A report the seller does not have can still void the contract.

Two documents decide whether a Florida condo sale goes smoothly or falls apart late: the milestone inspection summary and the structural integrity reserve study. Most coverage treats them as a condo board problem.

For a transaction they are something else entirely. They are resale disclosure, owed to the buyer at the seller's expense, and a contract that leaves them out is voidable at the buyer's option before closing.³

What the buyer is entitled to, and who pays for it

Florida Statute 718.503(2) gives a prospective purchaser of an existing unit the right to receive a list of documents at the seller's expense. Alongside the declaration, the articles of incorporation, the bylaws and rules, and the annual financial statement and budget, that list includes:³

• A copy of the inspector-prepared summary of the milestone inspection report, where one exists
• The association's most recent structural integrity reserve study, or a written statement that the association has not completed one
• A copy of the turnover inspection report, for inspections performed after 1 July 2023

Read that second one again, because it is the line people miss. Not having a reserve study is not an excuse for handing over nothing. The written statement that none exists is the disclosure, and it is just as required as the study would have been.

The part that kills deals

The statute does not leave the consequence vague:

A contract that does not conform to the requirements of this paragraph is voidable at the option of the purchaser before closing.

Fla. Stat. s. 718.503(2)³

The buyer may cancel within 7 days, excluding weekends and legal holidays, after executing the contract and receiving all of the required documents.³ Which means the clock does not start when the contract is signed. It starts when the documents actually arrive.

A seller who is slow to produce them is not just being disorganised. They are holding the buyer's cancellation window open, and in a market where a buyer may be having second thoughts, that is a live risk for the whole deal rather than an administrative delay.

Which buildings this applies to

The milestone inspection requirement sits in Florida Statute 553.899 and applies to residential condominium and cooperative buildings that are three habitable stories or more in height.¹ The first inspection is generally due by 31 December of the year in which the building reaches 30 years of age, with transitional deadlines for buildings that passed that age earlier.¹

There is a coastal provision, and it is commonly stated wrongly. The statute does not impose an automatic 25-year trigger near the water. It provides that the local enforcement agency may determine that local circumstances, including environmental conditions such as proximity to salt water, warrant inspection at 25 years instead of 30.¹ So it is a local determination, not a blanket rule, and the answer for a specific building comes from that jurisdiction.

Once an owner receives written notice, phase one of the inspection must be completed within 180 days.¹ Phase two is required only if substantial structural deterioration is identified in phase one.¹ The association must distribute the inspector's summary to unit owners within 45 days.¹

The reserve study, and the date everyone quotes wrongly

The structural integrity reserve study lives in Florida Statute 718.112(2)(g) and applies to each building on the condominium property that is three habitable stories or higher. It must be completed at least every 10 years.²

On deadlines, be careful, because the commonly quoted date is the exception rather than the rule. Unit-owner-controlled associations that existed before 1 July 2022 were required to complete the study by 31 December 2025. An association required to complete a milestone inspection on or before 31 December 2026 may complete the reserve study simultaneously with that inspection.² The 2026 date is that concession, not the general deadline.

The study must cover the roof, the structure, fireproofing and fire protection, plumbing, electrical systems, waterproofing and exterior painting, and windows and doors, plus any other item with a deferred maintenance expense or replacement cost exceeding $25,000 or the inflation-adjusted amount determined by the division.²

Why this shows up as money

Here is the connection a buyer needs explained, and it is the reason these documents matter beyond compliance.

Members of a unit-owner-controlled association may not waive or reduce reserves for the items listed in the structural integrity reserve study, with a narrow exception for multicondominium associations using an alternative funding method approved by the division.²

Reserves for those components used to be something an association could vote down to keep monthly fees low. For the listed items that route is closed. So a study identifying significant deferred maintenance tends to show up in the budget, and from there in what an owner pays. A buyer reading the reserve study is reading a fairly direct signal about where their costs are heading.

What a listing agent can do about it

• Ask for both documents when you take the listing, not when the contract is signed. If the association has to produce them, that is their timeline and not yours.
• If there is no reserve study, get the written statement saying so. It is a required disclosure in its own right, and a seller who assumes "we don't have one" means "nothing to provide" is leaving the contract non-conforming.
• Hand them over early. The cancellation window runs from delivery, so delivering late extends the period in which a buyer can walk.
• Read the reserve study before your seller is surprised by it. Significant deferred maintenance on the listed components now has a funding path that cannot simply be voted away.

Whether a specific building is subject to a 25-year or a 30-year trigger, and what a particular association's obligations are, depends on the building and on the local enforcement agency. Those are questions for the association and, where there is any doubt, for a Florida attorney.

The short version

The milestone summary and the reserve study are resale disclosure, owed at the seller's expense. "The association has not completed one" is itself a required written disclosure, not an excuse. A non-conforming contract is voidable at the buyer's option before closing, and the 7-day cancellation window runs from when the documents are delivered rather than from signing. Reserves for the studied components generally cannot be waived, which is why these reports eventually read as money.

If you are listing a condo and are not sure what the association has or has not completed, call us early. Sorting it at listing is routine; sorting it the week of closing is not.

Common questions

Does a Florida condo seller have to provide the milestone inspection report to the buyer?

Yes, where one exists. Florida Statute 718.503(2) entitles a prospective purchaser of an existing unit to a copy of the inspector-prepared summary of the milestone inspection report, at the seller's expense, along with the declaration, articles, bylaws, rules, the annual financial statement and budget, and other listed documents.

What happens if the seller does not provide the SIRS or the milestone summary?

Florida Statute 718.503(2) provides that a contract which does not conform to the disclosure requirements is voidable at the option of the purchaser before closing. The buyer may cancel within 7 days, excluding weekends and legal holidays, after executing the contract and receiving all the required documents.

What if the association has never done a structural integrity reserve study?

The statute anticipates that. The buyer is entitled to the association's most recent structural integrity reserve study, or a written statement that the association has not completed one. Having no study is not an excuse for providing nothing; the written statement is itself the required disclosure.

Which Florida condo buildings need a milestone inspection?

Florida Statute 553.899 applies to residential condominium and cooperative buildings that are three habitable stories or more in height. The first inspection is generally due by December 31 of the year the building reaches 30 years of age, and a local enforcement agency may determine that local circumstances, such as proximity to salt water, warrant 25 years instead.

When was the structural integrity reserve study deadline in Florida?

Under Florida Statute 718.112(2)(g), unit-owner-controlled associations that existed before July 1, 2022 were required to complete the study by December 31, 2025. An association required to complete a milestone inspection on or before December 31, 2026 may complete the reserve study simultaneously with that inspection, which is the later date often quoted.

Can a condo association vote to waive reserves for the items in the reserve study?

Generally no. Florida Statute 718.112(2)(g) provides that members of a unit-owner-controlled association may not waive or reduce reserves for items listed in the structural integrity reserve study, with a narrow exception for multicondominium associations using an alternative funding method approved by the division.

Sources

Every factual claim above is drawn from the sources below. Statutory figures and deadlines were read from the official source rather than from secondary coverage. Sources last checked October 2, 2026.

1. Fla. Stat. s. 553.899 — Mandatory structural inspections for condominium and cooperative buildings The Florida Senate, official statutes Retrieved October 2, 2026
2. Fla. Stat. s. 718.112(2)(g) — structural integrity reserve study requirements, components and reserve funding The Florida Senate, official statutes Retrieved October 2, 2026
3. Fla. Stat. s. 718.503(2) — resale disclosure, what a purchaser is entitled to and the voidability of a non-conforming contract The Florida Senate, official statutes Retrieved October 2, 2026