Some buyers never intend to close. They buy the contract and sell it before completion. At The Ritz-Carlton Residences, South Beach, whether that is possible is written in the assignment clause.
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An assignment transfers the buyer’s position in the purchase agreement to a new buyer before closing. The new buyer steps into the contract at its price and terms; the original buyer walks away, usually with a profit if the market moved. Until the building closes, there is no deed to sell, only the contract.
Read it against the Kempinski Residences Miami Design District dossier for the nearest comparison.
Most Miami developer contracts address assignment directly. The common patterns: assignment prohibited entirely until closing; assignment allowed with the developer’s written consent, which cannot be unreasonably withheld; or assignment allowed freely after a certain stage. Almost every version charges an assignment fee, and some give the developer a share of the profit or a right of first refusal.
The assignment fee is typically a fixed amount or a percentage of the price, paid to the developer at the transfer. If the developer holds a profit share, it comes off the top. The new buyer must also qualify under the same terms, and the original buyer’s deposits transfer with the contract. None of this is negotiable after signing; it is all in the clause.
Show me the assignment clause: is consent required, what is the fee, and does the developer take a share. The desk reads it with you before you sign anything that assumes you can sell.
An exit you cannot use is not an exit. Read the clause.
Developer materials for The Ritz-Carlton Residences, South Beach as carried on the live dossier, verified September 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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