In Florida, condominium and homeowners’ associations may require potential buyers to submit an application to the association before allowing the buyer to close on the property. A buyer’s failure to timely submit an application to a governing association could delay closing.
Here are a few tips for anyone looking to buy or sell a home governed by an association:
- Before listing your home, review the governing documents to see if they include provisions subjecting potential buyers to the association’s approval;
- If they do, check with the Association manager early on to see if there is a timeframe attached to the approval process, e.g., buyer must submit an application no later than 30 days prior to the transfer of property; and
- Apply early to give the association adequate time to process the application.
Following these steps will help minimize the risk of delays in your closing.
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