Buying or selling in Miami & Broward, done right.

Before touring a home with an agent who is working with you as a buyer, yes. That requirement comes from the NAR settlement practice changes adopted by MLSs in August 2024, not from Florida law and not from a FREC rule, and a lot of sites get that wrong. It does not apply when you walk into an open house hosted by the listing agent. Length, scope and compensation are all negotiable, and a single-property agreement is legitimate if you are not ready to commit further.

Compensation is negotiable and has to be stated in your written agreement before you tour. Since August 2024, offers of compensation cannot be published in the MLS, so the amount is no longer something you can infer from a listing. It may be paid by the seller, offered as a seller concession, paid by you, or split. What matters is that the number is agreed in writing up front rather than discovered at the closing table.

Ask how many transactions they closed in your property type and price range in the last twelve months, not their career total. Ask who answers your calls, them or a team member. Ask what they check on a condominium before your deposit goes hard, and listen for milestone inspection status, reserve study findings, open permits and insurance history. Ask how they are paid and what happens if you want out of the agreement. Vague answers to specific questions are themselves the answer.

That depends on the building far more than on the market. Florida requires milestone inspections for condominiums of three or more habitable stories once a building reaches thirty years, and structural integrity reserve studies on a similar cycle. Buildings that deferred maintenance are absorbing that cost now. Two units at the same price can carry very different liabilities. The useful question is not whether to buy a condo but what a specific building's inspection results, reserve position and assessment history show, and that is verifiable before your inspection period ends.

The parts that are hard to replicate are pricing against the full comparable record, exposure through the MLS and its syndication, managing showings and feedback, and handling the negotiation after the inspection, which is where most South Florida deals actually move on price. In Miami-Dade and Broward the condominium work is heavier than most sellers expect: assembling association documents, inspection and reserve status, and assessment history so the buyer's lender and attorney do not stall the closing.

Florida law requires a seller to disclose known facts that materially affect the value of the property and are not readily observable by the buyer. The duty covers what you actually know, so it is about honesty rather than about investigating. Common items are roof leaks, prior flooding, structural repairs, unpermitted work, and for condominiums, pending or previously discussed special assessments. Guessing at what qualifies is the risk. Write down what you know and review it with your agent, and with a Florida real estate attorney where the answer is not obvious.

Plan for brokerage compensation as negotiated in your listing agreement, documentary stamp tax on the deed, title and closing charges that vary by local custom and by what you negotiate, municipal lien and estoppel fees, prorated taxes, and any repairs you agree to after inspection. In a condominium, estoppel fees and any unpaid or pending assessment come off the top as well. Because the pieces vary by county and by contract, a written net sheet on your actual price is worth more than any percentage rule of thumb.

It comes down to whether you can briefly carry two properties and how much certainty you want about price. Selling first gives you a known number and a stronger offer position, at the cost of possibly needing somewhere to live in between. Buying first avoids moving twice but exposes you to carrying both if your sale runs long. A sale contingency, a rent-back from your buyer, or bridge financing can close the gap, and which one fits depends on your equity and your lender's rules.

Insurance and association dues move returns here more than the interest rate does, and both have risen sharply. A realistic model needs property tax at your new assessed value rather than the seller's, a current insurance quote rather than the prior owner's premium, dues plus any pending assessment, vacancy, management, and a reserve for the building's own capital needs. Listing cap rates routinely omit several of these, which is why a listed number and a modeled number often differ by a wide margin.

Yes. Milestone inspection and structural integrity reserve study requirements apply at the building level, so they reach every owner regardless of whether you occupy the unit. A special assessment lands on the owner, not the tenant, and is not usually recoverable through rent mid-lease. If you own in a building of three or more habitable stories at or near thirty years old, inspection and reserve status is a line item in your forecast rather than a background detail.

They vary by municipality and by association, and the association layer is usually the binding one. Condominium documents commonly impose minimum lease terms, a waiting period after purchase before you can rent at all, board approval of tenants, and caps on how many units may be leased at once. Municipal short-term rental ordinances sit on top of that. Both need confirming in the current governing documents and the city code for the specific address before you model any rental income.

Condominium financing is where these deals most often stall. Lenders look at the association's reserve funding, the share of units that are investor-owned, delinquency rates, pending litigation, and whether required inspections are complete. A building that fails those tests can become effectively cash-only, which narrows your buyer pool at resale and shows up as a discount. Checking a building's lending status before you write an offer costs nothing and changes which properties are worth pursuing.