Florida Condo Buyers Are Now Demanding Financial Records Before Making an Offer

Written by:

Alejandra Rodriguez

Date:

18 Jun 2026

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A few years ago, making an offer on a Florida condo meant reviewing the listing, scheduling a showing, and negotiating a price. Today, buyers are asking for the association’s budget, the latest financial statements, and a structural integrity report – before they even submit an offer.

That change is real and accelerating, according to Denis Kersaint, a licensed real estate salesperson with Signature International Real Estate who focuses on 55-plus communities in Pembroke Pines. He says the shift in buyer behavior is one of the most notable developments he has seen in recent transactions.

Surfside Changed Everything

The catalyst is clear. The Surfside collapse in 2021, which killed 98 people when a beachside condo tower crumbled, set off a chain of legislative responses across Florida. New state laws now require condo associations to conduct structural integrity reserve studies and fund reserves accordingly, requirements that have driven up association fees in many buildings and forced some communities to levy special assessments to cover deferred maintenance. The financial consequences of those laws are still working through the market, making this a pressing concern for anyone buying a condo in South Florida today.

Buyers have taken notice. Kersaint says that whether a buyer is working independently or with an agent, the requests are now consistent: show me the budget, the financial statements, the structural report, and any pending assessments before we go further.”Everyone is now requesting a copy of the budget, the latest financial statement, the structural integrity report, even before making an offer,” Kersaint said.

Due Diligence Moved Earlier

This is a meaningful departure from how condo purchases typically worked. Financial due diligence used to happen after a contract was signed, during the inspection and review period. Now it is happening at the front end, before the buyer is legally committed to anything. That gives buyers more leverage and more time to walk away cleanly, but it also adds complexity to the early stages of a transaction.

For sellers, the implication is direct: the financial health of the association is now part of what you are selling. A unit in a well-managed building with healthy reserves and no pending assessments is a materially different product than an identical unit in a building with deferred maintenance and a looming special assessment. Buyers are making that distinction explicitly, and they have the tools to do it.

Fixed-Income Residents

Kersaint notes that Century Village, the large 55-plus community in Pembroke Pines where he works, has been well-managed in terms of its reserves. But he is clear that rising fees still create real pressure on residents, most of whom are retired and living on fixed incomes. When association costs climb, the burden falls hardest on people who cannot absorb it by earning more.

That tension – between the cost of bringing older buildings into compliance and the financial limits of the residents who live in them – is not going away. Buildings that deferred maintenance for years are now being forced to address it, and the bills are arriving as higher monthly fees or one-time assessments. Buyers who skip the financial review are taking on that risk without knowing it.

Read the Reserve Study

The practical upshot for anyone shopping for a condo in South Florida right now is that the association’s finances deserve as much attention as the unit itself. A low purchase price means little if a $15,000 special assessment is coming in the next 18 months. Reviewing the reserve study, which associations are now required to have, can tell you whether the building is adequately funded or running a deficit that will eventually fall on the owners.

Lenders are paying attention too. Some mortgage products require a review of the association’s financials as part of the approval process, and buildings with significant deferred maintenance or underfunded reserves can affect loan eligibility. That is an added layer of risk for buyers who do not do the homework early.

Refusal to Share Is a Red Flag

One thing worth knowing as you start your search: you can request association financial documents before making an offer, and a seller who refuses to provide them is telling you something. In the current Florida condo market, transparency about building finances is not optional; it is the baseline expectation.

Looking ahead, this dynamic is likely to intensify. As more buildings complete their required reserve studies and the full scope of deferred maintenance becomes visible, buyers will have even more data to compare buildings. Associations that invested early in structural upkeep and transparent financial management will see that reflected in unit values. Those that delayed will face a harder sales environment, and owners in those buildings may find that the real cost of deferred maintenance is not just the assessment itself, but the discount buyers demand to take on the risk.

About the Expert: Denis Kersaint is a licensed real estate salesperson with Signature International Real Estate, specializing in active adult communities in Pembroke Pines, Florida, with a primary focus on Century Village.

This article is intended for informational purposes only and does not constitute legal, financial, or investment advice. The views and opinions expressed herein reflect those of the individuals quoted and do not represent an endorsement of any company, product, or service mentioned. Readers should conduct their own due diligence and consult qualified professionals before making any investment decisions.