The contract price is set the day you sign. The bank sets its own number the month you close. At Kempinski Residences Miami Design District, here is what happens when the two disagree.
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A pre-construction price is agreed at contract and paid at delivery, often years later. Near closing the lender has the residence appraised and lends a share of the lower of the price and the appraised value. When the appraisal comes in under the price, the buyer funds the difference in cash.
Kempinski Residences Miami Design District: ~132 across two 23 story towers, 64 per tower · six townhomes · 18 guest suites sold to residents only.
The Kempinski Residences Miami Design District dossier holds the developer’s published record. Read it against The Perigon dossier for the nearest comparison.
An appraiser works from closed sales. A new tower has none of its own until the first residences close, so early valuations lean on neighbours that may be older or unbranded. A brand or a view premium needs evidence the appraiser accepts. Upgrades bought from the developer may add less to the valuation than they cost.
Kempinski Residences Miami Design District: Kempinski, under licence · daily management by Kempinski Group · no hotel on the site.
Most Florida pre-construction contracts carry no appraisal or financing contingency, so a low valuation neither releases the buyer nor lowers the price. The usual answers are a larger down payment, a second appraisal where the lender allows it, or another lender.
How much cash could you add at closing if the valuation came in short? Which lenders have already valued residences here or next door? What does the contract say about closing on the date whatever the loan does? The desk reads the contract with you and introduces a lender for the rest.
Kempinski Residences Miami Design District: The deposit schedule is held by the desk and read with you before contract.
Plan the closing as if the appraisal will be short. If it is not, the reserve stays yours.
Developer materials for Kempinski Residences Miami Design District as carried on the live dossier, verified 1 Oct 2026. Compiled by the desk at Miami Dossier; figures are approximate and the developer’s.
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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.
Miami Dossier is the private buyer advisory of Metrik Real Estate, built to represent buyers in Miami pre-construction. Principal: Samuel Strauch.
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