Sell a Condo for Cash in Florida — HOA Issues, Assessments, As-Is

Florida condo situations we buy through

• Pending or active special assessments (often $30,000-$200,000+)
• Buildings with failing milestone inspections (SB-4D)
• Buildings the bank declared non-warrantable — no buyer can get a mortgage
• Buildings with insurance issues (lapsed master policy, sky-high deductibles)
• Hurricane-damaged buildings still under repair
• Older 1970s-1980s buildings facing major reserve assessments
• HOA past-due, including units in lien-foreclosure by the association
• Inherited condos where the heirs do not want the assessment exposure
• Investor units the owner wants to exit
• Florida 55+ communities with strict approval requirements
• Tenant-occupied condo units

Why most condo buyers cannot close right now

No mortgage, no buyer

Fannie Mae and Freddie Mac added a confidential list of Florida condo buildings they will not lend on. If your building is on it, virtually no retail buyer can buy your unit with a normal mortgage. The pool shrinks to cash buyers — and most cash-home buyers in Florida do not buy condos.

Insurance shock

Some Florida condo associations had master policies double or triple, which makes the unit unaffordable for the next owner. We absorb that risk because we buy at a price that accounts for it.

Special assessment overhang

A pending $80,000 assessment kills almost every retail deal in negotiation. We will buy with the assessment factored into the offer — and pay it at closing — so you do not.

How the process works

1. Same-day cash offer

Call 888-850-2636 with the address, building, square footage, current monthly fee, any pending or active assessment, and current insurance status. We give a written offer the same day.

2. We deal with the HOA estoppel

The estoppel letter (the HOA’s official statement of dues, assessments, fines, and approvals) is ordered by our title company. We pay all past-due dues and pending assessments at closing.

3. HOA approval if required

In 55+ buildings or any building with a board approval requirement, Homeinc applies for and gets approved as the new owner. Adds 7-21 days to closing depending on the association.

4. Close

Florida title company, deed recorded, you walk with cash. The unit, the assessment, the insurance — all on us going forward.

Why Florida condo owners choose Homeinc

We track which Florida buildings are on the Fannie/Freddie restricted list and which are not. We work with most major condo management companies. We buy in non-warrantable buildings every month. We do not pull out at the last minute when the estoppel comes in higher than expected — we already priced for it.

“My building hit me with a $97,000 assessment after the milestone inspection. I owed more than the unit was worth. Homeinc bought it, paid the assessment at closing, and I walked away clean.” — Sandra V., Surfside, FL

Frequently Asked Questions

Will Homeinc buy if there is a pending special assessment?

Yes — and the assessment gets paid out of the sale proceeds at closing. You do not have to pay it ahead of time.

What if the building is non-warrantable?

No problem. We are cash buyers and do not need the building to be Fannie/Freddie eligible.

I am behind on HOA dues — can I still sell?

Yes. Past-due dues, late fees, and HOA legal fees are all paid at closing through our title company.

Do I need HOA approval for the sale?

In most Florida condos, yes — and we obtain it. We have submitted hundreds of board applications and know what the typical approval requirements look like.

Can you buy a tenant-occupied condo?

Yes — see our tenant-occupied house guide for details. Same logic applies to condos.

How fast can you close on a condo?

Typically 14-30 days, longer if HOA approval is slow. The title work and estoppel are usually the gating items.

Related Resources

• Sell a House With a Lien in Florida
• Sell a Tenant-Occupied House in Florida
• Sell a Hurricane-Damaged House in Florida