The extra bill beyond regular dues, and the defining risk in today's Florida condo market.
Florida's post-Surfside laws forced two reckonings at once: mandatory structural inspection (milestone) and mandatory reserve funding (SIRS). Buildings that had waived reserves for decades met their real repair lists with empty accounts, and the funding gap arrives as special assessments. Layer the insurance market of recent years on top and multi-thousand-dollar assessments became routine in older coastal stock — the market-wide record is on our condo assessments page.
Three documents tell the truth: the estoppel certificate (legally binding statement of open assessments on the unit), the current budget with the SIRS, and recent board meeting minutes — where assessments under discussion but not yet levied appear first. The seller's disclosure and the association Q&A sheet round it out. An assessment 'being discussed' is not on the estoppel, which is exactly why minutes matter.
Levied assessments are handled in the contract: paid off by the seller at closing, assumed by the buyer with a price adjustment, or split — every form is negotiable. Future, not-yet-levied risk is negotiated through price. The one unforgivable version is the assessment nobody checked for.
Talk to Jon or Brittany directly. We'll answer specific questions or connect you with the right Momentum agent.
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