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Must Read before Purchasing a Condo in Florida!

Posted 02-02-2024 at 10:19 AM by Sunshine Rules

For those who may not have heard, Florida law now requires certain condominium associations and cooperatives (mainly those with 3 or more stories) to conduct a “milestone inspection” and “structural integrity reserve study” aimed to protect public health, safety, and welfare after the infamous Surfside condo collapse.


Effective as of March 20, 2023, all FL condo sales contracts must now include a condo rider that requires a seller provide a buyer, at the seller’s...
Real Estate Agent
Posted in News
Views 54 Comments 0 Sunshine Rules is online now
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Basic Tips for Condo Shopping in FL

Posted 02-02-2024 at 10:17 AM by Sunshine Rules

There's a whole lot you need to know regarding buying a condo in Florida, but I will try to keep it to some very basic points for now.

Before buying a condo in any community, you will want to see the condo docs -- the Rules & Regulations, Bylaws and voting rights, BUDGETS, Budget Reserves. You'll also want to ask the Board or management company whether there are any current or pending special assessments and/ or lawsuits against the condo association. Knowing how healthy (or not)...
Real Estate Agent
Posted in News
Views 26 Comments 0 Sunshine Rules is online now
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Topic FSBOs Rarely Discuss.....SAFETY

Posted 02-02-2024 at 10:03 AM by Sunshine Rules

There's a topic few people care to bring up when they tell others to "go it alone," FSBO your home. SAFETY.

When a homeowner puts their property on the market without the assistance of a real estate agent, there are no barriers between them and the public -- a public that includes people wanting to take advantage of that lack of barriers. The homeowner is letting complete strangers into their home with little or no verified information about those strangers.

...
Real Estate Agent
Posted in News
Views 40 Comments 0 Sunshine Rules is online now
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Some FL Condos will be Impacted by New FL Law Regarding Inspections, Reserves

Posted 07-14-2022 at 10:37 AM by Sunshine Rules

Live in a Florida Condo? New Law may impact Condo Reserves....Significantly

In light of the tragic Surfside condo collapse in 2021, the FL legislature created Senate Bill 4D in 2022 that was passed & signed into law by Gov DeSantis.

Under the new law condo buildings of 3 stories or more will have to follow new structural reserve requirements and have required, periodic structural inspections once the condo buildings have reached a specified age (30 yrs if away...
Real Estate Agent
Posted in News
Views 73 Comments 0 Sunshine Rules is online now
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New Fees from Fannie Mae & Freddie Mac coming April 1st

Posted 03-29-2022 at 11:46 AM by Sunshine Rules

Both Fannie and Freddie have announced they will be increasing upfront fees on 2nd home mortgages and on mortgages that finance homes with balances that exceed their standard conforming loan limits (higher $$ homes). Those fee increases take effect on April 1st, 2022.

Buyers looking for financing now should contact their mortgage lenders to get updated estimates for these fees so they know how it will impact their finances.
Real Estate Agent
Posted in Uncategorized
Views 63 Comments 0 Sunshine Rules is online now

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