because there is none.
Cash is faster at the end and slower at the start. Start the paperwork first.
Developer materials for Banyan Tree Residences as carried on the live dossier, verified September 2026. Compiled by the desk at Miami Dossier; figures are approximate and the developer’s.
Contact the desk at Miami Dossier for the documents behind this note, read one to one with you and your advisers.
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We hold no listings and we are not the developer. Contact the desk at Miami Dossier and we will tell you what applies to your situation, what does not, and where we would not proceed. On this topic that means the document before the opinion. Where a question is legal, tax or structuring, we introduce you to advisers who handle that properly rather than answering it ourselves.
Metrik Real Estate is a Miami real estate company built around one idea: the buyer gets their own team. Miami Dossier is its private buyer advisory for new construction.
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