New Florida condo laws added reserve and assessment requirements, pushing some South Florida owners to sell units carrying major repair and maintenance costs.
A market watcher said pending sales outpaced new listings, signaling buyers were moving quickly even as more sellers tried unloading assessed condos.
That dynamic created discount opportunities, with sellers cutting prices to move units burdened by large assessments and attract hesitant buyers.
A REALTOR® advised sellers to clear assessments before closing, rather than leaving those costs for buyers taking over the condo.
Owners could effectively pay assessments through the sale, with association dues and bank obligations paid first from sellers' net proceeds.
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