Buying a condo in a new Dallas tower means buying from the developer, often before the building is finished, under a developer's contract rather than the standard resale form. Before signing, buyers should read the condominium information statement, understand the deposit terms and delivery timeline, and know their right to cancel. Under Section 82.156 of the Texas Property Code, a buyer from the developer who did not receive the condominium information statement before signing may cancel before the sixth day after receiving it, with a full refund of payments.
At The Agency Dallas, our agents represent buyers in new condo developments across Dallas. This guide covers what is different about buying new and how to protect yourself.
How is buying in a new tower different from buying a resale condo?
The biggest differences come from who you are buying from and when:
- Developer contract. New-construction condo sales usually use the developer's own contract, which is written to protect the developer.
- Pre-construction timing. You may sign months or years before the building is complete.
- Deposits. Developers often require larger deposits, sometimes in stages.
- Finishes and plans. You may choose from finish packages or floor plans, and the developer may reserve the right to make substitutions.
- Documents. Instead of a resale certificate, you receive the condominium information statement describing the project.
What should I read before signing a developer contract?
Read every document, and have your agent and, ideally, a real estate attorney review them. Pay attention to:
- The condominium information statement. It describes the project, the declaration, the budget and the association.
- Deposit terms. How much, when it is due, where it is held and when it becomes non-refundable.
- Delivery dates. The estimated completion date, how far the developer can extend it and what happens if delays run long.
- Substitution clauses. What finishes or features the developer can change.
- Projected HOA dues. First-year budgets in new buildings are estimates, and dues can change once the building is operating.
- Cancellation rights. Including the statutory right under Texas Property Code Section 82.156.
Do I need my own agent to buy a condo from a developer?
It is wise. The developer's sales team represents the developer. A buyer's agent represents you, compares the project against resale options, reviews contract terms and helps negotiate upgrades or incentives. Our guide on who represents buyers in new condo developments in Dallas explains how that works, and what is different about buying a condo in Texas covers the basics.
What are the risks of buying pre-construction?
Pre-construction can offer the best choice of units and sometimes better pricing, but it carries risks to weigh:
- Delays. Construction schedules often slip.
- Market changes. Values and interest rates can move between contract and closing.
- Financing at closing. Your loan is usually arranged near completion, so your finances need to qualify then, not just at signing.
- Lender approval of the building. Some lenders have rules for new buildings with low sales or high investor ownership. See what a condo lender will ask about the building.
- Unproven operations. Dues, staffing and amenities in a new building have no track record yet.
What should I check at the final walkthrough?
Before closing on a newly completed unit, walk it carefully with your agent. Test fixtures, appliances, windows and HVAC, check finishes against your contract, and document any items for the developer's punch list in writing. A professional inspection is worth considering even in a brand-new building; see whether to inspect a brand-new home in Texas.
How do I compare a new tower with an established building?
Many buyers shopping new construction also tour resale units, and the comparison is worth making carefully:
- Price per square foot. New towers often carry a premium for modern finishes and systems.
- Floor plans. Newer buildings tend to have open layouts and larger outdoor spaces; older buildings sometimes offer larger units and more separate rooms.
- Track record. Established buildings have a history of dues, reserves, staffing and resale values you can review.
- Timing. A resale unit can close in weeks; a pre-construction unit may take a year or more.
- Customization. Buying early in a new tower may let you choose finishes or combine units.
Our guide on how to compare Dallas luxury high-rise condos lays out a framework that works for both new and established buildings, so you can judge a new tower against the best resale options at the same price.
How The Agency Dallas helps buyers in new towers
The Agency Dallas is an independently owned luxury real estate brokerage, and our agents represent buyers in new condo developments and established high-rises across Dallas. We help buyers compare a new tower with resale options, review developer documents with their attorney, and track deadlines from contract to closing. For context on the wider market, see whether 2026 is a good time to buy a Dallas luxury condo.
Frequently asked questions
Can I cancel a contract to buy a new condo in Texas?
Texas Property Code Section 82.156 lets a buyer from the developer cancel before the sixth day after receiving the condominium information statement, if it was not provided before signing. Cancellation must be in writing and payments are refunded. Your contract may include other cancellation terms, so review it carefully.
What is a condominium information statement?
It is the disclosure document a developer provides to buyers of new condominium units in Texas. It describes the project, the declaration and bylaws, the association's budget and other details a buyer should review before committing to the purchase.
Should I hire an attorney to review a developer contract?
Many buyers do. Developer contracts are often long and favor the developer, with terms on deposits, delays and substitutions that differ from standard Texas forms. Having a real estate attorney review the contract alongside your buyer's agent is a sensible step for a large purchase.
Are HOA dues in a new tower guaranteed?
No. First-year dues in a new building are based on a projected budget. Once the building is operating, actual costs for staff, insurance and utilities can differ, and the association may adjust dues. Ask how the budget was prepared and what reserves are planned.
Do I need my own agent if the developer has a sales office?
The developer's sales staff represent the developer. Your own buyer's agent represents your interests, compares the project with other options and helps negotiate terms. Register your agent with the developer at your first visit, since some developers require it.
Source: Texas Property Code Section 82.156, Purchaser's Right to Cancel, accessed October 30, 2026.
