AnswerA special assessment is any charge to unit owners beyond the annual budget, and in Florida a buyer can find out a lot about the risk of one before closing. A resale buyer is entitled, at the seller's expense, to the association's financial statement and budget, the inspector's milestone-inspection summary (if applicable) and the latest structural integrity reserve study (SIRS) or a statement that none has been done (Fla. Stat. § 718.503(2)). The association must also issue an estoppel certificate within 10 business days of a written request, listing assessments and special assessments owed and scheduled to come due (§ 718.116(8)).

That matters because a new owner is jointly and severally liable with the previous owner for unpaid assessments that came due before the transfer (§ 718.116(1)(a)). This is general information, not legal or financial advice. Have a Florida real estate attorney review the documents.

At a glance

Topic What Florida law says Statute
What counts "Special assessment" means any assessment levied against a unit owner other than the assessment required by the annual budget § 718.103
Notice of a vote Written notice of a meeting where a nonemergency special assessment will be considered must be mailed, delivered or e-mailed to unit owners and posted conspicuously at least 14 days before the meeting § 718.112(2)(c)
Your liability A unit owner is liable for assessments that come due while the owner holds title, and jointly and severally with the previous owner for unpaid assessments up to transfer § 718.116(1)(a)
Buyer's documents A resale buyer is entitled to the budget, financial statement, milestone summary (if applicable) and SIRS or a statement that none was completed § 718.503(2)(a)
Estoppel Issued within 10 business days of a written request; must itemize assessments, special assessments and other amounts owed and scheduled § 718.116(8)
SIRS Residential associations must have a SIRS at least every 10 years for each building three habitable stories or taller § 718.112(2)(g)
Milestone inspection Residential condo buildings three habitable stories or taller: inspection by Dec. 31 of the year the building reaches 30 years (25 where the local agency so decides), then every 10 years § 553.899(3)

What the SIRS does and doesn't tell you

The Florida Division of Condominiums describes a SIRS as a budget-planning tool: it looks at the parts of the building the association must maintain, the status of the reserve fund, and the funding needed for anticipated expenses. By statute it is based on a visual inspection and must cover, at minimum:

  • roof;
  • structure, including load-bearing walls and other primary structural members;
  • 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 $25,000 (or the inflation-adjusted amount the division sets), if failing to maintain it negatively affects those systems.

It must be performed or verified by a licensed engineer, a licensed architect, or a certified reserve specialist or professional reserve analyst (§ 718.112(2)(g)). A SIRS does not predict a special assessment. It shows what the study says should be reserved and whether the budget funds it. If the budget doesn't, the gap can be closed by higher regular assessments, a special assessment, a line of credit or a loan.

Reserves, special assessments and loans

  • For budgets adopted on or after December 31, 2024, members of a unit-owner-controlled association that must obtain a SIRS may not vote to provide no reserves or less reserves for the SIRS items (§ 718.112(2)(f)).
  • Reserves for those items may be funded by regular assessments, special assessments, lines of credit or loans, and a special assessment, line of credit or loan for that purpose requires approval by a majority vote of the total voting interests of the association (§ 718.112(2)(f)).
  • For budgets adopted on or before December 31, 2028, an association that completed a milestone inspection within the previous two calendar years may, with a majority vote of the total voting interests, temporarily pause or reduce reserve contributions, for no more than two consecutive annual budgets, to fund repairs the inspection recommended (§ 718.112(2)(f)). A pause can mean larger funding needs later, so ask whether it has happened.
  • A special assessment, line of credit or loan secured for these purposes and its details must be included in the annual financial statement (§ 718.112(2)(f); § 718.111(13)).

The milestone inspection

A milestone inspection (§ 553.899) is an inspection by a licensed engineer or architect of a building's structural condition. A phase one inspection is a visual examination (§ 553.899(7)); a phase two inspection follows if phase one finds signs of substantial structural deterioration. The statute defines "substantial structural deterioration" as substantial structural weakness that negatively affects a building's general structural condition and integrity. It excludes surface imperfections such as cracks, sagging or peeling finishes unless the engineer or architect determines they signal such deterioration. The initial inspection is due by December 31 of the year the building turns 30, based on its certificate of occupancy (25 where the local enforcement agency requires it, for example because of proximity to salt water), and every 10 years after. Buildings that turned 30 before July 1, 2022 had to complete theirs before December 31, 2024. As a resale buyer, you're entitled to the inspector-prepared summary of the report if one applies (§ 718.503(2)(a)). Ask what it found and what repairs it recommended.

The questions to ask, and where the answers live

# Ask Where to look
1 Is any special assessment approved, proposed or on a board agenda? What are the amount for my unit, the due dates and any installment option? Estoppel certificate; board minutes; annual budget and financial statement
2 Who pays assessments already levied or approved at closing, me or the seller? Your purchase contract (have your attorney address it in writing)
3 How old is the building, was a milestone inspection required, and what did the summary say? Milestone-inspection summary (§ 718.503(2)(a))
4 Has the SIRS been completed? When, by whom, and does the budget fund what it recommends? SIRS and budget (§ 718.503(2)(a)); Division SIRS reporting
5 If there is no SIRS, why not? Is one required for this building? Required "statement that the association has not completed a SIRS" (§ 718.503(2)(a)); association
6 Has the board paused or reduced reserve contributions after a milestone inspection? Budget, financial statement, minutes
7 Does the association have a line of credit or loan, and how is it repaid? Annual financial statement (§ 718.111(13))
8 What capital contribution, transfer or other fee is due on sale? Estoppel certificate (§ 718.116(8))
9 What is my unit's share of common expenses, and how would a special assessment be allocated? Declaration of condominium (§ 718.503(2)(a))
10 Is there pending litigation, or insurance that could trigger an assessment (a large deductible, for instance)? Financial statement; minutes; your insurance agent. See luxury condo insurance in South Florida.

Get the estoppel certificate

The estoppel certificate is the association's signed statement of what is owed on a unit and what is scheduled. Under § 718.116(8):

  • the association must issue it within 10 business days after a written or electronic request from the unit owner or the owner's designee, or a unit mortgagee or its designee;
  • the statutory form includes the regular assessment and its paid-through date, an itemized list of all assessments, special assessments and other moneys owed, an itemized list of any additional assessments and special assessments scheduled to become due during the certificate's effective period, whether a capital contribution, resale, transfer or other fee is due, any open rule violation, and whether board approval of the transfer is required;
  • for a unit with no delinquent amounts, the fee may not exceed $250, with an additional $100 if delivered on an expedited basis within three business days; if amounts are delinquent, an additional fee up to $150 may apply.

Those dollar amounts are adjusted for inflation every five years, and the Florida Department of Business and Professional Regulation publishes the current amounts on its website (§ 718.116(8)), so confirm them when you order one. Your buyer's agent or closing agent usually requests it through the seller.

Your rights in the contract

Under § 718.503(2)(d), every resale contract for a residential unit must contain, in conspicuous type, one of two clauses:

  • an acknowledgment that the buyer received the declaration, articles, bylaws and rules, the latest financial statement and budget, and the Frequently Asked Questions and Answers document more than 7 days (excluding Saturdays, Sundays and legal holidays) before signing; or
  • a statement that the agreement is voidable by the buyer by written notice within 7 days (same exclusions) after execution and receipt of those documents if requested in writing, and that any purported waiver of these voidability rights is of no effect.

The milestone summary and SIRS are on the statutory list of what a buyer is entitled to (§ 718.503(2)(a)), but the contract clause names only the core documents. Ask your attorney how the timing applies to your contract.

New construction

If you are buying from a developer, the developer's disclosure must include a copy of the inspector-prepared milestone summary or a conspicuous statement that the required inspection hasn't been completed or isn't required, and a copy of the most recent SIRS or a similar statement (§ 718.503(1)(b)). Read those statements closely, and also see pre-construction vs. resale luxury condos in South Florida.

Find a Florida luxury real estate agent

  • Find a Realtor — the Haute Real Estate Network directory
  • Melissa Barragan — Vice President, Dezer Platinum Realty, Sunny Isles Beach; known for pre-construction in-house development sales at towers including Porsche Design Tower, Residences by Armani/Casa and Bentley Residences
  • Maria Kuzina — Broker/Owner, Miami Luxury Real Estate, Miami Beach; luxury condos and homes in Miami Beach, Fisher Island, Sunny Isles Beach, Bal Harbour, Surfside, Brickell and Downtown Miami

Neither is presented as a legal or financial adviser; use a Florida real estate attorney for the contract and document review.

Related reading

Sources

Statutes checked on flsenate.gov on October 10, 2026.

This article is general information, not legal or financial advice. Have a Florida real estate attorney review the condominium documents and your contract.