Shopping for a beachside condo should feel exciting, not stressful. Yet if you have heard about Florida’s new condo “milestone” inspections and special assessments, you may be wondering how to separate a solid building from a risky one. You are not alone. The good news is that with a clear checklist and a few smart questions, you can buy with confidence in Satellite Beach.
This guide explains what milestone inspections are, how they affect your budget, and exactly which documents to review before you write an offer. You will also learn how to compare older and newer buildings, spot red flags, and use negotiation tools to protect yourself. Let’s dive in.
Milestone inspections explained
Milestone inspections are state-required structural checkups for multi-story condo and cooperative buildings. Florida created these rules after the 2021 Surfside tragedy to improve life safety and long-term maintenance. The goal is simple: make sure structural elements and major systems are sound and that needed repairs get identified and funded.
These inspections are completed by licensed professionals such as structural engineers or building inspectors. They typically review columns, beams, slabs, load-bearing and exterior walls, balconies, parking decks, roofing and waterproofing, and sometimes electrical service and life-safety systems. Findings often include a list of required repairs and recommended improvements with timeframes.
Rules can vary by location and building type. In addition to statewide requirements, local jurisdictions may have their own inspection or recertification schedules. In Satellite Beach, you should confirm both state requirements and any Brevard County or City of Satellite Beach rules that apply to a specific building, then review the association’s history and records.
Why this matters when you buy
Milestone inspection reports often identify repairs the association must complete. Those repairs are paid for from association reserves, monthly assessments, and sometimes special assessments or loans. The strength of the reserves and the board’s plan to fund repairs will directly affect your monthly costs and risk of large one-time bills.
When you review reports, pay attention to the difference between required and recommended items. Required items may have deadlines for compliance and can trigger immediate projects. Recommended items might be planned over several years, which still impacts reserves and future assessments.
Documents to request and how to read them
Ask the seller and the association for the most recent versions, plus at least 3 to 5 years of history where available. Use the checklist below and focus on what each document tells you about risk, timelines, and cash needs.
Structural and inspection records
- Most recent milestone inspection or recertification reports
- Why: Shows current condition and required versus recommended repairs.
- What to look for: Immediate life-safety items, deadlines for compliance, phased repair plans, and any cost ranges.
- Engineer’s repair specifications, contractor scopes, permits, and approvals
- Why: Verifies that identified repairs were permitted and completed correctly.
- What to look for: Permits pulled and closed, final inspections accepted, and warranties on work.
- Building permit and inspection history for the property
- Why: Confirms major work like roofing, waterproofing, balcony or parking deck repairs.
- What to look for: Closed permits, documentation of concrete restoration, and any code violations resolved.
Financial strength and reserves
- Current reserve study and several years of reserve analyses
- Why: Shows recommended funding levels and upcoming capital projects.
- What to look for: Reserve balance versus recommended balance, ages and lifecycles of components, and whether reserves are being replenished.
- Association financial statements and budgets for the last 2 to 3 years, plus the latest annual report
- Why: Reveals cash on hand and whether operating income covers routine costs.
- What to look for: Rapid assessment increases, large transfers between operating and reserves, and any operating deficits.
- Records of special assessments and loans
- Why: Current or future repayment obligations affect monthly costs and buyer cash flow.
- What to look for: Payment schedules, interest costs, duration, and whether assessments are tied to specific projects.
Governance, risk, and planning
- Minutes of board and membership meetings from the last 12 to 36 months
- Why: Shows how the board is handling inspections, repairs, and funding.
- What to look for: Votes on major projects, contractor selection, litigation updates, and planned assessments.
- Insurance certificates and property insurance limits
- Why: Confirms coverage and any recent claims related to structural work.
- What to look for: Adequate wind and flood limits where applicable, deductibles, and exclusions.
- Active litigation or claims history
- Why: Lawsuits can increase costs, slow repairs, and limit borrowing options.
- What to look for: Nature of disputes, contractor or structural claims, and potential financial impact.
- Reserve and repair timelines or maintenance plans
- Why: Indicates the board’s plan to comply with inspection findings.
- What to look for: Near-term priorities, phasing schedules, and communication to owners.
- Unit owner notices about inspections or code issues
- Why: Summaries often highlight urgency and next steps in plain language.
- What to look for: Safety notices, immediate repairs, and expected timelines.
How to compare buildings by age
Older buildings: pre-1990s
Older coastal buildings often show wear from salt air and time. Inspections commonly flag concrete restoration, balcony repair or replacement, waterproofing, and corrosion of reinforcing steel. You should expect larger capital projects if reserves are thin and maintenance has been deferred. The risk of special assessments is higher if big-ticket items are imminent.
Mid-age buildings: 1990s to 2000s
Some major components may have been replaced, while others are reaching the end of their lifecycles. Focus on the building envelope and balcony condition, and verify the most recent roof replacement date. Look for consistent reserve funding and a track record of permitted, completed work.
Newer buildings: post-2000s
Newer properties usually have fewer immediate structural needs, but you still need to confirm reserve planning and warranty status. Ask whether the association completed an initial reserve study and if members are funding reserves rather than waiving them. Check for any manufacturer or system defects that surfaced after turnover.
Coastal realities in Satellite Beach
Salt air accelerates deterioration of concrete, metal, and waterproofing. Coastal buildings typically require more frequent envelope and balcony maintenance than inland properties. Insurance exposures for wind and flood can be higher too, which affects association budgets and reserves.
Red flags to watch
- Missing or outdated milestone inspection reports.
- Reserve balances far below the reserve study’s recommendations.
- Recent large assessments without proof of completion or warranties.
- Unpermitted or open-permit work.
- Ongoing litigation tied to structure or contractor performance.
- Rapid assessment increases or pending major repair votes.
Budgeting and financing: what it could mean for you
When inspection reports list required repairs, the association must secure funding. Money can come from reserves, special assessments, loans, or a mix. Your job is to understand the likely per-unit impact so you can plan your cash and financing.
Start with the inspection report. If it includes cost estimates, compare them to the reserve balance and the board’s repair plan. If it does not, ask whether the board has engineer estimates or contractor bids. Without estimates, prepare for a range of possibilities. Small projects might mean thousands per unit, while major envelope or parking deck projects can translate into much higher assessments spread over time.
Common funding approaches include lump-sum special assessments, payment plans offered by the association, association loans repaid through higher dues, and individual owner loans or lines of credit. Ask for exact amounts and schedules and whether any assessments will be due before or after closing. Some associations allow escrow arrangements at closing for known assessments, which can simplify negotiations.
Smart negotiation levers for buyers
- Request full disclosure of pending assessments and inspection findings.
- Use a document review and inspection contingency that includes association records.
- Ask the seller to address known assessments through credits, escrowed funds, or price adjustments.
- Consider delaying closing until specific compliance items or funding votes are resolved.
- Bring in a Florida condo attorney if the documents reveal complex funding or legal issues.
Practical next steps in Satellite Beach
- Ask the listing agent or seller for the latest milestone inspection report, reserve study, recent financials and budgets, board and membership minutes for 12 to 36 months, insurance certificates, and any records of special assessments, loans, or litigation.
- Check local permit history through Brevard County and the City of Satellite Beach to confirm that major work was permitted and closed with final inspections.
- Read the inspection report closely. Separate required from recommended items and note safety concerns and deadlines.
- Ask the board or management direct questions:
- Are required repairs outstanding and what is the timeline and funding plan?
- Do you have engineer estimates or contractor bids and has the board voted on funding?
- What is the current reserve balance and what percent funded is the plan compared to the reserve study?
- Is the association involved in litigation related to the structure or recent repairs?
- Bring in professionals. Consider a buyer-paid review by a licensed structural engineer, especially for older or coastal buildings. Consult a Florida condo attorney if funding or legal issues are unclear.
- Negotiate protections. Use contingencies, seek seller credits, escrow funds for known assessments, or sequence closing around key milestones when feasible.
- If the association is actively planning repairs, request the board’s repair schedule, contractor selection documents, and any warranties on completed work.
What a well-prepared building looks like
- Current milestone inspection or recertification on file with clear required and recommended items.
- Reserved funds aligned with a current reserve study and a plan to stay on pace.
- Permitted, completed repairs with final inspections closed and warranties documented.
- Transparent board minutes that track bids, votes, schedules, and funding sources.
- Stable assessments with no surprise special assessments or litigation tied to building structure.
What a poorly prepared building looks like
- Missing reports or vague summaries with no timelines.
- Thin reserves far below recommendations and no plan to catch up.
- Open permits, unpermitted work, or stalled projects without warranties.
- Meeting minutes showing contentious contractor issues, lawsuits, or delayed votes.
- Sharp or repeated assessment increases with unclear budgets.
Partner with local expertise
Buying a condo in Satellite Beach should feel as good as the ocean views. You deserve a clear picture of building health, clean records, and a plan for future costs. Our team helps you source the right documents, ask the right questions, and negotiate with confidence so you can enjoy a low-maintenance coastal lifestyle.
Ready to talk through a specific building’s reports and budget? Connect with Anthony Romero for concierge guidance tailored to your goals.
FAQs
What is a Florida condo milestone inspection?
- It is a required structural evaluation by licensed professionals to assess the condition of major building elements and identify repairs with timeframes.
How do milestone findings affect my costs as a buyer?
- Required repairs must be funded through reserves, special assessments, loans, or higher dues, which can change your monthly payments and potential one-time expenses.
Which documents should I review before buying a Satellite Beach condo?
- Request the latest milestone report, reserve study, financials and budgets, meeting minutes, insurance certificates, permit history, and any records of assessments, loans, or litigation.
What are the biggest red flags in a condo association?
- Missing reports, low reserves versus recommendations, open or unpermitted work, active structural litigation, and rapid assessment increases without clear plans.
How do I compare older and newer coastal buildings?
- Older buildings may face concrete restoration and waterproofing projects, while newer ones still need solid reserve funding and warranty tracking. Coastal exposure increases maintenance needs.
Can I negotiate protections if major repairs are upcoming?
- Yes. Use contingencies, seek seller credits or escrow for known assessments, and consider timing closing around key repair or funding decisions.
