Are buyers asking tough questions about your condo’s reserves and inspections? You are not alone. In Tampa, buyers and lenders now expect clear answers on association finances and building safety, and they want the paperwork to back it up. In this guide, you will learn which documents to share early, how Florida timelines and fees work, and simple steps to keep your sale on track. Let’s dive in.
Why reserve docs matter now
Florida strengthened condo disclosure and reserve rules after Surfside. For many buildings, results from Structural Integrity Reserve Studies, called SIRS, and milestone inspections affect reserves, assessments, insurance, and financing. When you provide these materials upfront, buyers feel confident and lenders can underwrite faster, which reduces surprises and renegotiations. See the resale disclosure rule in Florida Statutes section 718.503 and reserve and SIRS rules in section 718.112.
What to share early
Give buyers a complete, organized resale packet. Florida law lists key items for resales, and many lenders will ask for more. Start with these:
- Governing documents. Declaration, articles, bylaws, and rules. Buyers need to see use and lease rules, pet policies, and maintenance duties. Required under section 718.503.
- Financial statement and current budget. Shows operating health and reserve balances. Required under section 718.503.
- Estoppel certificate. The association’s official statement of amounts due, fees, and violations. It must be issued within 10 business days of a proper request, with fee caps. See section 718.116.
- SIRS and milestone inspection summary. For buildings three stories or higher, provide the latest SIRS and any milestone inspection summary, or a written statement if not completed. See section 718.112.
- Reserve details. Current reserve balances and any board votes about reserve funding. SIRS recommendations drive structural reserve items under section 718.112.
- Association insurance. Master policy certificate and coverage summary for lender review. Estoppel forms often note the insurer, but include the COI directly. See fee and delivery rules in section 718.116.
- Recent board minutes and litigation notices. Minutes help buyers understand upcoming projects and assessments. Include any known litigation notices. DBPR consumer materials outline governance basics on the CTMH forms and publications page.
- DBPR consumer forms. Include the association FAQ sheet and the Condominium Governance Form. Find them on DBPR’s site and the CTMH portal at condos.myfloridalicense.com.
Tip: Create one digital folder with PDFs. Label each file clearly. Redact personal account numbers.
Tampa timing and fees
- Estoppel turnaround. Associations must deliver an estoppel within 10 business days of a written or electronic request. If they miss the deadline, they may lose the right to charge the fee. Certificates stay effective for a set period after issuance. See section 718.116.
- Who pays. Sellers often pay the estoppel as a closing cost, but contracts can allocate this either way. Fee caps apply by statute. See section 718.116.
- SIRS availability. Many associations completed initial SIRS and milestone work in recent cycles. If your building is still scheduling, expect delays, especially for older towers. If a required study is not done, that fact must be disclosed. See section 718.112.
Lender and title impacts
- Mortgage underwriting. Conventional, FHA, VA, and other lenders review project health. Significant unfunded repairs or “critical” issues in a SIRS or milestone report can affect project eligibility. Early access to the documents lets underwriters decide conditions sooner. Learn why recent changes matter in Florida’s Chapter 718 overview.
- Title and closing. Title companies rely on the estoppel to clear dues and fees. Late or inaccurate estoppels can push closing dates or change final figures. Order early to avoid last‑minute stress.
Step-by-step seller checklist
Make your sale smoother
Selling a Tampa condo is easier when you answer the big questions upfront. Sharing reserves, inspections, and financials early builds trust, shortens loan review, and keeps your closing on schedule. If you want a customized plan for your building and association, reach out to Mashonda Smith for a quick strategy call.
FAQs
What documents do Tampa condo sellers need to give buyers?
- Provide governing documents, the latest financial statement and budget, an estoppel certificate, any available SIRS or milestone inspection summary, reserve details, association insurance, recent minutes or litigation notices, and DBPR consumer forms as outlined in sections 718.503, 718.112, and 718.116.
How fast must a Florida condo association deliver an estoppel?
- Within 10 business days of a proper written or electronic request, with statutory fee caps and an effective period for the certificate under section 718.116.
Does a three-story Tampa condo need a SIRS or milestone inspection?
- Many buildings three stories or higher must comply with SIRS and milestone inspection rules, and you must disclose whether the study or inspection is completed under section 718.112.
Who typically pays the estoppel fee in a Tampa condo sale?
- It is commonly a seller cost, but the purchase contract can allocate payment either way, and fee caps apply under section 718.116.
Can SIRS findings affect a buyer’s loan approval?
- Yes, significant unfunded repairs or critical issues can impact project eligibility for many lenders, so sharing SIRS and milestone details early helps underwriting as noted in Florida’s Chapter 718 overview.
