What Is the Florida Condo Resale Package?
The Florida condominium resale package—also called the disclosure package or disclosure documents—is a mandatory collection of records the seller's association must provide to the buyer before closing. Florida Statute 718.503 requires this package to be delivered at least 5 days before closing, giving buyers time to review the association's financial health, rules, and obligations. The disclosure package is not optional; it is a legal requirement that protects buyers from inheriting undisclosed liabilities or surprise special assessments.
- The disclosure package is the same as the resale package or disclosure documents—all three terms describe the same mandatory seller-provided stack
- Delivery must occur at least 5 days before closing; buyers can extend the closing date if they need more time to review
- Failure to provide the disclosure package on time is a violation of Florida law and gives buyers grounds to delay or renegotiate the deal
Core Documents in the Disclosure Package
Florida law specifies which documents must be included in the resale package. These include the association's governing documents (bylaws, declaration, rules), current financial statements, reserve study, and meeting minutes. Each document serves a specific purpose: bylaws tell you what the association can enforce, financials show whether the association is solvent or planning a special assessment, and the reserve study indicates whether the association is adequately funded for major repairs. Missing or outdated documents are a red flag.
- Bylaws, declaration, and rules: Define what you can and cannot do with your unit, what fees you owe, and what the association can enforce
- Current financial statements and budget: Show the association's income, expenses, reserves, and whether a special assessment is planned
- Reserve study: Estimates the cost of major repairs (roof, foundation, parking) and whether the association has enough money set aside
- Meeting minutes (usually 1 year): Reveal ongoing disputes, special assessments, or enforcement actions the association is pursuing
What to Check in Your Disclosure Documents
Reviewing the disclosure package is not just a formality—it is your chance to identify financial problems, enforcement trends, or rule violations that could affect your ownership. Look for signs of underfunding, pending litigation, or frequent rule violations. If the association is planning a special assessment or has a history of aggressive enforcement, you need to know before you close. Many buyers skip this step and later discover they bought into an association with serious problems.
- Reserve funding: Is the reserve study showing the association is less than 70% funded? Low reserves often lead to special assessments
- Special assessments: Check meeting minutes and financial statements for any planned or recent special assessments
- Enforcement actions: Review meeting minutes for patterns of fines, violations, or disputes; this shows the association's enforcement culture
- Delinquent accounts: The financial statement should show how many owners are behind on fees; high delinquency can strain the association
Your Rights and Timeline as a Buyer
Florida law gives buyers specific rights during the resale process. You have at least 5 days to review the disclosure package, and you can negotiate based on what you find. If the disclosure documents reveal problems—such as underfunding, pending litigation, or a planned special assessment—you can ask the seller to repair the issue, reduce the price, or you can walk away without penalty if you are still in your inspection period. Understanding your timeline and rights prevents you from being rushed into a bad decision.
- You must receive the disclosure package at least 5 days before closing; request it as soon as your offer is accepted
- If you find problems in the disclosure documents, you can renegotiate the purchase price, ask the seller to pay for repairs, or extend your inspection period
- If the disclosure package is not provided on time, you can delay closing or cancel the contract without penalty in many cases
- Work with your real estate agent or attorney to flag concerns and negotiate remedies before you remove your contingencies
Common Gaps and Red Flags in Resale Packages
Not all disclosure packages are complete or current. Sellers sometimes provide outdated financial statements, incomplete meeting minutes, or missing reserve studies. Buyers who do not catch these gaps may discover too late that the association is in worse financial shape than disclosed. Red flags include missing documents, financial statements older than 6 months, or a reserve study that is more than 3 years old. If your disclosure package feels incomplete, ask for updated or missing documents before you close.
- Missing or outdated reserve study: A reserve study older than 3 years may not reflect current repair costs or funding needs
- Financial statements older than 6 months: Outdated financials do not show recent special assessments or changes in the association's health
- Incomplete meeting minutes: If minutes are missing or do not cover the past 12 months, you cannot see recent enforcement trends or disputes
- No disclosure of pending litigation: If the association is involved in a lawsuit, it must be disclosed; omission is a legal violation
How ScoutReport Helps You Review Your Resale Package
Reviewing a condo resale package can be overwhelming—disclosure documents often run 50+ pages, and spotting gaps or inconsistencies takes time. ScoutReport is designed to help you organize and analyze your disclosure package so you can see what you have, what is missing, and what stands out before you remove your contingencies. By uploading your resale package to ScoutReport, you get a structured summary that maps required condo association disclosure items to the files you provide, so you can quickly identify gaps and flag concerns for your agent or attorney.
- Upload your disclosure package: Add your resale documents to ScoutReport and let it extract and organize the key items (financials, bylaws, reserve study, meeting minutes) into a labeled summary
- See gaps at a glance: ScoutReport flags missing or outdated documents so you know exactly what to request from the seller before closing
- Review findings and verify: You review the extracted items, compare them against the checklist of required documents, and decide whether to renegotiate or proceed—the analysis saves you hours of manual review
- StreetScout fits this workflow: ScoutReport maps required condo association disclosure items to the files you upload so you can see gaps before you remove contingencies. When you move from reading to action, StreetScout keeps summaries, drafts, and uploaded governing documents in one place so you are not re-explaining context at every step.
