Kareme ShorterMortgage Loan Originator · NMLS #1722684

Guide 03

Why Florida condos take extra work

Buying a condo in Florida means looking at the building as well as the unit. Here's what I check before you fall in love with a place.

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1. Is the budget healthy?

I look at whether the condo association's budget is healthy and realistic for the building.

2. A closer look at reserves

Florida's newer condo safety rules mean reserve funding gets a closer look than it used to.

3. Inspection reports matter

Where required, milestone and structural inspection reports matter to lenders.

4. The master policy

The building's master insurance policy has to meet lender requirements, too.

5. Call me before you offer

None of this has to be stressful. It just means we should talk before you make an offer, so we know the building works for your loan.

The Florida rules behind this

  • Milestone inspections: under section 553.899, Florida Statutes, condo buildings three or more habitable stories tall generally need a milestone inspection by December 31 of the year the building reaches 30 years from its certificate of occupancy, then every 10 years. Local programs can be stricter; Broward County's building safety inspection program starts at 25 years.
  • Reserve studies (SIRS): associations for buildings three or more habitable stories tall must have a structural integrity reserve study at least every 10 years, and reserves for the items it covers can't be waived.
  • Recent changes: these rules came from the 2022 condo safety law (SB 4-D) and later updates, most recently HB 913 in 2025.

What applies depends on the building. This is general information, not legal advice.

Checked October 16, 2026. Sources: s. 553.899, F.S. · Florida DBPR condo FAQs · HB 913 (2025)

General information, not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, property eligibility and program availability.

The slides

The same walk-through as a swipeable set of slides.

  • Slide 1: Why Florida Condos Take Extra Work. What I check before you fall in love with a unit.
  • Slide 2: Is the Budget Healthy? Whether the condo association's budget is healthy and realistic for the building.
  • Slide 3: A Closer Look at Reserves. Florida's newer condo safety rules mean reserve funding gets a closer look.
  • Slide 4: Inspection Reports Matter. Where required, milestone and structural inspection reports matter to lenders.
  • Slide 5: The Master Policy. The building's master insurance policy has to meet lender requirements, too.
  • Slide 6: Call Me Before You Offer. Talk to me before you make an offer, so we know the building works for your loan.
  • Slide 7: Questions about buying in South Florida? Call or text (954) 913-7865. Kareme Shorter, NMLS #1722684, Ascension Mortgage, Company NMLS #2511500, Equal Housing Opportunity.