Selling a condo in Miami-Dade or Broward has more moving parts than selling a house. The buyer is purchasing your unit, but also a share of the building, its finances and its rules. Buyers, their lenders and their insurers look at all three. Owners who prepare for that tend to have smoother sales.
Here is what to consider before and during a condo sale.
1. Price Against the Building, Not the Neighborhood
Condo values are driven first by your own building. A two-bedroom unit can sell for a very different price than a similar one across the street because the buildings differ in age, amenities, fees and finances.
A sound price starts with:
- Recent closed sales in your building, adjusted for line (the stack your unit is in), floor, view and condition.
- Comparable buildings nearby, when your building has had few recent sales.
- Current competition: other units listed in your building and in buildings a buyer would also consider.
Asking prices of other listings tell you what you are competing with, not what buyers are paying. Closed sales tell you that.
2. Gather the Association Documents Early
Buyers and lenders will ask for the building’s documents, and in Florida the resale contract gives buyers a review period once they receive them. Having them ready keeps the sale on schedule. Typical items include:
- Declaration of condominium, bylaws, and rules and regulations
- The current budget and most recent financial statements
- Frequently asked questions and answers sheet
- Recent board minutes, which often reveal planned repairs or assessments
- Inspection and reserve study reports, where the building has them
- The association’s application and approval requirements
Your association or management company can usually provide these. Ask early: some take time.
3. Know the Building’s Inspection and Reserve Status
Since the 2021 Surfside collapse, Florida law requires milestone structural inspections and structural integrity reserve studies for condominium buildings three or more stories tall, and it limits how associations can waive reserves for structural items. These rules have been amended several times since 2022.
For a seller, the practical point is that buyers and lenders now ask about this directly. Before listing, find out:
- Whether the building’s required inspections and studies are complete
- Whether repairs have been identified, and how they will be paid for
- Whether any special assessment is in place or being discussed
You cannot change your building’s situation, but knowing it lets you price realistically and answer questions with confidence instead of losing a buyer late in the process.
4. Understand What Buyers’ Lenders Look For
Many buyers finance, and lenders review the building as well as the buyer. Factors such as the association’s finances, reserves, insurance, pending litigation, the share of units owned by investors, and commercial space in the building can affect whether a conventional loan is available.
If buyers in your building often have trouble with financing, the pool of buyers may lean toward cash purchasers or buyers using other loan types. That affects pricing and timing, and it is better to know before listing.
5. Plan for Association Approval
Many South Florida associations must approve a buyer before closing, through an application, background check, interview or a combination. Some also have a right of first refusal. Check your documents for:
- What the application requires and what it costs
- How long the association has to respond
- Any restrictions on leasing, pets or vehicles that a buyer should know about up front
Clear disclosure here prevents surprises after a contract is signed.
6. Prepare the Unit
Condo buyers compare your unit with others in the same building, often on the same day. Small things matter:
- Repair anything that looks deferred: leaks, stains, balcony doors, broken fixtures.
- Clean thoroughly and remove personal items and extra furniture so the space and view are the focus.
- Have recent bills for air conditioning service, water heater replacement and any permitted work available.
Large renovations before a sale are often not recovered in the price. It is worth asking before you spend money.
7. Account for Your Costs
Condo sellers typically pay the same kinds of costs as other sellers, plus some that are specific to associations, such as the estoppel certificate. Any assessment that is due or will become due is negotiated in the contract. See Miami seller closing costs for an overview.
8. Choose a Strategy That Fits Your Building
Every building has its own buyer pool: second-home buyers, international buyers, investors, local families or retirees. Marketing that reaches the right buyers for your building, and a price grounded in its recent sales, matter more than any single tactic.
Mariya sells condos throughout Miami-Dade and Broward, including the oceanfront and high-rise markets in Sunny Isles Beach, Aventura, Downtown Miami and Brickell and Hollywood Beach. If you are thinking about selling, start with a property-specific valuation, or call her to talk through your building’s situation.
Frequently Asked Questions
Do I need association approval to sell my condo?
Many South Florida condominium associations have a right to approve buyers or tenants, and some have a right of first refusal. The rules are in your declaration and bylaws. Approval can take time, so it should be built into the contract timeline.
What is an estoppel certificate?
It is a statement from the association, usually ordered by the closing agent, confirming what is owed on the unit: regular fees, special assessments and any other charges. Buyers and title companies rely on it at closing, and the association charges a fee to prepare it.
Will a special assessment stop my sale?
Not necessarily, but it has to be disclosed and the contract needs to say who pays it. Buyers will ask about current and expected assessments, so it helps to know the details before you list.
How is a condo's value estimated?
Mostly from recent sales in the same building and in comparable buildings, adjusted for line, floor, view, condition and upgrades. Building-level factors such as fees, reserves and rental rules also affect what buyers will pay.
This article is general information, not legal or tax advice. Florida laws, county rules, association documents and contract terms vary and change over time. Confirm how they apply to your transaction with a Florida real estate attorney, CPA or your closing agent. Mariya Stoyanova, P.A. is a licensed real estate sales associate, not an attorney or tax advisor.