What the two requirements are

A milestone inspection is a structural inspection of the building, performed by a licensed engineer or architect, required for condominium and cooperative buildings of three habitable stories or more once the building reaches a set age and periodically after that. Its purpose is to identify substantial structural deterioration.

A structural integrity reserve study is financial rather than structural: it examines the building's major components — roof, structure, fireproofing, plumbing, electrical, waterproofing, windows, and any item above the cost threshold — and sets out what the association must reserve to maintain them. HB 913 raised that mandatory threshold from $10,000 to $25,000 and now requires the study to include a baseline funding plan showing the reserve balance staying above zero across the funding period.

The deadline has passed, and that matters now

HB 913 extended the SIRS completion deadline to December 31, 2025, and required associations to register with the Division of Condominiums, Timeshares and Mobile Homes and confirm completion through an online account. That deadline is now behind us.

So when a buyer's lender or attorney reviews a building today, the questions are concrete: was the milestone inspection done, was the SIRS completed, what did they find, and what has the association actually funded? A building that has not complied, or that complied and discovered a large shortfall, is in a materially weaker position than one that did the work years ago.

Why this makes units cash-only

Mortgage lenders reviewing a condominium look at the project, not just the unit. They examine reserve funding, the share of owners delinquent on assessments, the proportion of investor-owned units, insurance, litigation, and — since Surfside — deferred maintenance and known structural repair needs.

A building with an unfunded major repair, a special assessment in progress, low reserves, or high delinquency can be declared ineligible. At that point conventional and FHA financing disappear and the only buyers left are paying cash. The unit itself may be in perfect condition; it makes no difference.

What a special assessment does to a seller

Assessments in older coastal buildings have run from manageable to life-changing. An owner on a fixed income facing a five-figure or six-figure assessment on a unit they cannot sell conventionally is in a genuinely difficult position, and it is one of the most common reasons Florida condo owners contact us.

Two practical points. Unpaid assessments and the association's lien are identified in the estoppel certificate and paid from the closing proceeds, so they do not have to be cleared first. And who bears future assessment installments is a contract term — it should be negotiated openly rather than assumed either way.

The estoppel certificate is the pacing item

Florida requires an association to provide an estoppel certificate on request, stating the assessments owed, any special assessments, fines, and other charges. Statutory response deadlines and fee caps apply, but in practice the estoppel is still the single most common reason a Florida condo closing slips.

Request it as early as possible. Where the association also has the right to approve a purchaser, that process runs in parallel and needs to be built into the closing date rather than discovered late.

What we look at on a Florida condo

  • Whether the milestone inspection has been performed, and what it found
  • Whether the SIRS was completed, and what it says about reserve funding
  • Special assessments levied, pending, or discussed
  • Current reserve balances and the association's delinquency rate
  • Pending or threatened litigation involving the association
  • Insurance on the building, including wind coverage and deductibles
  • Whether the association approves purchasers, and any right of first refusal
  • Rental restrictions and minimum lease terms, if the unit is an investment

Frequently asked questions

What is a milestone inspection?

A structural inspection by a licensed engineer or architect, required for Florida condominium and cooperative buildings three habitable stories or more once the building reaches a set age, and periodically after that.

What is a SIRS?

A structural integrity reserve study: an assessment of the building's major components and the reserves needed to maintain them. HB 913 in 2025 extended the completion deadline to December 31, 2025 and raised the mandatory component threshold to $25,000.

Can I sell a condo with a special assessment?

Yes. Unpaid assessments appear on the estoppel certificate and are paid from your closing proceeds. Who bears future installments is a contract term.

Why can nobody get a mortgage on my building?

Lenders review the whole project. Low reserves, high delinquency, an unfunded major repair, litigation, or insurance problems can make a building ineligible, which leaves only cash buyers.

Does the association have to approve the buyer?

Where the declaration requires it, yes, and the closing date has to accommodate that process.

What slows a Florida condo closing down?

Almost always the estoppel certificate turnaround, and any buyer-approval process. Request the estoppel as early as you can.

Sources

This guide is general information, not legal, tax, or financial advice. Laws change and every situation is different, so talk with a qualified Florida professional about yours.