Sell a Florida Condo With a Special Assessment, Milestone Inspection or SIRS Increase
A five-figure assessment notice or a dues increase you did not plan for does not have to trap you. Libera Capital Group buys Florida condos for cash with the assessment, the inspection findings and the reserve shortfall priced in.
- Paid, unpaid or pending assessments
- No lender or warrantability test
- No commissions or repairs
- Close on your timeline
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No obligation. No fees. No repairs. Tell us about the property and we'll follow up with a cash offer.
Since the 2021 collapse of Champlain Towers South in Surfside, Florida has rewritten the rules for condominium buildings. Older mid-rise and high-rise associations must now complete structural milestone inspections, fund reserves for structural components based on a professional study, and give buyers far more information about the building’s condition. Those rules are making buildings safer, but the bill for decades of deferred maintenance and underfunded reserves is arriving all at once. For many owners it shows up as a special assessment of tens of thousands of dollars, a dues increase that changes the monthly budget, or both.
Our condos and townhomes page gives an overview of the condominium safety laws and the kinds of units we buy. This page goes further into the questions owners ask us once the assessment letter arrives: how the 2025 amendments in House Bill 913 changed the rules, how a special assessment is legally adopted, what rights you have as an owner, who pays the assessment when a unit sells, how estoppel certificates and the resale disclosure package work, how buyers and lenders react, and what happens if the assessment is unpaid.
Libera Capital Group buys condominiums and other residential and commercial property for cash across Florida, with Southwest Florida as our home market. This page is general information, not legal advice. Condominium law changes often and your association’s declaration matters, so confirm details with a Florida community association attorney or the current statutes.
Why condo owners facing assessments sell to Libera Capital Group
Your sale doesn’t hinge on the building
A retail buyer’s loan can fail because of the association’s reserves, insurance or repair list, no matter how nice your unit is. We pay cash, so the building’s project review is not a condition of closing.
We read the documents for what they are
Milestone summaries, SIRS funding plans, budgets and board minutes are part of how we price a unit. Bad news in the paperwork does not send us running; it just goes into the math.
Flexible handling of the assessment
You can pay the assessment from proceeds, or we can agree to take over remaining installments with the price adjusted. Either way, the deal is written clearly so there are no surprises at the closing table.
Your timing, not the board’s
Sell before the next installment, after a vote, or while the repair project is underway. We can close quickly or on a later date that fits your move.
The laws behind the assessments: 2022 to 2025
Florida’s condominium safety framework was built over several sessions. Each round adjusted the one before, which is why owners hear conflicting deadlines. Here is the broad sequence; always check the current version of Chapter 718 and section 553.899 of the Florida Statutes.
| Year | Legislation | What it did, in broad terms |
|---|---|---|
| 2022 | Senate Bill 4-D | Created statewide milestone structural inspections and structural integrity reserve studies (SIRS) for taller condo and co-op buildings, and set a path to end the waiver of reserves for structural components. |
| 2023 | Follow-up legislation | Clarified and refined the 2022 law, including which buildings are covered, inspection timing and how studies are prepared. |
| 2024 | Governance and transparency reforms | Expanded owner access to records, board education and conflict-of-interest rules, and broadened online posting of association documents. |
| 2025 | House Bill 913 | Effective July 1, 2025: tied coverage to buildings of three or more habitable stories, moved the SIRS deadline to December 31, 2025, allowed limited pauses in reserve funding after a milestone inspection, authorized loans and lines of credit to fund reserves with owner approval, raised the reserve item threshold and lengthened the buyer’s cancellation period on resales to 7 days. |
Which buildings are covered
Both milestone inspections and SIRS apply to buildings that are three or more habitable stories tall under the Florida Building Code. Single-family through four-family buildings of three or fewer habitable stories are excluded from milestone inspections. That means many two-story garden-style condominiums in Southwest Florida are outside these two specific requirements, although they still have reserve, insurance and maintenance obligations and can still levy special assessments. Mid-rise and high-rise buildings along the coast are squarely covered.
Milestone inspections and the repair clock
A milestone inspection is a structural review by a licensed architect or engineer. It is not a home inspection of your unit; it looks at the building’s load-bearing elements and primary structural systems. Understanding its stages helps you anticipate when an assessment is likely to follow.
When the inspection is due
Under section 553.899, a covered building must complete its first milestone inspection by December 31 of the year it reaches 30 years from its certificate of occupancy, and every 10 years after that. Local building officials may require the first inspection at 25 years based on local conditions such as proximity to salt water, so coastal owners should check their county or city rules. Buildings that had already reached 30 years before July 1, 2022 had a deadline of December 31, 2024, and those reaching 30 between July 1, 2022 and December 31, 2024 had until December 31, 2025, subject to extensions local officials may grant for good cause.
Phase one and phase two
Phase one is a visual examination of habitable and non-habitable areas with a qualitative assessment of the structure. It must be completed within 180 days after the association receives the local building official’s written notice. If the inspector finds substantial structural deterioration, phase two follows, which may involve destructive or non-destructive testing to determine the extent of the problem and recommend repairs. A phase two progress report with a timeline is due within 180 days after the phase one report is submitted.
The repair deadline
Local governments must adopt ordinances requiring that repairs identified in phase two be scheduled or commenced within a set time, and the statute caps that period: repairs must begin no later than 365 days after the local enforcement agency receives the phase two report. If the association cannot show that repairs have been scheduled or started on time, the building official must review whether the building is unsafe for occupancy. This deadline is why boards often move quickly from an engineering report to a special assessment vote.
What owners receive
Within 45 days of receiving the inspection report, the association must distribute the inspector’s summary to every unit owner, post it conspicuously on the property and, if it has a website, publish the full report and summary there. When you sell, the summary is also part of the documents your buyer is entitled to receive. If your building’s summary mentions substantial structural deterioration or phase two testing, expect buyers, lenders and insurers to ask about the repair plan and how it will be funded.
SIRS, reserves and why dues are rising
The structural integrity reserve study is a financial companion to the milestone inspection. It looks at the building’s major structural and life-safety components, estimates how long each will last and what it will cost to replace or repair, and sets a funding plan so the money is there when the work is due.
What the SIRS must cover
- Roof
- Structure, including load-bearing walls and primary structural members and systems
- Fireproofing and fire protection systems
- Plumbing
- Electrical systems
- Waterproofing and exterior painting
- Windows and exterior doors
- Any other item whose deferred maintenance or replacement cost exceeds the statutory threshold and that affects the items above
The study must be performed or verified by a licensed engineer or architect, or by a credentialed reserve specialist or professional reserve analyst, and repeated at least every 10 years. HB 913 raised the item threshold to $25,000, adjusted for inflation by the state’s condominium division beginning in 2026. For associations that existed on or before July 1, 2022, the SIRS deadline became December 31, 2025, with limited coordination allowed for buildings whose milestone inspection is due by the end of 2026.
No more waiving structural reserves
For budgets adopted on or after December 31, 2024, an owner-controlled association that is required to have a SIRS generally may not waive or reduce reserve funding for the SIRS components, and those reserve funds may be used only for the components they were collected for. For many older buildings that historically voted each year to waive or reduce reserves, this single change explains most of the dues increase. Owners are not paying for something new; they are catching up on years of funding that was skipped.
Loans, lines of credit and a temporary pause
HB 913 gave associations more ways to raise the money. Reserves for SIRS components may now be funded through regular assessments, special assessments, lines of credit or loans, with a special assessment, line of credit or loan requiring approval by a majority of the total voting interests. Financing must be disclosed in the association’s annual financial statement and to prospective buyers. The law also allows a limited pause: for budgets adopted on or before December 31, 2028, if a milestone inspection was completed in the prior two calendar years, the board may, with majority approval of the total voting interests, pause or reduce reserve contributions for up to two consecutive annual budgets in order to fund the repairs the inspection recommended. A new SIRS must be performed before contributions resume.
What that means for your monthly costs
These options change how the cost reaches you, not whether it exists. A large repair can be paid as a lump-sum special assessment, spread over installments, financed through an association loan repaid with higher monthly dues, or funded by a mix. When you sell, buyers look at all of it: the remaining installments, the loan balance the association carries, the new dues and the reserve funding plan. Rising insurance premiums for coastal buildings add to the pressure, which is one reason many owners decide the unit no longer fits their budget.
How a special assessment is adopted, and your rights as an owner
A board cannot simply send a bill. Florida’s condominium statute and your association’s governing documents set procedures, and owners have meaningful rights.
Notice and purpose requirements
For a board meeting at which a non-emergency special assessment will be considered, section 718.112 requires written notice mailed, delivered or electronically sent to owners and posted conspicuously on the property at least 14 days before the meeting. The notice must state that assessments will be considered and give the estimated cost and the purposes. Under section 718.116, the specific purpose or purposes of a special assessment must be stated in a written notice to each owner, and the money collected may be used only for those purposes. If money is left over after the project, the excess is treated as common surplus, which the board may refund or credit toward future assessments. Your declaration or bylaws may add requirements, such as an owner vote for certain projects.
Your right to see the records
Owners have a statutory right to inspect and copy the association’s official records, including engineering reports, bids, contracts, budgets, reserve studies and meeting minutes. Make the request in writing and keep a copy. Associations with 25 or more units are also being required to post more key documents online. Reviewing bids and the engineer’s report helps you judge whether the assessment amount is reasonable and when work will actually start, which affects how you price and time a sale.
If you disagree with the assessment
Disagreement does not suspend the obligation to pay. If you believe the board did not follow proper procedures or misused funds, options can include raising the issue at a meeting, contacting the state’s Division of Florida Condominiums, Timeshares and Mobile Homes or the Office of the Condominium Ombudsman, participating in a board recall, or pursuing arbitration or litigation through a community association attorney. Those efforts can take a long time. Many owners choose to pay or sell while any dispute continues rather than risk late fees, interest and a lien.
Who pays the special assessment when you sell?
Two different sets of rules answer this question: the statute, which decides who the association can collect from, and the purchase contract, which decides how buyer and seller split the cost between themselves.
What the statute says
Under section 718.116, every unit owner is liable for assessments that come due while they own the unit, and a new owner is jointly and severally liable with the previous owner for all unpaid assessments that came due before the transfer of title. In practice, that means the association can look to the buyer for anything the seller left unpaid, so buyers and title companies insist on a current estoppel certificate and pay any past-due balance at closing. Installments that come due after closing are owed by whoever owns the unit when they come due, unless the contract shifts that cost.
What a typical Florida contract says
Most Florida residential sales use forms from Florida Realtors and The Florida Bar, which include a condominium rider. As commonly described, the rider separates assessments that were levied before the contract date, which the seller discloses; assessments that were pending, meaning they appeared on an association agenda or in minutes in the prior twelve months; and assessments imposed after the contract date. For installment assessments, the seller generally pays installments due before closing, and the parties check a box to decide who pays installments due after closing. An undisclosed assessment that existed at the contract date generally falls on the seller. The rider has been revised over time, so the version you sign controls; ask your agent or attorney to walk you through it.
How we handle it
In a direct sale to Libera Capital Group, we spell out the assessment treatment in plain language. Common approaches include paying the remaining assessment in full from your proceeds at closing, or having us assume future installments with the purchase price adjusted to reflect them. If the board has discussed an assessment that has not yet been voted on, we talk about how to account for it before signing, rather than leaving it to argue about later.
Estoppel certificates: the number that controls your closing
An estoppel certificate is the association’s official statement of what is owed on a unit. Title companies rely on it to pay the association at closing, and the association is bound by the amounts it states. Section 718.116 sets the main rules:
- Timing. The association must issue the certificate within 10 business days after a written or electronic request from the owner, a mortgagee or their designee.
- Effective period. A certificate delivered by hand or electronically is effective for 30 days; one sent by regular mail is effective for 35 days.
- Fees. The current inflation-adjusted caps set by DBPR are $299 when no amounts are delinquent, an additional $119 for expedited delivery within 3 business days, and up to an additional $179 when the account is delinquent, with the caps adjusted periodically for inflation. No fee may be charged if the association misses the 10-business-day deadline.
- Special assessment detail. The certificate must itemize all assessments, special assessments and other amounts owed as of its date, as well as amounts scheduled to come due during its effective period.
- Refunds. If the sale does not close, a payor other than the owner may be entitled to a refund of the fee under the conditions the statute sets.
Practical tip: if you are selling a unit with an assessment in progress, ask the management company early how the next installment and any association loan will appear on the estoppel. Surprises on the estoppel are one of the most common reasons condo closings are delayed.
The resale package and the 7-day cancellation right
When a non-developer owner sells a Florida condo, section 718.503 entitles the buyer to a set of documents at the seller’s expense: the declaration, articles of incorporation, bylaws and rules, the annual financial statement and budget, the milestone inspection summary if applicable, the most recent SIRS or a statement that none has been completed, a turnover inspection report where one applies, and the question-and-answer sheet, along with a governance form prepared by the state. HB 913 lengthened the buyer’s window: a contract signed before the buyer receives the documents is voidable by the buyer for 7 days, excluding weekends and legal holidays, after the documents are received, and the buyer can extend closing up to 7 days after receiving them. That right ends at closing, and a contract lacking the required statement is voidable before closing.
For sellers, this means the building’s condition and finances are on the table from the first week. If your SIRS shows a large funding gap or the milestone summary mentions substantial deterioration, many financed buyers will cancel during the review period. A cash buyer who has already reviewed the documents before signing removes that risk.
How buyers and lenders view special assessments
Retail buyers
Most buyers compare total monthly cost, not just price. A unit with a large remaining assessment, a recent dues increase and an association loan on the books competes against units in buildings that have already finished their repairs. Buyers also worry about what has not been assessed yet: whether phase two testing could reveal more damage, whether the roof or windows are next on the SIRS schedule, or whether insurance will rise again.
Mortgage lenders and project reviews
Conventional lenders that sell loans to Fannie Mae or Freddie Mac must review the condo project, not just the borrower. Their guidelines generally treat projects with critical repairs, significant deferred maintenance, unsafe conditions or certain regulatory findings as ineligible until the issues are addressed, and lenders look closely at special assessments, reserves and the association’s insurance. Government loan programs have their own project approval rules. When a building is ineligible, buyers who need a mortgage either cannot buy or must find a portfolio lender with tighter terms. That is why some Florida buildings have temporarily become cash-only markets.
How we value a unit with an assessment
We start with what comparable units sell for in buildings that are in good shape, then account for any remaining assessment balance, higher dues, association debt, the scope and timing of planned repairs, insurance, the unit’s own condition and the time it may take for the building to become financeable again. We share how we got to our number so you can compare it with your alternatives.
Selling with an unpaid or delinquent assessment
If you cannot pay an assessment, act before it becomes a lawsuit. Associations can charge interest and late fees allowed by the statute and documents, record a claim of lien, and eventually foreclose. Before filing a foreclosure, the association must give written notice of its intent to foreclose, and section 718.116 provides that no foreclosure judgment may be entered until at least 45 days after that notice. Associations may also agree to payment plans.
A sale is often the cleanest solution. The delinquent amount, interest, late fees and permitted collection costs are paid from your proceeds at closing, and the lien is released. If the unit is worth less than the mortgage plus the association balance, the sale may require your lender’s approval as a short sale; our guide to short sales and underwater mortgages explains how that works. If a mortgage foreclosure is also pending, our foreclosure page explains the court process.
Why associations push hard on collections
Florida law limits how much a first mortgage lender that takes title through foreclosure must pay toward the prior owner’s unpaid assessments, generally to the lesser of twelve months of regular assessments or one percent of the original mortgage debt, when the association was properly joined in the foreclosure. Because the association may never recover the rest if the unit goes through a bank foreclosure, boards often move quickly to collect. Understanding that dynamic can help you negotiate a payment plan or fee reduction while you sell.
Where assessment pressure is highest in Florida
The buildings most affected share a profile: concrete mid-rise or high-rise construction, three or more habitable stories, 25 to 50 or more years old, close to salt water, and a history of keeping dues low by waiving or underfunding reserves. In Southwest Florida that describes many waterfront and near-beach buildings in Naples, Marco Island, Fort Myers Beach, Bonita Springs and along the Caloosahatchee in Fort Myers, as well as older buildings in Punta Gorda and Venice. Statewide, the same pressures are visible in older coastal towers in Pinellas County and in Miami-Dade County, which also had its own long-standing building recertification program before the statewide law.
Storm damage adds another layer. Buildings that took surge or wind damage from Ian, Helene or Milton may be dealing with insurance deductibles, uninsured repairs and structural work at the same time as their milestone and SIRS obligations; our page on Helene and Milton damage covers that overlap. Newer buildings and low-rise garden communities generally face less pressure from these specific laws, though rising insurance costs affect nearly every association.
Your options, compared
Once an assessment is approved or clearly coming, most owners choose among a few paths: pay it and stay, pay it and then sell, sell on the open market with the assessment disclosed, rent the unit if the association allows, or sell directly to a cash buyer. Here is how listing compares with a direct cash sale for a unit in a building with an active assessment. Figures are typical ranges, not quotes.
| Factor | List with an agent | Sell to Libera Capital Group |
|---|---|---|
| Commission | Often 5–6% of the price | None |
| Assessment handling | Negotiated with each buyer; often a credit or full payoff | Paid from proceeds or assumed with a price adjustment, agreed up front |
| Buyer financing | May fail if the building is not eligible for conventional loans | Cash; no project review |
| 7-day document review | Buyers can cancel after seeing the SIRS or milestone summary | We review documents before we sign |
| Unit repairs and updates | Often expected to compete | None; as-is |
| Carrying costs while marketing | Dues, installments, insurance, utilities, taxes for months | End at closing |
| Typical time to close | Varies widely; slower in buildings with active assessments | Often 2–3 weeks after receiving the documents |
For a broader look at both approaches, see cash offer vs. listing.
How to sell your condo to us
- Tell us about the unit and the building. Call (239) 686-0823 or use the form. Share the building name, the assessment amount and schedule, current dues and anything you know about planned repairs.
- We review the association documents. We look at the budget, milestone summary, SIRS, minutes and any loan or line of credit before making an offer, so the review is behind us, not hanging over the deal.
- You get a written cash offer. It states the price and exactly how the assessment, installments and estoppel balance will be handled.
- Close through a Florida title company. The title company orders the estoppel, satisfies any association approval required by the documents, pays the balance due and closes on the date you choose.
What we buy and related situations
Beyond condominiums, we buy single-family homes, townhomes, villas, small apartment buildings and commercial property, including commercial condominium units. Assessments often coincide with an inherited condo, a move out of state or a rental that no longer pencils out. Learn more about our process on how it works or start at sell my house fast.
Areas we serve
Key takeaways
- Milestone inspections and SIRS apply to condo buildings of three or more habitable stories; repairs from a phase two report must begin within 365 days of the local agency receiving it.
- Since budgets adopted on or after December 31, 2024, most covered associations cannot waive structural reserves, and HB 913 added loan, line-of-credit and limited pause options.
- A new owner is jointly liable for unpaid assessments that came due before closing, so the estoppel balance is paid at closing; the contract decides who pays later installments.
- Buyers now have a 7-day cancellation right after receiving resale documents, including the milestone summary and SIRS.
- A cash sale avoids project-eligibility problems and document-review cancellations.
Frequently Asked Questions about condo special assessments
Our board discussed an assessment but hasn’t voted. Do I need to tell buyers?
Generally, yes. Florida’s standard condo rider asks sellers to disclose pending assessments, which commonly means items that appeared on an association agenda or in minutes during the prior year, and failing to disclose an existing assessment can shift the cost to you. Buyers will also see board minutes in their document review. Ask your attorney how to describe it accurately.
Can I sell before the first installment of the assessment is due?
Yes. Under the statute, assessments are owed by whoever owns the unit when they come due, so installments falling after closing would normally belong to the buyer unless your contract says otherwise. Many buyers will ask for a price reduction or credit to cover them, so expect the assessment to affect price either way.
What’s the difference between a special assessment and a dues increase for reserves?
A special assessment is a one-time charge, sometimes paid in installments, for a stated purpose such as concrete restoration. A dues increase raises the regular monthly or quarterly assessment, often to fund reserves the SIRS requires or to repay an association loan. Both affect a unit’s value, and buyers look at the combined cost.
Our association borrowed money instead of assessing owners. How does that affect a sale?
The loan is the association’s debt, repaid through owners’ assessments over time, so your buyer inherits that obligation through higher dues rather than a lump sum. The financing must be disclosed in the annual financial statement and to prospective buyers. Some buyers prefer a loan to a large assessment; lenders may look at the association’s debt in their project review.
Can the board pause reserve funding to pay for milestone repairs?
Under HB 913, for budgets adopted on or before December 31, 2028, an association that completed a milestone inspection in the prior two calendar years may, with majority approval of the total voting interests, pause or reduce reserve contributions for up to two consecutive annual budgets to fund the recommended repairs. A new SIRS is required before contributions resume.
My condo is only two stories. Can it still have a large special assessment?
Yes. Milestone inspections and SIRS apply to buildings of three or more habitable stories, but any association can levy special assessments for roofs, paving, storm repairs, insurance deductibles, lawsuits or other needs under its governing documents. Two-story communities are also affected by rising insurance and maintenance costs.
Can I refuse to pay an assessment I think is unfair?
Refusing to pay usually leads to interest, late fees, a lien and possibly a foreclosure action by the association. If you believe the assessment was improperly adopted, talk with a Florida community association attorney about challenging it while you pay, or about the state’s complaint and arbitration options. A dispute rarely stops collection on its own.
If the repair costs less than assessed, who gets the leftover money?
Under Florida law, funds left after a special assessment’s stated purposes are completed become common surplus, which the board may return to owners or credit toward future assessments. Whoever owns the unit at that time typically benefits. If that matters to you, your purchase contract can address it, though it is uncommon.
Should I pay off the assessment before I list my condo?
Not necessarily. Paying in full can simplify negotiations with financed buyers, but it ties up your cash and does not change the building issues a lender reviews. If you sell to us, any balance due can simply be paid from your proceeds at closing, or we can take over future installments with the price adjusted. Compare the net results before deciding.
Are you a real estate agent? Who represents me?
The principals of Libera Capital Group are licensed real estate brokers. When we buy, we act only as a principal purchasing for our own account. We do not represent you or any other party, and we do not charge a commission. Libera Capital Group is a DiBe Company. We encourage you to have your own attorney review any contract.
How much will a cash buyer pay for a Florida condo with a special assessment?
A cash offer starts from what comparable units in sound buildings sell for, then subtracts the assessment, repairs and risk. We also account for holding costs, closing costs and any likely future assessments shown in the milestone report or reserve study, and we show you that math in writing. Building age, distance from the coast and reserve funding all move the number.
Can I sell my condo if the building failed its milestone inspection?
Yes, you can sell a unit in a building that needs repairs after a milestone inspection, but the inspection findings must be disclosed. Many lenders won’t finance units in buildings with unresolved structural work, which shrinks the pool of financed buyers. A cash buyer such as Libera Capital Group can buy the unit before the repairs are finished.
Who pays the special assessment when I sell my Florida condo?
It depends on the contract, but installments due before closing are usually paid by the seller. Later installments can be paid off at closing, credited to the buyer, or assumed by the buyer if both sides agree. Read the estoppel certificate and the assessment resolution, and ask the title company or a Florida attorney how your contract allocates each payment.
Can I sell my condo if I can’t afford the special assessment?
Yes; many Florida owners sell because they cannot pay a large assessment, and the unpaid amount is usually settled from the sale proceeds. Waiting can add late fees, interest and eventually an association lien or foreclosure. Getting a written offer early lets you compare selling now against financing the assessment or paying it over time.
How fast can I sell a condo in a building with pending structural repairs?
Often in as little as 7–14 days once the estoppel certificate and title work are ready, since no lender reviews the building. Estoppel timing and any association approval rules can add a few days. If you need longer to move, we can schedule the closing around the assessment installments that work best for you.
Assessment letter on the counter? Get a clear number.
Send us the building, the assessment and your timeline, and we will give you a written cash offer that spells out exactly how the assessment is handled.