Selling a Florida House With an Active HOA Special Assessment

Disclosure Is Legally Required

Florida Statute 720.401 requires HOA disclosure package delivered to buyer before signing. This includes current assessments, pending special assessments, and any obligations attached to the property.

Who Pays the Assessment

Contract-negotiable. Common outcomes: (1) seller pays in full at closing, (2) seller gives buyer a credit equal to assessment balance, (3) buyer takes property with assessment attached and assumes future payments.

Buyer Reactions to Special Assessments

Traditional buyers often walk away or demand significant discounts equal to full assessment amount plus a risk premium. Cash buyers like Homeinc factor the assessment into the offer and take the property with the assessment attached.

Milestone Inspection Assessments Specifically

For condos, if the special assessment is Milestone-related, the property is difficult to finance traditionally. Cash sales become the primary market.

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