While the sharp rise in Florida home insurance costs is driving some to sell, most of the units on the market are in buildings 30 years or older. Under a new law, buildings must pass milestone structural inspections no later than 30 years after they are built.
Tag: Florida condos
Florida Condo Prices Drop as Insurance Crisis Deepens
Sales of condos in Florida have plummeted in January even as prices fall amid high costs of home insurance, according to real estate platform Redfin.
Florida Condo Owners Brace for New Inspection, Reserve Requirements
Condo owners in Florida, already getting squeezed by increasing insurance costs, also might get hit soon by higher monthly fees from new state regulations on structural inspections and reserve funds.