Miami home buying · A practical starting point
Before you buy a Miami condo
Six conversations to have before choosing a building and making your next move. Use this checklist to organize questions, then get answers for the specific property you are considering.
1. Start with the monthly total
Compare more than the purchase price. Ask for current association dues, what those dues include, property-specific insurance estimates and a tax estimate for your purchase. Add financing, parking and other recurring charges. Use the payment estimator as a starting point, then confirm each amount with the relevant provider.
2. Ask about the building’s finances and condition
Request the current budget, available financial statements, reserve information, recent meeting minutes, relevant inspection reports and information about planned repairs. Ask whether assessments have been approved or discussed, how much remains payable and when payments are due. Have qualified professionals review documents and unresolved concerns.
3. Check how you can use the home
Ask about rental restrictions, minimum lease terms, approval processes, pet policies, parking, storage and renovation rules. Confirm the written rules fit how you intend to use the property rather than relying on a listing summary.
4. Discuss financing early
If you need a loan, ask your lender to review both your qualifications and the condominium project. Get clarity on required down payment, insurance, documentation and any building-related conditions before assuming a particular loan is available.
5. Visit with a practical checklist
Look at the unit, shared spaces, access, maintenance and noise at different times if possible. Ask about ongoing construction and planned work. An independent inspection and appropriate specialist advice can help you investigate concerns.
6. Keep your transaction organized
Track questions, documents and dates with your agent, lender, title company and attorney as appropriate. Do not treat this checklist as a substitute for contract-specific advice. Before sending money, verify instructions by calling a trusted number you independently confirmed.
General educational checklist, not legal, tax, insurance or lending advice. Property conditions, rules and costs vary. Confirm current requirements with the appropriate professionals.