In Florida, signing a pre-construction contract is not the point of no return. The law gives you 15 days to walk away. At Ocean Terrace, here is how that right works.
This page is a framework. Whether the building suits you is a separate conversation. Contact the desk at Miami Dossier for the current position on any building we cover.
Florida Statute 718.202 gives the buyer of a pre-construction condominium 15 days after signing the purchase agreement to rescind it, for any reason or none. The developer must hold the buyer’s deposits during this period, and if the buyer cancels in time, every dollar comes back. No penalty, no explanation required.
The Ocean Terrace dossier holds the developer’s published record. Read it against the Kempinski Residences Miami Design District dossier for the nearest comparison.
The 15 days run from the buyer’s execution of the agreement, but the right depends on the developer having delivered the required disclosure documents: the declaration, articles, bylaws, estimated budget, and the other 718.503 disclosures. If the developer has not delivered them, the buyer’s rescission right stays open. Count the days from a complete delivery, not from the sales gallery visit.
Rescission must be delivered in writing to the developer within the 15 days, in the manner the contract specifies. Email alone may not satisfy the contract’s notice provision; follow the stated method and keep proof of delivery. A lawyer or the desk confirms the notice landed before the deadline expires. After the period closes, the contract is binding and the deposits are committed to the schedule.
Confirm the rescission clock for this contract: when it started, what was delivered, and the exact notice method. The desk checks it before the ink is dry.
Fifteen days is a right. Use it to read.
Developer materials for Ocean Terrace as carried on the live dossier, verified 2026-09-19. 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.
A private report on the Miami market, sent when there is something worth knowing. No noise, no listings, no pressure.
Received. A note from the desk is on its way. If it has not arrived within a few minutes, please check your spam folder and mark it as not spam, so we can reach you.
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.
The Miami Dossier team works for the buyer, not the developer. Every agent on Samuel Strauch’s team represents buyers in Miami pre-construction.
A person replies within 24 hours, usually much sooner. On weekends, back on Monday morning.
