The questions
Ask these before you sign
Each question is written for the seller, agent, manager, or closing team. Send the whole list, or use the email below when you need the packet in writing.
- 01
Can you send the current annual budget and the most recent year-end financial report?
The budget shows what the board plans to collect and spend. The year-end report shows whether the association actually performed that way. Read them together before you trust the dues number in the listing.
Fla. Stat. § 720.303(4), (7)
- 02
Has the association ever voted to establish statutory reserves under Chapter 720?
Florida HOA reserves under Chapter 720 are not automatic. If owners never approved statutory reserves, low reserve funding may be a legal posture rather than a violation. That still matters to you because the money may show up later as a special assessment.
Fla. Stat. § 720.303(6)
- 03
If reserves exist, were they waived or reduced for the current budget year?
A waiver or reduction vote can explain why dues look affordable today. Ask for the meeting notice, minutes, and vote result so you know whether the current budget is fully funding reserves or pushing work into a later year.
Fla. Stat. § 720.303(6)(f)
- 04
Can you provide the current reserve schedule, reserve balance, and any reserve study or component list?
Chapter 720 describes how fully funded reserve amounts are calculated when statutory reserves exist. The schedule tells you which components are included, what replacement costs the board used, and whether those numbers are current enough to trust.
Fla. Stat. § 720.303(6)(e), (g)
- 05
Can you send the estoppel certificate and confirm any open violations, unpaid assessments, or pending fines for the parcel?
The estoppel certificate is the closing document that should show amounts due and other parcel-specific association information. Do not rely only on a verbal answer from the seller or agent.
Fla. Stat. § 720.30851
- 06
Are there any approved, pending, or discussed special assessments, loans, insurance losses, or deferred maintenance projects?
The budget can look stable while the board is already discussing a roof, road, gate, drainage, or insurance problem. Ask for the minutes and notices that would reveal those discussions before your inspection window closes.
- 07
Do the declaration, bylaws, or amendments require reserve funding beyond Chapter 720?
Chapter 720 is the statutory floor, not the only rule. The governing documents can create obligations that matter more than the statute for a specific community.
Email template
Send this before inspection ends
Replace the bracketed fields with the community name, address, and deadline. Keep the statute references in place so the request stays specific.
Hi [Seller / Agent / Manager name], I am reviewing the HOA documents for [Property Address] in [Community Name] before my inspection period ends. Please send the documents below, or point me to the packet section where each item appears. 1. Current annual budget and most recent year-end financial report. 2. Current reserve schedule, reserve balance, and any reserve study or component list. 3. Minutes and vote results for the most recent reserve establishment, waiver, or reduction vote under Fla. Stat. § 720.303(6), if any. 4. Current estoppel certificate under Fla. Stat. § 720.30851, including any open violations, unpaid assessments, fines, or other amounts due for the parcel. 5. Notices or minutes discussing any approved, pending, or likely special assessment, association loan, insurance loss, or deferred maintenance project. 6. Declaration, bylaws, rules, and amendments that address reserves, assessments, or buyer obligations. I am not asking for legal advice. I am trying to confirm the association's current financial posture before closing, especially whether reserves are statutory, waived, reduced, document-driven, or not established. Thanks, [Your name] [Phone]
Why this checklist starts with documents, not dues
The monthly dues number is not enough. A Florida HOA can have affordable dues and still be carrying a reserve gap, a deferred maintenance project, or a special assessment discussion that has not reached the listing remarks.
Start with the budget and financial report because those show the board’s current plan and the prior year’s result. Then ask for the reserve schedule and the vote history. Under Fla. Stat. § 720.303, statutory reserves for homeowners’ associations are a vote-driven framework, not the same regime that applies to Florida condominiums under Chapter 718.
The estoppel certificate is the parcel-level check. Under Fla. Stat. § 720.30851, it is the document that should surface amounts due and other association information tied to the parcel. Pair it with meeting minutes because an estoppel can answer what is due now while minutes reveal what may be coming next.
How to read the answer
If the seller or manager sends all six groups quickly, you can compare the documents before your deadline instead of negotiating from guesses.
If they send only the governing documents and skip the budget, reserve schedule, or minutes, treat the missing records as a warning sign. The next question is not whether the HOA is bad. The next question is whether you have enough evidence to price the risk before closing.
If the community says it has no statutory reserves, do not stop there. Ask whether the governing documents require reserves anyway, whether the board has a current component list, and whether any large projects are being funded through special assessments instead of regular dues.
The rule behind the request
Florida reserve law, in plain language
Use the explainer below to understand which statute governs the records and reserve posture you are asking about.
Next step
Want help reading the packet before you close?
Share the community name and buying timeline. The next step starts with the document request, not an account.