A strong diligence packet can do more for your condo sale than any single marketing line. It reduces back-and-forth, calms underwriters, and helps buyers feel safe moving ahead. In Boca Raton, clear documentation around building safety and reserves is no longer optional. It is the key to protecting your price and your timeline.
Why a diligence packet matters now
Today’s buyers and lenders expect proof of structural safety, planned funding, and compliance. Florida’s Milestone inspection law and the Structural Integrity Reserve Study (SIRS) brought new disclosures and contract language that put documentation at the center of every condo deal. When your packet is complete, you lower the odds of retrades, rescission, or last-minute delays per Florida’s resale disclosure rules.
A clean, consistent set of reports does three things: it builds confidence, it shortens review cycles, and it signals that your association is organized and proactive. That combination often translates to fewer surprises and stronger negotiating power.
Understand SIRS and milestone basics
What these reports cover and why
- Milestone inspections: A two-phase structural inspection for buildings that are three or more habitable stories. Phase 1 is a visual evaluation; Phase 2 occurs if Phase 1 finds deterioration that needs testing or further analysis. The inspector issues a sealed report and a summary, which must be shared with the association and the local building official per Florida Statute 553.899.
- SIRS: A reserve study focused on structural components named in the condo law. It helps ensure funds are planned for major structural work. Associations must share the SIRS with owners within a set time and report completion to the state’s Division of Condominiums per DBPR guidance.
Local layers matter too. Palm Beach County operates a milestone program that can require the first inspection at 25 years for buildings near the coast and manages filings and enforcement per the county’s page. The City of Boca Raton also runs a Building Recertification Inspection Program with its own submittals and repair plan requirements, separate from the state milestone and SIRS frameworks see Boca’s program.
How reports influence buyers and lenders
Buyers and lenders review three questions:
- Is the building safe, and has an engineer confirmed it recently?
- Are reserves and budgets aligned with the work ahead?
- Is the association cooperating with state, county, and city requirements?
Clear answers speed underwriting. Missing summaries, unclear repair plans, or unfunded projects introduce risk. Florida’s updated resale language also requires that certain documents be provided or that the contract conspicuously state they do not exist, which can affect a buyer’s right to cancel if documents are not delivered as required see 718.503.
Assemble a complete diligence packet
Treat this as your pre-approval package for the building. Provide what exists, and where something does not exist, include a written statement from the association.
Structural and engineering reports
- Milestone inspection summary and sealed Phase 1/Phase 2 reports, if completed FS 553.899
- Any turnover inspection report if applicable to your building’s timeline see 718.301
- Boca Raton Building Recertification submissions and any city-accepted Repair Plan or compliance letters, if applicable Boca program
- County proof of milestone filing or status printout, if available Palm Beach County
Why it matters: Engineers’ findings and city or county statuses guide lender and insurance decisions. If Phase 2 identified substantial structural deterioration, buyers will expect a documented scope, timeline, and funding plan per FS 553.899.
Reserve studies and current budgets
- Structural Integrity Reserve Study (SIRS) and any preparer summary, plus the association’s reserve schedule that reflects SIRS components DBPR
- Current annual budget and adopted reserve contributions
Why it matters: SIRS affects reserve funding levels. Lenders scrutinize whether reserves align with upcoming structural work.
Financials and assessments status
- Most recent year-end financial statements
- Estoppel certificate with assessments, fees, and any special assessments noted
- Board resolutions or owner votes authorizing special assessments, if applicable
- Minutes showing funding decisions impacting owners
Why it matters: Buyers want clarity on today’s costs and the likely path ahead. Florida’s resale disclosures require delivery of key association documents within set time frames 718.503.
Insurance and risk disclosures
- Master property insurance certificates and summaries, with coverage limits and deductibles
- Any known gaps, exclusions, or pending claims
Why it matters: Underwriters evaluate building insurance alongside structural risk. Associations must maintain and make records available to owners on request 718.111.
Maintenance, repairs, and permits
- Current and recent capital project lists with status and timelines
- Executed contractor agreements for structural work
- Open and closed permits, plus inspection sign-offs
- Any city or county notices, corrections, or compliance letters
Why it matters: This connects engineer findings to funded, permitted action.
Association governance and compliance
- Declaration, Articles, Bylaws, and Rules & Regulations
- Application forms, leasing rules, pet policies, move-in procedures
- Official records access instructions or portal details, if applicable 718.111
Why it matters: Buyers and their counsel review restrictions, approvals, and compliance culture.
Meeting minutes and board communications
- Minutes for the last 12 to 24 months
- Owner letters or board notices on milestones, SIRS, insurance, and capital projects
Why it matters: Minutes reveal plans, votes, and timing that affect cost and risk.
Unit-specific upgrades and warranties
- Receipts and warranties for work inside the unit
- Contractor licensing and permits where required
Why it matters: These help appraisal, buyer comfort, and insurance.
Lender questionnaires and forms
- Completed condo questionnaire templates commonly requested by underwriters
- Any association-provided lender information sheets or questionnaires
Why it matters: Quick responses keep loan files moving.
Privacy and redaction considerations
- Redact bank account numbers, personal contact info, and sensitive security details
- Keep unredacted versions available for authorized parties as needed
Why it matters: You can be transparent without compromising owner privacy.
Collect documents quickly and cleanly
Work with management and the board
Request the milestone summary, SIRS, financials, insurance, minutes, and governing documents from the property manager or association. Associations have record-keeping and owner-access obligations. Many now post records in secure portals 718.111. For SIRS existence and timing, confirm via the state’s reporting page and request any completion notices the association filed with the Division DBPR SIRS.
Also verify local filings: check the Palm Beach County milestone portal and the City of Boca Raton recertification program for your building’s status and any open items county and city.
Verify completeness and consistency
Cross-check names, dates, and dollar figures across the SIRS, budget, and meeting minutes. Make sure the budget’s reserve line items align with SIRS components. Confirm that milestones noted in board minutes match the engineer’s report status and any city or county filings.
Organize a digital data room
Use a simple folder structure:
- 01_Summary_Index
- 02_Engineering_Reports
- 03_SIRS_Budget_Reserves
- 04_Financials_Assessments
- 05_Insurance
- 06_Maintenance_Repairs_Permits
- 07_Governing_Docs
- 08_Minutes_Communications
- 09_Lender_Questionnaires
Name files with dates and versions. Include a read-me with portal logins or instructions for official records if needed 718.111.
Create a concise summary brief
On one page, list:
- Whether SIRS exists, with date and preparer
- Milestone status, Phase 1/Phase 2 dates, and any Repair Plan
- City and county filing statuses, with links or reference numbers
- Current insurance coverage and deductibles
- Special assessments approved or contemplated, with timing
This lets buyers, lenders, and title find answers in minutes.
Anticipate common buyer questions
Prepare short answers with references to the documents:
- Are any Phase 2 items open and funded? FS 553.899
- When was SIRS completed, and do reserves meet the schedule? DBPR
- Has the building met Boca’s recertification requirements? Boca program
- Were all disclosures delivered within the contract’s time frames? 718.503
Anticipate pricing and negotiation effects
Align disclosures with pricing strategy
Transparency builds trust. Lead with your summary brief and offer full packet access upon request. When you show clear plans, buyers focus on value instead of fear. Florida contracts now highlight whether milestone, turnover inspections, and SIRS are required or completed, so proactive delivery protects your leverage 718.503.
Time the market around projects
If a milestone or recertification deadline is imminent, consider timing your listing just after key filings or approvals post. A submitted Phase 1 with no Phase 2 required, or an approved Repair Plan with permits in hand, typically improves buyer confidence. Palm Beach County and Boca track submissions and statuses that buyers may verify county and city.
Manage assessment and reserve narratives
If assessments are expected, position them as part of a long-term improvement plan tied to specific work and time frames. Connect the dots between SIRS, engineering reports, and the budget. Buyers respond well to documented, step-by-step plans supported by reserves and insurance.
Partner with the right advisors
Legal and documentation review
Use association counsel or your attorney to review disclosures, confirm what must be delivered by law, and fine-tune any statements about documents that do not exist. Contract accuracy matters because buyers may have defined cancellation rights if required documents are not provided on time 718.503.
Engineering and construction support
If Phase 2 is open or major work is planned, ask your engineer or construction manager for a plain-language memo summarizing scope, budget estimates, and schedule. Include permit numbers and any city or county correspondence. This reduces uncertainty and speeds underwriting FS 553.899.
Listing strategy and presentation
A seasoned listing advisor will package your packet, guide buyer agents to the right sections, and coordinate with lenders and title so the file stays clean. In Boca, that often includes confirming local filings and recertification status in parallel with state requirements Palm Beach County and City of Boca Raton.
Move forward with confidence and clarity
A seller-ready SIRS and Milestone packet helps you control the narrative and the timeline. It shows that your building is compliant, your plans are funded, and your disclosures are complete. If you are preparing to list in Boca Raton or anywhere in Palm Beach County, let’s organize your documents now so buyers and lenders say yes faster.
Ready for a discreet, hands-on listing strategy tailored to your building and buyer profile? Let’s talk. Stephanie Schwed will help you assemble a complete diligence packet, align timing with inspections and recertification, and position your condo for a smooth, confident sale.
FAQs
What is a Milestone inspection and who needs it?
- A two-phase structural inspection required for residential condo and co-op buildings that are three or more habitable stories. Phase 1 is visual; Phase 2 is deeper testing if needed. The engineer submits a sealed report and summary to the association and local building official FS 553.899.
What is a SIRS and why does it matter to buyers?
- The Structural Integrity Reserve Study focuses on structural components and funding needs. Associations must share it with owners and report completion to the state. Buyers and lenders use it to gauge future costs and building planning DBPR SIRS guidance.
How do Boca Raton and Palm Beach County rules fit in?
- Palm Beach County manages milestone filings and may require earlier first inspections near the coast county program. Boca Raton’s Building Recertification is a separate program with its own reports and repair plans city program.
What must I give the buyer under the updated resale rules?
- Contracts require conspicuous language about whether milestone, turnover inspections, and SIRS are required or completed. If they exist, provide copies within the stated time frames or the buyer may have cancellation rights 718.503.
What if Phase 2 found substantial structural deterioration?
- Provide the Phase 2 report, an approved Repair Plan, permits, and funding details. Without a clear plan, buyers may delay or renegotiate. Underwriters will look for engineer guidance and municipal compliance FS 553.899.
Where do I get the right documents fast?
- Request official records from management or the board. Check the DBPR SIRS page for reported completion, and verify milestone or recertification filings with Palm Beach County and the City of Boca Raton DBPR county city.
How do I protect privacy while being transparent?
- Redact sensitive items like account numbers and personal contact information. Keep unredacted copies available for authorized reviewers. Associations must maintain and provide access to official records under state law 718.111.
