A surprise special assessment, a failed milestone inspection, or a building on the Fannie Mae blacklist can make your South Florida condo nearly impossible to sell the traditional way. We buy condos for cash, as-is — assessment and all — so you can walk away without writing a five- or six-figure check.
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Since the Surfside tragedy, Florida has overhauled its condo-safety laws — and the bill is landing on owners. If your building has issued a special assessment, failed or is awaiting a milestone inspection, or has fallen onto the Fannie Mae “unavailable” list, you may have discovered your unit is suddenly very hard to sell. Here is what is actually happening and what your options are.
Florida law (Senate Bill 4-D and its updates, including HB 913 in 2025) now requires residential condo buildings three or more stories tall to complete a milestone structural inspection at 30 years old (sometimes 25 near the coast), then every 10 years. Buildings also must complete a Structural Integrity Reserve Study (SIRS) and fully fund reserves — associations can no longer waive or underfund them. The result across Miami-Dade and Broward: special assessments ranging from a few thousand dollars to tens of thousands per unit, and in buildings needing major structural work, six figures.
When a building has pending litigation, deferred maintenance, insufficient reserves, or a large open assessment, Fannie Mae and Freddie Mac flag it as “non-warrantable” — meaning conventional lenders won’t finance a purchase there. A financed buyer literally cannot get a mortgage on your unit, which knocks the vast majority of buyers out of the market. That is why so many assessment-hit condos sit unsold for months. A cash buyer is often the only realistic exit, because we don’t depend on Fannie/Freddie approval of your building.
Yes. A pending or unpaid special assessment does not block a sale — it just has to be disclosed and settled at closing. Under Florida Statute §718.116, unpaid assessments become a lien on your unit, and the buyer can be held jointly liable, so the balance is normally paid from the seller’s proceeds at closing. The association issues an estoppel certificate — a binding statement of exactly what is owed — so everyone knows the number. Who pays an assessment that has been levied but not yet due is negotiable in the contract, and we’ll walk you through it.
If you fall behind, the association can lien and ultimately foreclose on your unit, with interest and late fees piling up. Selling — including a fast cash sale — is frequently a cleaner exit than draining your savings or risking foreclosure on a unit you no longer want. We can factor the open assessment into our offer and handle the payoff at closing so it comes off your plate.
This page is general information, not legal or tax advice. Condo and assessment rules are complex and change often — always confirm the specifics of your building and unit with a licensed Florida real-estate attorney.
A simple, proven process designed around your situation.
Call or message us with your building and the assessment you’re facing. No judgment, no pressure — we’ve bought plenty of South Florida condos with open assessments and inspection issues.
We factor in the assessment, any deferred repairs, and your building’s status — then give you a fair, firm cash number. No financing contingency, no lender deciding whether your building qualifies.
We order the association’s estoppel certificate, sort out exactly what’s owed, and coordinate the assessment payoff at closing through a neutral title company — so you don’t have to chase your HOA.
We can close in as little as 7–15 days. The assessment lien is cleared at closing and you walk away with no more dues, no more repair bills, and no more uncertainty.
A side-by-side look so you can decide what actually fits your situation.
| Home Rescue Team (Cash) | Traditional Agent Listing | |
|---|---|---|
| Time to close | As fast as 7–15 days | 60–90+ days (listing + escrow) |
| Repairs & cleaning | None — we buy as-is | Often required to attract buyers |
| Agent commissions | $0 | ~5–6% of the sale price |
| Showings & open houses | None | Ongoing, on buyers’ schedule |
| Closing costs | We cover typical seller closing costs | Typically paid by the seller |
| Certainty of closing | Guaranteed cash — no financing fall-through | Can fall through on financing or inspection |
| Best if… | You want speed, certainty, and no hassle | You can wait months for top retail price |
Not sure which is right for your property? Get a free, no-obligation cash offer and compare it against what an agent quotes you.
Sofia, a retiree on a fixed income, owned a paid-off condo in a 1970s Hollywood building. After the milestone inspection, the association levied a $42,000 special assessment for structural and roof work. She couldn’t pay it, and when she tried to list the unit, every financed buyer’s lender declined — the building had landed on Fannie Mae’s blacklist, so no one could get a mortgage there.
She called us. We made an all-cash offer of $168,000 within 24 hours, factoring the open assessment into our numbers. We ordered the estoppel, coordinated the payoff with her association, and closed in 14 days at a neutral title company. The assessment was settled at closing — Sofia never had to come up with the $42,000 out of pocket.
Instead of draining her retirement savings or watching the association foreclose, Sofia walked away with cash and zero further liability.
Illustrative example based on typical Home Rescue Team transactions; details changed for privacy.
We specialize in situations other buyers won't touch.
We factor the special assessment into our cash offer and pay it off at closing — so you don’t have to drain your savings to escape a building you want out of.
Building on the Fannie Mae blacklist? In litigation? Failed inspection? We pay cash and don’t need lender approval of your condo association, so we can close where financed buyers can’t.
No repairs, no updates, no staging. We buy dated, distressed, and deferred-maintenance condos exactly as they sit today.
We order the estoppel certificate, untangle exactly what’s owed, and handle the assessment payoff at a neutral title company — you don’t have to fight your association.
Behind on the assessment? Selling now stops the interest, late fees, and lien-foreclosure risk before they spiral — a clean exit instead of a credit-wrecking one.
Need to close fast before the next assessment installment hits, or need a few extra weeks to relocate? You choose the timeline that works for you.
A fair cash offer in 24 hours, the assessment handled at closing, and no lender deciding whether your building qualifies. No repairs, no commissions, no five-figure check.
No obligation. No fees. Response in 24 hours.
Local cash buyers serving every city in Miami-Dade and Broward — fast offers, no fees, no commissions.
