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After the Surfside condo collapse, Florida lawmakers rewrote the rules for older condo buildings. Associations now need structural inspections and reserve studies, and they can no longer vote to skip the reserves those studies call for. Many boards pay for the catch-up with special assessments. If you plan to buy a Florida condo with a VA loan, you have two sets of rules to clear: the state's condo law and VA's own condo approval. This guide walks through both and links to every statute and VA rule we used.
Sources last checked: October 22, 2026, against the 2026 Florida Statutes and the VA Lenders Handbook (M26-7).
What Florida's condo safety law requires
Two pieces of the law matter most to a buyer: milestone inspections, which look at the building's structure, and structural integrity reserve studies (SIRS), which tell the association how much money to set aside for major repairs.
Milestone inspections (Fla. Stat. 553.899)
A condo or co-op building three habitable stories or taller needs a milestone inspection by December 31 of the year it turns 30, counted from the date of its certificate of occupancy. After that, it needs one every 10 years. The local building official can move the first inspection up to year 25 when local conditions call for it, such as nearness to salt water. A licensed architect or engineer does phase one, a visual review, within 180 days after the association gets the official's notice. If phase one finds substantial structural deterioration, phase two follows with closer testing, and the association must start the repairs within 365 days after it receives the phase two report. The association has 45 days after it receives a report to send owners the inspector's summary.
Structural integrity reserve studies (Fla. Stat. 718.112(2)(g))
A residential condo association needs a SIRS at least every 10 years for each building three habitable stories or taller. The study covers the roof, structure, fireproofing and fire protection, plumbing, electrical systems, waterproofing and exterior paint, and windows and exterior doors. It also covers any other item that would cost more than $25,000 to replace or repair (the state adjusts that figure for inflation) when neglecting it would damage those systems. The study sets out a funding plan for each item. Associations that existed on or before July 1, 2022 had until December 31, 2025, and the law says no SIRS may be completed after December 31, 2026.
For budgets adopted on or after December 31, 2024, the owners in an owner-controlled association can no longer vote to fund less than the SIRS calls for (Fla. Stat. 718.112(2)(f)). The law lets the association raise that money through regular assessments, special assessments, lines of credit or loans.
Why so many Florida condos have special assessments
Florida law defines a special assessment as any charge to owners outside the regular assessment in the annual budget (Fla. Stat. 718.103). When a SIRS shows a reserve shortfall, or a milestone inspection turns up repairs, the board can raise monthly dues, levy a special assessment, borrow, or combine the three. The association must send each owner a written notice that states what the special assessment is for, and it may spend that money only for the stated purpose (Fla. Stat. 718.116(10)). Ask the seller and the association about assessments already levied and any the board is discussing.
What the law gives you as a buyer
The documents. When you sign a contract on a resale condo, Florida law entitles you to these documents at the seller's expense: the declaration, articles of incorporation, bylaws and rules, the annual financial statement and budget, the inspector's summary of the milestone inspection if the building has one, the most recent SIRS (or a statement that the association hasn't done one), and the association's question-and-answer sheet (Fla. Stat. 718.503(2)).
Time to read them. Unless you received the documents more than 7 days before you signed, not counting weekends and legal holidays, you can cancel the contract by written notice within 7 days, not counting weekends and legal holidays, after you sign and receive them. For contracts signed after December 31, 2024, the same 7-day right covers the SIRS and milestone inspection summary. You can extend closing by up to 7 business days to finish your review. The right to cancel ends at closing.
Unpaid assessments. At closing you become jointly and severally liable with the seller for any assessments that came due before the transfer and went unpaid (Fla. Stat. 718.116(1)(a)). The association's estoppel certificate lists what the unit owes now and what is scheduled to come due, so order it early. If a special assessment is payable in installments, your contract should say who pays the installments that fall due after closing.
How VA condo approval works
VA has to approve a condo project before a loan on any unit in it can carry a VA guaranty. That approval covers the whole project, not your unit alone. Planned unit developments (PUDs) don't need it. You or your loan officer can search the VA Condo Report on LGY Hub by project name, city or county. Some approvals list conditions that must be met before VA will guarantee a loan in that project, so read the status, not just the name.
When VA reviews a project, it asks for the association's budget, a statement about special assessments and litigation, and the minutes of the last two association meetings, along with the declaration, bylaws and other legal documents. It also looks at financial statements and reserves where they apply (M26-7, Chapter 16). The handbook sets no fixed reserve percentage for condos. VA reviews the documents themselves, so a Florida association's SIRS results, special assessment letter and minutes can all come up.
If the condo project isn't VA-approved
A missing project can still get approved. The lender on your loan creates a project record in VA's system and uploads the association's documents: the declaration, bylaws, amendments, plat map, rules, meeting minutes, budget, special assessment letter, litigation letter and presale letter. VA then sends a written decision. It can approve the project, approve it with conditions, put the review on hold until it gets missing documents, or reject it and state the reason.
A project review adds time to your purchase, so build it into your contract's financing deadline before you sign. If VA turns the project down, no VA loan on a unit there can close. You can ask us to compare other loan types for that unit, or save your VA benefit for a home that qualifies. The VA condos and property types guide covers the basics of VA condo buying in any state.
How a special assessment affects VA qualifying
VA counts more than your mortgage payment when it measures what you can afford. Its residual income test adds association dues and any special assessments you'll pay to your monthly housing expense (M26-7, Chapter 4). A big assessment can shrink the cushion VA wants to see left over each month for your family's living costs. If the seller agrees to pay an assessment in full at or before closing, tell us, because that changes the numbers. Our VA residual income guide explains the test.
Before you make an offer on a Florida condo
1. Ask us to check the project on the VA Condo Report.
2. Ask for the SIRS, the milestone inspection summary, the budget and the last two sets of meeting minutes.
3. Ask the association about special assessments already levied and any under discussion.
4. Order the estoppel certificate early and read who owes what.
5. Give your contract enough time for a VA project review if the condo isn't on the list.
Questions, answered
Can I use a VA loan on a Florida condo with a special assessment?
Yes, if VA has approved the condo project and you qualify with the assessment counted in your housing costs. VA asks for the association's special assessment statement when it reviews a project.
How do I find out if a Florida condo is VA-approved?
Search the VA Condo Report on LGY Hub by project name, city or county, or ask us to look it up. Read the status, since some approvals carry conditions.
What happens if the condo isn't VA-approved?
The lender on your loan can submit the association's documents to VA for review. VA approves, approves with conditions, asks for missing documents or rejects the project. Until VA approves it, no VA loan on a unit there can close.
Does my Florida condo building need a milestone inspection?
If it's a residential condo or co-op building three habitable stories or taller, yes. The first inspection is due by December 31 of the year the building turns 30, or 25 if the local building official requires it, and then every 10 years (Fla. Stat. 553.899).
Do I owe the seller's unpaid condo assessments?
Florida law makes a new owner jointly and severally liable with the previous owner for assessments that came due before the transfer and went unpaid (Fla. Stat. 718.116(1)(a)). The estoppel certificate shows what the unit owes before you close.
Can I back out if the reserve study shows problems?
For resale contracts signed after December 31, 2024, you can cancel by written notice within 7 days, not counting weekends and legal holidays, after you sign and receive the SIRS and milestone summary, unless you received them more than 7 days before signing. The right ends at closing (Fla. Stat. 718.503(2)).
Sources
Florida Statutes (2026), on flsenate.gov: 553.899 milestone inspections, 718.112 reserves and SIRS, 718.103 definitions, 718.116 assessments, 718.503 resale disclosures. VA: M26-7 Chapter 16, condominiums, M26-7 Chapter 4, credit underwriting, VA Condo Report, VA purchase loans on va.gov.
More VA loan guides
VA home loans overview · VA condos and property types · VA residual income · VA appraisals · VA loans in Florida · Disabled veteran property tax exemptions
Looking at a Florida condo?
Send us the address before you make an offer. We'll check the project on the VA Condo Report and tell you which association documents to ask for. Call the FLO Mortgage team in Flagler Beach at (386) 882-9980.
Disclosure: This page is general information only. It is not a commitment to lend, legal advice or financial advice. All loans are subject to credit approval, underwriting guidelines, property eligibility and program availability. VA condo approval and Florida law can change; confirm current requirements with your loan officer and your attorney. FLO Mortgage is not affiliated with or endorsed by the U.S. Department of Veterans Affairs or any government agency. FLO Mortgage is licensed as a mortgage lender in Florida (MLD2621) and Georgia (#1835856), Company NMLS #1835856; Broker Owner Joy McCoy Flores, NMLS #1096400. Equal Housing Opportunity. 212 Moody Blvd, Flagler Beach, FL 32136. (386) 882-9980.