Real Estate in Brickell, Miami

The building, in as much depth as the unit. Obtain and read the association's budget and reserve study, recent board minutes, current and anticipated special assessments, the master insurance policy, and any litigation disclosure. For older multi-story buildings, ask whether Florida's milestone structural inspection requirements apply, whether the inspection has been completed, and what it found. Get an actual insurance quote for your own unit policy. And ask what monthly dues have done over the past five years — the trend tells you more than the current number.

Florida licenses real-estate sales associates and brokers through the Department of Business and Professional Regulation, and the licence status is publicly searchable by name. Confirm the licence is active, note whether the person is a sales associate, broker associate, or broker, and check which brokerage holds the licence. Also ask which brokerage relationship will apply to you — Florida distinguishes transaction broker from single agent, with different duties — and get the disclosure in writing before you begin working together rather than at the offer stage.

Because they can change the affordability of a property substantially, and in some cases affect financing. South Florida property insurance involves windstorm coverage with a separate hurricane deductible usually calculated as a percentage of insured value, flood coverage that is separate from the homeowners policy entirely, and underwriting that pays close attention to roof age and construction. The practical step is to get a real insurance quote during your diligence period rather than estimating. For condominiums, also understand what the association's master policy covers and what your own policy must.

Florida introduced structural milestone inspection requirements for certain older multi-story condominium buildings, along with requirements around structural integrity reserves. Where they apply, they can result in significant repair obligations and special assessments for owners. If you are buying into a building that is subject to them, you want to know whether the inspection has been done, what it found, what work is planned, how it is being funded, and whether reserves are adequate. Ask for the documentation rather than a summary, and consider having a professional review it. Requirements have changed since introduction, so confirm current rules.

It depends on distance, unit count, and how much you want to be personally involved in tenant issues at inconvenient hours. If you use one, compare on scope rather than headline percentage: what the management fee covers, what leasing and renewal fees are charged, how maintenance is authorized and whether costs are marked up, how tenants are screened, how funds are held, and what reporting you receive. Also ask about their experience with your building's association rules and with any short-term rental restrictions, which vary significantly across Miami-Dade municipalities and buildings.

Sometimes, and the answer depends on two separate layers: your municipality's rules and your building's or association's rules, either of which can prohibit it independently. Short-term rental regulation varies considerably across Miami-Dade's municipalities, and many condominium associations impose minimum lease terms that effectively rule it out. Check both before buying if short-term rental income is part of your plan, and get the association's restrictions in writing from the documents rather than from a seller's description. This is a common and expensive assumption in this market.