What Is the Florida Condo Resale Package?
In Florida, when you buy a condo, the seller must provide a resale disclosure package (also called a disclosure document or disclosure documents) within a specific timeframe. This packet contains the official records the condo association is required by law to share, and it's your window into the building's financial health, rules, and obligations.
- The resale package is governed by Florida Statute 718.503 and must be delivered before you're obligated to close.
- It includes the condo's bylaws, rules, financial statements, reserve study, and the resale certificate—a summary of special assessments and pending litigation.
- Missing or incomplete disclosure documents can give you grounds to terminate the contract or delay closing until items arrive.
Core Documents in the Resale Disclosure Package
Each document in the resale package serves a different purpose. Understanding what each one tells you helps you spot red flags before you commit to the purchase.
- Bylaws and Rules: Define how the association operates, what you can and cannot do in your unit, and what fees or fines apply. Check for restrictions on pets, rentals, exterior modifications, and landscaping.
- Financial Statements and Budget: Show the condo's income, expenses, and reserve funding. A severely underfunded reserve or repeated special assessments signal future cost increases.
- Resale Certificate: Lists all special assessments (past and pending), litigation involving the association, and insurance details. This is often the first place buyers discover surprise bills.
- Reserve Study: A professional assessment of the building's major systems (roof, foundation, HVAC, etc.) and their remaining useful life. It informs whether the reserve fund is adequate.
Timeline and Contingency Deadlines
Florida law gives you a window to review the disclosure package, but the clock starts immediately after the seller delivers it. Missing the deadline can waive your right to terminate the contract based on disclosure issues.
- You typically have 5–7 days (depending on your contract) to review the disclosure package after it's delivered. Confirm the exact deadline in your purchase agreement.
- If the seller fails to deliver the package on time, you can extend your contingency period or terminate the contract without penalty.
- Do not remove your HOA contingency until you've reviewed the entire package and confirmed there are no undisclosed special assessments, pending litigation, or reserve funding gaps that concern you.
Red Flags in the Disclosure Package
Certain patterns in the disclosure documents warrant extra scrutiny or a conversation with your real estate agent or attorney before you proceed.
- Multiple special assessments in the past 3–5 years or a pending special assessment not yet billed to owners—these signal ongoing funding shortfalls.
- A reserve study showing the reserve fund is less than 70% funded, or a budget that allocates less than 10% to reserves.
- Pending litigation against the association or individual owners, or a history of enforcement actions (fines, liens) that suggests strict rule enforcement.
- Restrictive rules on rentals, short-term leases, or exterior modifications that may limit your ability to use or resell the unit later.
How StreetScout Fits This Checklist
Reviewing a complete condo resale disclosure package can feel overwhelming—the documents are dense, cross-references are easy to miss, and spotting gaps between what the law requires and what you actually received takes time. ScoutReport is designed to turn that stack into a clear, labeled summary so you can see exactly what you have and what's missing before you remove contingencies.
- Upload your resale disclosure package (PDFs, images, or scans) to ScoutReport and the tool extracts and maps required condo association disclosure items—bylaws, financial statements, reserve study, resale certificate—against what Florida law mandates.
- ScoutReport flags gaps, missing documents, and key findings (special assessments, reserve funding levels, pending litigation) with page references so you know where to look in the original files.
- You review the findings, verify them against the source documents, and decide whether to ask the seller for clarification, request missing items, or renegotiate before closing. The structured summary saves hours of manual cross-checking.