A required field in our MLS is the association manager. Your agent should be able to help you with this. Also, by law, you have 3 days to review the condo docs, q & a sheet and the budget. since you also have to apply to the association, you can ask them the hard queswtions if you get that far.
If you don't have an agent, I will be happy to help.
Marge Bennett
Sellstate Achievers Realty Network
239-560-4159

You can check their Corporate Status as registered with the

State of Florida here:

http://ccfcorp.dos.state.fl.us/


Contracts for Condominiums in Florida must include this Disclosure:

http://www.leg.state.fl.us/STATUTES/index.cfm?App_mode=Displ…


National Association of Realtors has a good Condo FAQ Page

http://www.realtor.org/toolkits/consumere07


Florida Association of Realtors has a good Condo Page:

http://www.floridarealtors.org/LegalCenter/AskanAttorney/Con…


The Sun-Sentinel had an interesting Condo Article last month:

http://www.sun-sentinel.com/business/sfl-insuring-empty-hous…


Troubling Article in today's Orlando Sentinel:

http://www.orlandosentinel.com/news/local/breakingnews/orl-a…


The Florida Statutes Chapter 718 Condominiums:

http://www.flsenate.gov/Statutes/index.cfm?App_mode=Display_…

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*** As said by previous posters: have the project reviewed by a CPA and an Attorney.

You cannot be too careful.


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Best wishes to you,
Fred
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YES GERRY exactly!!!

I can not help you in the areas you ask about as I do not work them (too far North).

What I suggest is that you find you a good local agent, comb through the docs as the other two answer suggest.

It a very ugly market and you need local knowledge, and a fine tooth comb to go throught the docs.
you may want to hire a CPA to evaluate same.

John

Gerry,
This is a great question. Just as Susan mentioned, there are associations that are struggling right now and others (usually more established) that are doing fine. A local real estate professional can assist you in obtaining the needed documents so you are able to make an informed decision.

Kimberly Lang
Keller Williams Elite Realty
239-677-8780
Kimberly@KimberlyLang.net
http://www.SWFloridaHomeSearch.com

Dear Gerry,
I can understand your concern and you're wise to feel that way. Many of the newer developments have issues with funding reserves, some developments are still managed by the builder and owners can be unsure of what the future monthly fees will be when the management is turned over to the association.

You have the right to get copies of the condominium rules, regulations, and budget information prior to committing to a purchase. I suggest that you work with a Realtor that in knowledgable in the area and can provide you with information about the developments.

I have a great condo for sale in a small association of only 8 units. The association is very healthy and the building and grounds are beautifully maintained. Feel free to see the property at the link below.

Also, I welcome any questions you might have and offer my services, should you be interested in Cape Coral and Fort Myers.

Susan Ball