Selling a condominium is not just a financial transaction—it’s a process that requires trust, transparency, and compliance with legal obligations. Eric Glazer’s insightful blog, “So You Want to Sell Your Condominium Unit?”, emphasizes the crucial role of transparency in ensuring a smooth and successful sale.
Under Florida Statute 718.503(2)(a), sellers must provide prospective buyers with detailed information, including essential documents such as the condominium declaration and structural integrity reserve studies. While the documentation might seem extensive, these disclosures protect both buyers and sellers, fostering trust and avoiding future disputes.
Why Transparency Is Essential
Transparency does more than meet legal requirements—it reassures buyers about the community’s governance and stability. A well-prepared seller demonstrates integrity and builds confidence, setting the stage for a positive relationship with the buyer.
Providing an organized set of documents also highlights the strengths of your community association. Buyers can feel confident in the community’s financial health and management practices, which can positively impact property values.
How Boards and Managers Can Facilitate the Process
Condominium boards and property managers play a pivotal role in supporting transparency. By keeping records updated and accessible, they make it easier for sellers to meet their obligations.
Key ways boards and managers can help include:
- Maintaining up-to-date governing documents, financial records, and meeting minutes.
- Providing timely responses to seller requests for information.
- Preparing for upcoming statutory requirements, like the mandatory community websites.
Expanded Website Requirements
As of January 1, 2026, Florida law requires condominiums with 25 or more units to have a website for sharing key documents. Previously, this requirement applied only to condominiums with 150+ units. This update ensures smaller communities adhere to the same standards, promoting fairness and accessibility across all associations.
Creating a compliant website early can streamline the disclosure process, improve communication, and enhance community transparency.
Taking Action Now
Don’t wait until the 2026 deadline to embrace transparency. Proactively preparing your association’s records and creating a community website can:
- Simplify the selling process for current owners.
- Enhance the community’s reputation for governance and organization.
- Foster trust among buyers and residents alike.
Looking Ahead: Turning Obligations Into Opportunities
Selling a condominium unit isn’t just about meeting requirements—it’s an opportunity to showcase the strengths of your community. By staying organized, embracing transparency, and proactively meeting legal obligations, sellers and boards can ensure smooth transactions and build trust in the association.
Use these requirements as stepping stones to better governance and stronger communities. By acting now, you can create a positive experience for everyone involved in the sale process while positioning your community as a model of transparency and trust.
Looking for expert advice? Request a proposal today for expert guidance on enhancing your association’s operations and leadership.
