What are condo milestone assessments and how do they affect condo buyers?

Florida law requires certain condominium buildings to be inspected for structural integrity once they reach a certain age, so serious issues are caught before they become dangerous.

The inspection looks at the building's structure, including areas that can deteriorate over time.

If the inspection finds needed repairs, the association may fund them through a special assessment, which is a charge to unit owners, sometimes a large one.

How much each owner pays depends on the cost of the work and the size of their unit.

Before buying a condo, it is important to check the association's inspection status and whether the reserves are funded.

A well-managed building that is current on inspections and reserves is a much safer purchase than one facing a surprise assessment.

South Florida has many condo buildings of all ages, so the inspection status varies widely from one to the next.

This is exactly why reviewing the association documents and asking about assessments before you commit matters.

I help you review the association documents, understand the reserve fund, and ask the right questions about inspections and assessments.

I want you to know exactly what you might be taking on before you make an offer on a condo.