Blog · Nov. 3, 2026

Buying a Florida Condo: How to Review Milestone Inspections, Reserve Studies and Special Assessments

Florida's post-Surfside condo laws give buyers more information than ever, if you know what to ask for. This guide covers milestone inspections, reserve studies and the documents you should review before your cancellation window closes.

By Lorena Moscoso, Realtor®

Art deco buildings and the beachfront path in South Beach, Miami

Why condo rules changed, and why it matters to buyers

After the 2021 Surfside collapse, Florida passed Senate Bill 4-D in May 2022. It created required structural inspections for condominium and cooperative buildings. In 2025, the Legislature revised those rules again in CS/CS/HB 913. Many of its provisions took effect July 1, 2025.

For buyers in Miami, Boca Raton, Highland Beach, Orlando or Kissimmee, the practical result is more paperwork, and that paperwork can be useful. The state's Division of Florida Condominiums, Timeshares and Mobile Homes (part of DBPR) says structural inspection reports and reserve studies must be part of the association's official records and must be provided to people buying a unit. Reading those documents carefully can tell you a lot about a building's condition and about costs you may face later.

Milestone inspections: what they are and when they happen

A milestone inspection is a structural review done by a Florida-licensed architect or engineer. According to the Village of Tequesta's summary of section 553.899, Florida Statutes, the first one is generally due by December 31 of the year a covered building turns 30, and again every 10 years after that. HB 913 narrowed the rule to buildings with three or more habitable stories.

The original law set an earlier 25-year deadline for buildings within three miles of a coastline. Sources describe how that coastal rule applies today in different ways, and local building departments can set their own requirements. If you're looking at a coastal South Florida building, confirm its schedule with the city or county building department.

The inspection has two phases. Phase one is a visual review of major structural parts. A more detailed phase two follows only if the engineer finds signs of significant deterioration. DBPR says repairs identified in a phase two inspection must begin within 365 days of the report unless the local government requires an earlier start. Some cities set their own repair deadlines. Delray Beach, for example, lists a 180-day completion period unless its building official allows otherwise. Timelines vary by location.

Structural integrity reserve studies (SIRS) and reserves

A SIRS estimates what the association needs to save for major structural parts of the building. DBPR says associations covered by the rule may not waive these reserves or use them for other purposes. The covered items include the roof, structure and load-bearing walls, fireproofing and fire protection, plumbing, electrical, waterproofing and exterior painting, and windows and exterior doors. Any other item costing more than $25,000 to maintain or replace whose failure would affect those systems is also covered.

Under HB 913, the deadline for the first SIRS moved to December 31, 2025, and a new SIRS is required at least every 10 years. An association that has finished its milestone inspection may delay its SIRS for up to two consecutive budget years so it can put money toward the repairs that inspection found. If you're buying today, ask whether the building has a current SIRS, a deferral, or neither.

Understanding special assessments and fee increases

When a building needs repairs or has to build up its reserves, owners usually pay through higher monthly fees, special assessments, or both. Higher fees aren't automatically a bad sign. A building that is funding its reserves as planned may be better prepared than one with low fees and no plan. Still, fees and assessments affect your monthly budget and can affect whether you qualify for a loan.

Checklist of questions to ask the association or the seller:

Has a milestone inspection been completed, and did it lead to a phase two inspection?

Is any structural repair work planned or underway, and how will it be paid for?

Are any special assessments approved or under discussion? Board meeting minutes often show these early.

How do current reserve balances compare with the schedule in the SIRS?

What are the current monthly fees, and have they changed recently?

The documents you are entitled to and your cancellation window

Section 718.503, Florida Statutes, lists the documents a resale buyer is entitled to receive. They include the declaration, articles, bylaws and rules, the annual financial statement and budget, and the Frequently Asked Questions and Answers sheet. Where they apply, the buyer also gets the summary of the milestone inspection report and the most recent SIRS, or a statement that no SIRS has been completed.

On most resale purchases, the statute gives you 7 days, not counting weekends and legal holidays, to cancel in writing after you receive all the required documents. On many new-construction sales from a developer, the period is 15 days. Attorneys note that the clock generally starts only once you have the complete package. Keep a dated record of what you received and when.

Practical steps: request the documents as soon as your contract is signed, read the financial statements and inspection summaries first, and ask a licensed Florida real estate attorney to explain anything unclear before the deadline. If you're financing, ask your lender early whether the building's inspection status, reserves or pending assessments could affect your loan approval.

Before you make an offer

Find out the building's certificate of occupancy date so you know when its milestone inspection is or was due. Ask for recent board minutes, and plan for your own budget to absorb possible fee changes. Rules continue to change, so check the DBPR condominium resources site for current guidance, and confirm local requirements with the city or county.

If you're thinking about buying a condo in Central or South Florida and would like help reviewing your options, contact Lorena Moscoso with Signature International Real Estate in English or Spanish.

Sources

This article was prepared with AI assistance from the public sources listed. It is general market information, not legal, tax or investment advice, and figures may have changed.

← All articles