Governing documents
Declaration, articles of incorporation, bylaws and current association rules.
Paragraph 19 · Addendum A
The Florida Condominium Rider is more than an HOA disclosure.
Buying a condominium means evaluating the unit, the association and the project itself. Rider A connects the purchase contract to condominium-specific disclosures, documents, expenses and statutory buyer rights.
What Addendum A does
It adds the condominium layer to the transaction.
The main ASIS Contract addresses the purchase of real property. A condominium purchase also involves membership in an association, shared common elements, governing documents, budgets, assessments and project-level conditions.
Rider A helps identify condominium-specific information and responsibilities. It should be read with the complete contract, current association documents and the applicable provisions of Chapter 718—not as a substitute for any of them.
The document package
Do not review only the monthly fee.
For a Florida resale condominium, buyers should understand the governing, financial and structural information supplied for the association.
Financial information
The association’s annual financial statement, annual budget and assessment information.
Questions and governance
The statutory FAQ document when requested and the condominium governance form.
Structural records
Applicable milestone inspection summary, turnover report and structural integrity reserve study.
Cancellation periods
Developer sales and resales are not the same.
The applicable period depends on who is selling and which statutory documents and disclosures apply.
Seven-day statutory review period
For a nondeveloper residential resale, Chapter 718 provides a buyer voidability period tied to contract execution and receipt of the required current documents. The seven days exclude Saturdays, Sundays and legal holidays, and the right terminates at closing.
Separate fifteen-day framework
Developer transactions use a different disclosure package and generally a fifteen-day statutory framework. Buyers should not assume that the resale timeline or document list applies to a developer sale.
Financing changeAug. 32026
Project eligibility matters
Conventional condo reviews became more demanding.
For loan applications dated on or after August 3, 2026, Fannie Mae retired its Limited Review process and Freddie Mac retired its Streamlined Review process. Projects generally move through a fuller review unless a waiver applies.
That review can involve association budgets, reserves, insurance, special assessments, litigation, critical repairs, owner concentration and other project-level information. A borrower’s personal approval does not guarantee approval of the condominium project.
Review the August 3 financing update →Questions worth asking
Review the association like part of the property.
The physical condition of the unit is only one part of condominium due diligence.
Buyer review
- Are there current or planned special assessments?
- Are reserves adequate for anticipated major work?
- Do rental, pet, parking or occupancy restrictions affect the intended use?
- Are milestone, turnover and reserve-study records complete when applicable?
- Has the lender reviewed the project—not only the borrower?
Seller preparation
- Request the current statutory resale package early.
- Disclose known assessments, project issues and material facts.
- Confirm association approval, estoppel and application timelines.
- Expect lender questions about budgets, insurance, reserves and repairs.
- Avoid promising that the project is financeable before lender review.
“If the buyer qualifies for the loan, the condo is financeable.”
Common misconception
The borrower and the project are reviewed separately.
A lender may approve the buyer’s income, credit and assets while identifying an issue with the condominium project. Insurance deficiencies, deferred maintenance, critical repairs, inadequate documentation or other project standards can affect whether the loan can proceed.
That is why the financing timeline, statutory document review and Rider A should be coordinated from the beginning—not handled as three unrelated tasks.