If you're buying or selling a Florida condo, two words now decide whether your deal sails through or stalls: milestone and SIRS. After Florida tightened its condo-safety laws, structural inspections and fully funded reserves became central to closing — and to whether a building can even be financed. Here's what changed and how to close with confidence.
- Condo/co-op buildings 3+ stories need a milestone inspection at 30 years (25 near the coast), then every 10.
- A Structural Integrity Reserve Study (SIRS) sets required reserves — and reserves can no longer be waived.
- Special assessments and underfunded reserves can affect financing and value.
- Get the inspection report, SIRS, reserve balances, and assessment history before you close.
What the law now requires
Following SB 4-D (2022) and its update SB 154 (2023), Florida condominium and cooperative buildings three stories or higher must complete two things:
- Milestone inspection — a structural safety inspection at 30 years of age (25 years if within three miles of the coast), then every 10 years. Phase 1 is visual; a Phase 2 follows if substantial deterioration is found.
- Structural Integrity Reserve Study (SIRS) — a study, required at least every 10 years, that sets the reserves the association must maintain for major components (roof, structure, plumbing, electrical, waterproofing, and more).
Critically, for budgets adopted after December 31, 2024, associations can no longer waive or underfund the reserves identified by the SIRS. That's a good thing for long-term safety — but in the short term it can mean higher dues or special assessments.
⚠️ The closing killer: an unexpected special assessment or a building flagged for major repairs can change the math on a deal fast — and can make a unit hard to finance until it's resolved.
Can you still close?
Usually yes — but only with full information. Before you close, get and review:
- The milestone inspection report (Phase 1, and Phase 2 if applicable).
- The SIRS and current reserve balances.
- Any special assessments — approved, pending, or contemplated.
- Recent board minutes and the association's budget.
Much of this shows up on the association's estoppel certificate and disclosures, which we order and review as part of the closing process.
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The financing angle buyers miss
Fannie Mae and Freddie Mac condo questionnaires now dig into deferred maintenance, reserves, and assessments. Buildings with significant unfunded repairs can land on a lender's ineligible list, making conventional loans difficult until the problems are addressed. If you're financing, confirm the building's status before you're deep into the deal.
How a title company protects you here
Beyond insuring clean title, we verify association dues and liens, surface special assessments through the estoppel, and coordinate payoffs so you're not blindsided at the table. Pair that with a thorough title search and the right owner's title insurance, and you close knowing exactly what you're buying.
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Buying a Florida Condo?
Atlantic Title Firm reviews estoppels, verifies assessments, and closes condo deals cleanly across all 67 counties.
General information, not legal or engineering advice. Florida condo-safety requirements have changed multiple times and continue to evolve; confirm current deadlines and obligations with the association, a licensed engineer, and your attorney where needed.
