Selling?
Selling a Florida condo with a special assessment? Know what the documents say before a buyer's attorney does.
Florida's condominium disclosure rider reaches back 12 months — any special assessment that was levied, or even just appeared on a board agenda or in meeting minutes, usually has to be disclosed. Most sellers disclose the one number on the assessment notice and stop there.
The buyer's side will read the full documents anyway
During their review window, a buyer is entitled to the same SIRS, reserve study, budget, and financial statements the board already has. If those documents show more than the assessment you disclosed — another component near zero years of life, a reserve contribution that still doesn't match what the study says is required — that becomes a negotiation you're having after an offer is already on the table, not before you listed.
What's worth checking before you list
- Does the reserve study show anything near zero years of remaining life that isn't covered by the assessment you're disclosing?
- Is the association's current annual contribution actually at the level the study says is required, or still short?
- Does anything in recent board minutes or agendas point to a second assessment that hasn't been billed yet?
If you have the SIRS, reserve study, budget, or recent financials for your association, send them. We'll check free whether there's enough to calculate the same five-year exposure number a buyer's side will eventually work out on their own.
Already received the notice as an owner, not deciding whether to sell? See what else the reserve study can tell you → Buying instead? What triggers a special assessment →