Buy the view you love, with a clear understanding of the building's finances, condition and rules.
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Association fees may cover building insurance, exterior maintenance, amenities, landscaping, water, cable or internet, reserves, and more. Ask for the current budget, what is included, fee history and planned increases. A lower fee does not automatically mean a healthier association.
For buildings subject to Florida's milestone inspection and Structural Integrity Reserve Study (SIRS) requirements, request completed reports, repair plans, reserve funding information and board minutes. Applicability and deadlines vary by building and current law; verify with the association and qualified professionals.
Ask about approved, pending or discussed special assessments, deductibles, windstorm coverage, flood coverage, claims history and master-policy details. Understand which interior elements your individual condo policy must cover.
Lenders may review owner occupancy, litigation, deferred maintenance, reserves, insurance and building eligibility. Rental minimums, frequency limits, approval procedures, pet rules and guest policies vary dramatically, especially on Siesta Key, Longboat Key and in downtown Sarasota.
Current budget, financial statements, reserve study, milestone reports if applicable, governing documents, insurance summary, meeting minutes, pending assessments, estoppel information and the association's completed lender questionnaire when needed. Review documents with appropriate legal, insurance and inspection professionals.
Scott and Jan Langa can help you compare neighborhoods, understand the numbers and find a property that fits your goals.
Ask Scott & JanSearch Sarasota-area homesRead client reviewsGeneral educational information, not legal, tax, insurance or lending advice. Confirm current regulations, documents and estimates with qualified professionals.
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