Can I sell a condo with a pending special assessment in Florida, and who pays it?

Your building has announced, or is about to announce, a large special assessment, and you want to sell. You are probably worried that no buyer will touch it, or that you will be stuck paying for repairs you will never use.

Can I sell while a special assessment is pending?

Yes. Florida law does not stop the sale of a condominium unit because an assessment is pending or already levied. What changes is the disclosure and the negotiation.

Who is legally responsible for the assessment?

Under Fla. Stat. 718.116, a unit owner is liable for all assessments that come due while they own the unit, and a new owner is jointly and severally liable with the previous owner for unpaid assessments that came due up to the time of transfer. In practice, the title company collects what is owed to the association at closing, so the buyer is not left with the seller's balance.

So who pays: buyer or seller?

The sales contract decides. Common outcomes:

• The seller pays the assessment in full at closing, or pays the installments due before closing.
• The buyer takes over future installments, often with a lower price or a seller credit.
• A split, negotiated in writing.

Widely used Florida residential contract forms contain a paragraph that allocates special assessments between buyer and seller, and the parties can change it. Read the paragraph your contract uses, and pay attention to the difference between an assessment that has been formally levied and one that has only been discussed.

What will the buyer and title company ask for?

• An estoppel certificate from the association (Fla. Stat. 718.116(8)), stating amounts owed, assessments levied, and upcoming installments.
• The condominium documents and disclosures a resale buyer is entitled to under Fla. Stat. 718.503, which can include recent inspection and reserve information.
• In an HOA community rather than a condominium, the disclosure summary under Fla. Stat. 720.401 and an estoppel certificate under Fla. Stat. 720.30851.

How does an assessment affect the price?

Buyers compare your unit with others in buildings without the same bill. Many price the assessment in. Knowing the exact figure and schedule from the association lets you decide whether to pay it, credit it, or price around it, rather than having a buyer decide for you.

This page states general Florida law and is not legal advice. Rely on a Florida-licensed attorney for advice about your situation.