As a buyer here in Florida you are entitled to receive a copy of the condo rules and regulations, a condo governance form, a FAQ sheet, and a copy of the current budget to review prior to a purchase. I make sure all of my buyers have what they need to make a good decision prior to purchase.
I would love to assist you with your purchase. You can reach me directly at Kelly@KellyKleinSoldMine.com or call me at 850-420-2480. I run a Buyer's Exclusive Agency representing buyers throughout the entire process. My services are free. I hope to hear from you.
Kelly Klein, Lifeguard Real Estate, Inc.
As someone mentioned earlier, each HOA is different. What I explained is the 'norm'.
Research is important on the HOA. Condo docs are all public information and filed within the county. You need to see the budgets as well as the number of unpaid units and foreclosures in the building. If the HOA is not collecting funds or managing the money properly, it is possible that bills are not paid - electric & water, insurance, contractors, employees. Any of these can file liens and make it impossible to sell your unit, or even have electricity! Pretty detailed stuff. Please be careful. Most are very good and very strong at this time. But there is always a rotten apple around. Contact me with any questions.
Have a great Friday,
Newman-Dailey Resort Properties