Condominium Facts
 Kim Gibbons Broker Owner Realtor | Serving NW Florida Serving Pensacola Beach, Navarre, Perdido Key, Destin |  |
(866) 766-5862 (850) 437-5618
Owners of condos hold title to the unit only, not the land beneath the unit, so condos can be stacked on top of each other.
All condo owners share title to common areas. Common areas include land, the exterior of buildings, hallways, roofs, swimming pools -- any area used by multiple owners.
Condominium owners pay property taxes on their individual units.
A property owners' association usually manages the complex and collects fees from all condo owners in order to maintain common areas.
If you own a condominium, your condo association probably has a master policy that insures all the property and common areas that are collectively owned by the unit owners. You, the unit owner, is responsible for insuring the inside of the unit.
"Condo-Docs" contain the final, exact details including the site plan, floor plans, maintenance, amenities, rules, by-laws, budget, etc. Upon receipt of the condo docs buyers then have 15 days in which to review the documents and have the option under Florida Law to cancel the contract for new condominiums. There is no risk within this 15 day period.
When shopping for previously owned condos you must be provided a current copy of the declaration of condominium (Condo Docs), articles of incorporation of the association, bylaws, rules of the association, a copy of the most recent year-end financial information and the question and answer sheet more than three business days prior to execution of a contract.
Remember, "owning" a condo means you own your possessions inside of it and to a certain extent, the floor and ceiling. But you don't own the walls. You share them and must make concessions because of that fact.
Contact us for Information about pre-construction and new construction Gulf front or near Gulf front condos.
Please, tell me about the kind of condos you are interested in finding and what kind of amenities are important to you in the Beach Condos you desire.
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