FLORIDA CONDOMINIUMS - WHAT YOU NEED TO KNOW WHEN SELLING!
Florida condominiums come in all sizes from the multi story high rise to the two story walk up. They can be located inland, on a golf course or on the beach.
It does not matter where they are located or what they look like a condominium is a form of ownership giving the owner the exclusive use of their unit plus an undivided share of the common elements along with other unit owners.
Florida leads the world in the number of condominiums and has over 50% of the condominiums in the United States.
When listing a condominium for sale in Florida there is a number of items to remember:
- State your total assessment fees accurately (i.e. maintenance fees, condo fees or association fees)
- Fees change annually, not necessarily on January 1st of each year.
- Clearly state what furnishings convey in the sale - hide or remove the items that will not remain.
- Almost all new condominiums are sold unfurnished.
- Almost all vacation home condominiums are sold furnished.
- Easiest way to sell: "What You See Is What You Get" - providing the prospective buyer a list of non-conveying items is a big turnoff.
- Determine if the condominium is affected by the Coastal Construction Control Line, if so disclose this to the buyer in writing.
- When listing a condo for sale have on hand the condominium associations year-end financial report and condo documents for the new buyer. These include but not limited to: The Declaration of Convenants, Articles of Incorporation, Bylaws and Rules of the Association, a copy of the most recent Year-End Financial Information, and Frequently Asked Questions and Answers report.
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