The South Florida condominium market experienced a considerable decline in sales in 2025. Rising insurance premiums, high mortgage rates, and new structural inspections/repairs requirements combined to create a perfect storm resulting in diminished sales amid a growing inventory.
One of the most prevalent concerns for condo buyers has been special assessments that can dramatically increase their total outlays after closing. Many sales contracts are incorporating the standard Florida Realtors/Florida Bar Condominium Rider, which now stipulates sellers must disclose any special assessments to buyers, including those that are levied, pending, or listed in board meeting agendas/minutes within the past 12 months.
However, as a recent lawsuit filed in Palm Beach County Circuit Court alleges, some sellers may not be abiding by such provisions in their contracts, and the result could be litigation to force them to pay special assessments imposed on buyers after closing. Buyers’ apprehensions over such scenarios are presumably among the factors that are negatively impacting sales…