Thinking of Selling your Florida Condominium; did you know there are some important documents that you should be sharing with potential Buyers?  That's right, in Florida, a potential Buyer may have 3 days to cancel a Sales Contract after reviewing certain condo documents...

Here's a sample of the language found in some of these forms: 

THIS AGREEMENT IS VOIDABLE BY BUYER BY DELIVERING WRITTEN NOTICE OF THE BUYER'S INTENTION TO CANCEL WITHIN 3 DAYS, EXCLUDING SATURDAYS, SUNDAYS, AND LEGAL HOLIDAYS,
AFTER THE DATE OF EXECUTION OF THIS AGREEMENT BY THE BUYER AND RECEIPT BY BUYER OF A CURRENT COPY OF THE DECLARATION OF CONDOMINIUM, ARTICLES OF INCORPORATION, BYLAWS AND
RULES OF THE ASSOCIATION, AND A COPY OF THE MOST RECENT YEAR-END FINANCIAL INFORMATION AND FREQUENTLY ASKED QUESTIONS AND ANSWERS DOCUMENT IF SO REQUESTED IN WRITING. ANY
PURPORTED WAIVER OF THESE VOIDABILITY RIGHTS SHALL BE OF NO EFFECT...

And some Condo Associations require approval of Buyers or may even have first right of refusal to purchase the unit... it is also important to disclose the fees, assessments and prorations, or any litigation the Association is a part of.

 

Below is a sample of the FAQ Sheet that is available to licensed Real Estate Professionals to disseminate to Sellers and Buyers.  Along with this FAQ Sheet form, an Agent will also have access to other important forms like:

CONDOMINIUM RIDER

CONDOMINIUM GOVERNANCE FORM

Seller's Property Disclosure - Condominium

Receipt of Condominium / Cooperative Documents

 

 

Sample Form

FREQUENTLY ASKED QUESTIONS AND ANSWERS SHEET

 

Name of Condominium Association_________________________       As Of ____________________________________

Q: What are my voting rights in the condominium association?

A:

Q: What restrictions exist in the condominium documents on my right to use my unit?

A:

Q: What restrictions exist in the condominium document on the leasing of my unit?

A:

Q: How much are my assessments to the condominium association for my unit type and when are they due?

A:

Q: Do I have to be a member in any other association? If so, what is the name of the association and what are my voting rights in this association? Also, how much are my assessments?

A:

Q: Am I required to pay rent or land use fees for recreational or other commonly used facilities? If so, how much am I obligated to pay annually?

A:

Q:  Is the condominium association or other mandatory membership association involved in any court cases in which it may face liability in excess of $100,000? If so, identify each such case.

A:

Note:  THE STATEMENTS CONTAINED HEREIN ARE ONLY SUMMARY IN NATURE. A PROSPECTIVE PURCHASER SHOULD REFER TO ALL REFERENCES, EXHIBITS HERETO, THE SALES CONTRACT, AND THE CONDOMINIUM DOCUMENTS.

 

If you think you might need the assistance of a Professional Real Estate Agent to represent you in the Listing and/or Selling of your condominium property, I would love the opportunity to interview for the job.  Be sure to go check out my Preferred Smart Seller Commission Menu of Options and give me a call to set up an appointment to discuss. 

There's a lot that goes into Selling a Condominium, as a Professional I would be happy to have a conversation with you and help explain.  Feel free to give me a call or text me on my cell phone at 352-279-3522 or email me at MBrewer@PPArealty.com