Several factors and events seem to have impacted the Florida condo real estate market. These include:
This checklist can be a starting point for what to ask a condo seller or listing real estate agent to provide when considering the purchase of a Florida condo. Buyers should review, at a minimum, the items on this checklist with their realtor, real estate attorney, and advisors before making an offer to buy. Buyers should also review any additional items not on this checklist that may apply to the specific unit considered.
Assessments for the last three years
Special assessments for the last three years
The Frequently Asked Questions and Answers (FAQ) document required by Florida Statutes 718.111(12)(d) or FS 718.504
All governing documents
Audit reports for the last three years
Annual reports for the last three years. Buyers can search for these at sunbiz.org, the Florida Department of State website.
Most recent insurance appraisal
Most recent reserve study
Budgets for the last three years
Turnover date
Turnover - list of all open items