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If you’re planning to buy or sell a condo in Florida, there’s a crucial update you need to be aware of. The Florida Realtors/Florida Bar (FAR/BAR) Condominium Rider, a key part of real estate contracts involving condominiums, has undergone significant revisions. These changes were driven by safety concerns and regulatory responses following the tragic Surfside condo collapse in Miami in 2021.

Here’s a breakdown of what’s new — and why it matters.

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The Catalyst: Surfside Tragedy and Legislative Response

The collapse of Champlain Towers South in Surfside left a lasting impact on Florida’s approach to condominium safety. In response, lawmakers introduced stricter requirements for structural integrity and financial transparency within condo associations. The FAR/BAR Condo Rider now reflects these new legal obligations to better protect buyers and sellers.

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Key Changes to the FAR/BAR Condo Rider

🏢 Milestone Inspections for Older Condos

Condos that are three stories or more in height are now required to undergo Milestone Inspections once the building reaches a certain age. These inspections assess the structural integrity of the building and are mandatory under Florida law. Sellers must now disclose whether these inspections have been completed and provide relevant reports to buyers.

📊 Structural Integrity Reserve Studies (SIRS)

In addition to milestone inspections, associations must conduct a Structural Integrity Reserve Study to evaluate and budget for future repairs. This study ensures that associations maintain adequate reserves for critical components like roofs, load-bearing walls, and electrical systems. Again, sellers are now required to disclose the status of the SIRS to buyers.

🏗️ Turnover Inspections for New Condos

For condos constructed on or after July 1, 2023, developers must perform a Turnover Inspection when control is handed over to the association. This must also be disclosed to potential buyers to provide clarity on the building’s current condition and maintenance responsibilities.

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More Disclosure, More Protection for Buyers

📋 Pending Assessments Must Be Disclosed

If there are pending assessments — even if they’re just mentioned in meeting minutes or on the agenda for upcoming board meetings — these must be disclosed. Buyers now have more transparency regarding potential financial obligations they may inherit post-closing.

📑 Budgets and Financials Are a Must

Sellers must now provide annual budgets and the most recent financial statements of the condo association to buyers. If these documents aren’t delivered within the agreed time, buyers have the right to cancel the contract.

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Protecting Sellers: Get That Receipt Signed

If you’re representing a seller, it’s crucial to always have a dated and signed (or initialed) receipt of the condominium documents from the buyer. This small step can make a big difference in protecting your seller’s interests and avoiding legal disputes. It proves that the buyer received the required disclosures and waives the right to cancel due to nondelivery.

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Final Thoughts

These updates to the FAR/BAR Condo Rider are a direct result of the state’s renewed focus on condo safety and transparency. Whether you’re buying or selling, understanding these new obligations is essential to ensuring a smooth transaction — and staying compliant with Florida law.

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Disclaimer: This blog post is intended for informational purposes only and should not be relied upon as legal advice. For questions specific to your situation or to fully understand your rights and obligations under the updated FAR/BAR Condominium Rider, please consult a licensed real estate attorney.

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A big THANK YOU to Kirby Williams and Shoreline Title for visiting the office this morning and going over these changes with us! If you need a trusted real estate attorney, you will be well served byhis contract knowledge and local experience.