Milestone Inspection Impact on Florida Condo Refinance vs Sale

Refinancing a Condo With Milestone Issues

Most lenders will not refinance a condo in a building with active Milestone Phase 2, failed inspection, or unfunded special assessments. Portfolio lenders may — at much higher rates and lower LTV (60-70% instead of 80-85%).

Selling Traditionally

Same issue in reverse: buyer’s lender refuses to finance the purchase. Sale pool collapses to cash buyers. Prices drop 15-30% from pre-Milestone levels.

Selling to a Cash Buyer

Fastest path. Cash buyer accepts building risk in exchange for discount. Homeinc factors Milestone status + estimated assessment into offer.

Which Preserves More Equity

Depends on: (1) size of pending assessment, (2) how long until repairs complete, (3) your cash flow to continue holding through the assessment period. Run all three scenarios before deciding.

Homeinc has bought hundreds of Florida homes since 2013. A-rated with the BBB. No fees. No commissions. No repairs. Close in 7-21 days. Call (888) 850-2636.

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