HOA homes: the disclosure summary
Under section 720.401, a prospective buyer of a parcel in a community with a mandatory homeowners' association must be given a disclosure summary before signing the contract. When the seller isn't the developer, the parcel owner — the seller — supplies it.
The statutory form tells the buyer they must join the association, that recorded covenants govern use of the property, the current regular and special assessment amounts, that unpaid assessments can become a lien, and whether rent or land-use fees for shared facilities apply.
The contract must incorporate the summary. If the buyer didn't receive it before signing, they can cancel by written notice within 3 days after receiving it or before closing, whichever comes first, and that right can't be waived. This section doesn't apply to condominiums, cooperatives, timeshares or mobile home parks governed by their own chapters.[1]
Condo units: the resale document package
For a condo resale, section 718.503(2) entitles the buyer, at the seller's expense, to current copies of:
- The declaration of condominium, the association's articles of incorporation, and its bylaws and rules
- The annual financial statement and annual budget
- The inspector-prepared summary of the milestone inspection report, if applicable
- The most recent structural integrity reserve study, or a statement that one hasn't been completed
- The turnover inspection report for a turnover inspection performed on or after July 1, 2023, if applicable
- The "Frequently Asked Questions and Answers" document, plus the state's condominium governance form[2]
What must a condo resale contract say?
The contract must either confirm the buyer received the core documents more than 7 days (excluding weekends and legal holidays) before signing, or give the buyer 7 such days after receiving them to cancel. A contract that doesn't conform is voidable by the buyer before closing.
Contracts signed after December 31, 2024 must also state, in conspicuous type, whether the association is required to have — and has completed — a milestone inspection, turnover inspection report or structural integrity reserve study.[2]
How should a seller prepare?
Request association documents as soon as you decide to sell, so a buyer review period doesn't push back your closing. You'll also need an estoppel certificate showing what's owed to the association; by statute, an HOA or condo association must issue one within 10 business days after receiving a written request.[3][4]
Key takeaways
- Homes in a mandatory HOA need the section 720.401 disclosure summary before the buyer signs.
- Condo resales require the section 718.503 document package, provided at the seller's expense.
- Missing or late documents can give the buyer a non-waivable right to cancel before closing.
- Condo contracts signed after December 31, 2024 must address milestone inspection and reserve study status.
- Order association documents and the estoppel certificate early to protect your closing date.
Sources
- [1]Florida Legislature — Fla. Stat. 720.401, Prospective purchasers subject to association membership requirement; disclosure required
- [2]Florida Legislature — Fla. Stat. 718.503, Developer agreements; nondeveloper disclosure
- [3]Florida Legislature — Fla. Stat. 720.30851, Estoppel certificates (HOAs)
- [4]Florida Legislature — Fla. Stat. 718.116, Assessments; liability; lien and priority; estoppel certificates (condominiums)
Reviewed October 11, 2026. General real-estate information for Florida, not legal, tax, lending or insurance advice. Laws, rates and deadlines change — confirm property-specific facts with the agency cited, a Florida real-estate attorney, CPA or licensed insurance agent.