Broker Associate · Compass · Boca Raton, FL

Karen Anderson
Southern Florida
Condo Playbook

A Complete Guide to Buying, Selling, and Navigating Condo Laws

With 19 years of South Florida real estate expertise, Karen Anderson delivers the definitive playbook for navigating Florida's complex condo market — including the landmark new safety laws every buyer and seller must understand.

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19+ Years Experience
95% Referral Business
$6.9M+ Highest Sold Condo
The Southern Florida Condo Playbook by Karen Anderson
Karen Anderson, Broker Associate at Compass
FL License BK3141013
About Karen

Two Decades of
South Florida Expertise

Well respected by clients, peers, and industry leaders, Karen Anderson is known for her professionalism, ethical standards, and deep market knowledge. An award-winning Broker Associate at Compass year after year, she brings more than two decades of experience to the South Florida market, specializing in luxury condos and waterfront homes in Boca Raton and Palm Beach County.

Originally from New Jersey, Karen has called Boca Raton home since 1999. As the author of The Southern Florida Condo Playbook, she delivers clients valuable insight into the complexities of Florida's ever-evolving condo landscape — including the landmark safety legislation that every buyer and seller must understand today.

Karen partners with her husband Barry Stoll, a licensed Realtor and mortgage lender, providing clients with uniquely well-rounded guidance from contract to closing.

✓ Award-Winning
Recognized year after year by peers and industry leaders
✓ Condo Specialist
Deep expertise in South Florida luxury condo market
✓ Published Author
Definitive guide to Florida condo law & safety regulations
✓ Trusted Advisor
95% of business built on referrals and repeat clients
Florida License BK3141013
The Book

The Southern Florida
Condo Playbook

This comprehensive playbook guides buyers, sellers, and real estate professionals through every phase of the Florida condo journey — from the essential questions to ask before making an offer, to navigating Florida's landmark new post-Surfside safety legislation, financing, insurance, and closing.

Each chapter is crafted to provide practical, actionable insights tailored to today's rapidly evolving South Florida condo market.

Before making an offer, every savvy buyer must address these critical considerations:

  • Unit location, future developments, and points of interest
  • Condo policies, rules, pet restrictions, and rental limitations
  • Occupancy and age restrictions including HOPA 55+ regulations
  • Maintenance fee coverage — what's included and what's not
  • Security, safety features, and flood zone confirmation
  • Governance, special assessments, and board meeting access

The due diligence period is your most critical window. This chapter covers every document and step:

  • Declaration of Condominium, Bylaws, and Rules & Regulations
  • Most current budget and last year-end financial statement
  • Milestone Inspection Report and Structural Integrity Reserve Study (SIRS)
  • Special assessment history and upcoming assessment risks
  • Board of Directors meeting minutes — last 12 months
  • Lien and permit search, FIRPTA considerations

The landmark laws passed after the 2021 Champlain Towers South collapse in Surfside affect every Florida condo transaction:

  • SB 4-D, SB 154 (Glitch Bill), and HB 1021 — what they mean
  • Milestone Inspections: required at 30 years, every 10 years after
  • SIRS: structural reserve funding that can no longer be waived
  • Impact on over 1.5 million condo units and 30,000 associations
  • What buyers must demand from sellers and associations
  • How to navigate compliance as a seller or investor

Change creates opportunity. Here's how to capitalize in today's market:

  • Stricter safety laws mean better-quality, more transparent buildings
  • Target buildings that have already completed Milestone Inspections
  • Leverage inspection reports as powerful negotiation tools
  • Sellers: how compliance becomes your competitive advantage
  • Overcoming buyer hesitancy around upcoming special assessments
  • Long-term investment potential as compliant buildings appreciate

A step-by-step guide through every pivotal stage of the transaction:

  • Evaluating lifestyle, community, amenities, and location
  • Demonstrating financial capability with POF or pre-approval
  • The role of a Florida real estate attorney — when you need one
  • Inspections: basic, air quality, wind mitigation, and radon
  • Insurance considerations before closing
  • Title insurance regional differences in Florida counties

Understanding the true cost of ownership — COA vs. HOA dissected:

  • What COA fees cover: building insurance, amenities, reserves, security
  • What HOA fees typically exclude: exterior, roof, structure
  • HO-6 (condo) vs. HO-3 (homeowners) insurance comparison
  • Why COA fees can actually be more economical long-term
  • Reserve fund contributions and their impact on your budget
  • Windstorm coverage requirements unique to Florida condos

The master policy covers the building — your unit is your responsibility:

  • HO-6 "walls-in" coverage: interior, personal property, liability
  • Windstorm insurance: mandatory for financed condos in Florida
  • Flood insurance: one-third of claims come from Zone X areas
  • Loss of Use coverage when your unit becomes uninhabitable
  • Special assessment coverage add-ons
  • FEMA flood zones explained: Zone A, AE, V, VE, and X

Financing a Florida condo has unique challenges — get it right from the start:

  • Primary, secondary, and investor occupancy loan differences
  • Full vs. limited condo review — and how down payment affects this
  • Jumbo loans, portfolio loans, and hard money options
  • Foreign national financing options for international buyers
  • How new safety laws may impact your loan approval process
  • Why contacting property management early is critical in Florida

Your complete journey, consolidated into actionable next steps:

  • Key takeaways: due diligence, legal guidance, and insurance
  • Understanding all fees and staying informed on condo law changes
  • Community involvement and continued education resources
  • How to enlist Karen's expert guidance for your condo journey
  • Future market trends and what to watch in South Florida
New Florida Law

Every Condo Transaction
Has Changed Forever

The 2021 collapse of the Champlain Towers South in Surfside, claiming 98 lives, triggered the most significant overhaul of Florida condominium law in history. Karen's book is the essential guide to understanding exactly what this means for buyers, sellers, and investors today.

Florida's SB 4-D, SB 154, and HB 1021 now mandate Milestone Inspections, Structural Integrity Reserve Studies, and fully funded structural reserves for all condo buildings three stories or taller — with no more reserve waivers permitted.

Whether you're purchasing your first Florida condo or a seasoned investor, these laws affect your transaction, your financing, your insurance, and your long-term costs. Karen's playbook gives you the complete roadmap.

1.5M+ Condo Units Affected in Florida
30K Condo Associations Must Comply
30yr Trigger Age for Milestone Inspection
2.8M Florida Residents Impacted
Common Questions

Frequently Asked
Questions

Following the 2021 Champlain Towers South collapse in Surfside, Florida enacted landmark legislation — SB 4-D, SB 154, and HB 1021 — requiring Milestone Inspections and Structural Integrity Reserve Studies (SIRS) for all condo buildings three stories or taller. Buildings must be inspected at 30 years of age and every 10 years thereafter. Starting December 31, 2024, associations can no longer vote to reduce or skip structural reserve funding.
A Milestone Inspection is required once a Florida condo building reaches 30 years of age — or 25 years if near seawater. It must be conducted by Florida-licensed engineers or architects and covers critical structural components including the foundation, load-bearing walls, and roofing systems. If significant deterioration is found, a more detailed second inspection is required. Subsequent inspections occur every ten years.
You must review: the Declaration of Condominium, Articles of Incorporation, Bylaws, Rules and Regulations, FAQs document (updated annually), the current budget, last year-end financial statement, Milestone Inspection Report, Structural Integrity Reserve Study (SIRS), and the Governance Form. Under the Condo Rider, buyers have three business days after receipt of these documents to review and approve them — or rescind.
A SIRS is a comprehensive review of a building's structural and mechanical components — roofing, load-bearing walls, plumbing, electrical, waterproofing, windows, and exterior painting — identifying expected useful life and estimated replacement costs. Starting with budgets adopted after December 31, 2024, condo associations in Florida can no longer vote to waive or reduce funding for SIRS structural reserves.
Yes — and this surprises many buyers. Standard condo (HO-6) insurance does not cover flood damage. Even if your condo building carries a master flood policy, it typically does not cover individual units. One-third (33%) of all flood insurance claims come from non-flood or Zone X areas. Heavy rains, hurricanes, and storm surges can cause flooding anywhere in Florida. You must carry your own individual flood policy.
COA (Condo Association) fees typically cover building insurance, amenities, lawn care, exterior painting, roof repair, security, and reserve fund contributions — making them higher but more comprehensive. HOA (Homeowners Association) fees are generally lower and cover common area maintenance, but homeowners remain responsible for their own building exterior, roof, and HO-3 hazard insurance. The overall cost of condo ownership can be very comparable to or less than owning a single-family home.
There are three main occupancy categories: Primary Residence loans (minimum 25% down for limited review), Secondary Residence loans (minimum 30% down for limited review), and Investor Occupancy loans (20–25% down, full review required). Jumbo loans and foreign national financing are also available. Florida's new safety laws may impact loan approval — it's critical to contact property management early to identify any potential financing challenges.
Florida condo owners need an HO-6 "walls-in" policy covering the interior of the unit, personal belongings, and liability. If financing, windstorm coverage within the HO-6 policy is mandatory. Flood insurance is a separate, individual policy and is strongly recommended for all Florida condo owners regardless of flood zone. Additional add-ons include special assessment coverage, water backup coverage, and extended loss of use coverage.
Karen Anderson, Broker Associate at Compass, Boca Raton
Get in Touch

Let's Talk About
Your Condo Journey

Whether you're buying, selling, or simply navigating the complex world of Florida condo ownership, Karen is here to lead, guide, and protect you at every step. With 19+ years of South Florida expertise and a deep understanding of today's new safety laws, she's the advisor you want in your corner.

Call or Text Karen 561-542-4240
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Email Karen karenanderson@compass.com
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FL Broker License BK3141013

Karen is a Broker Associate at Compass, serving Boca Raton, Palm Beach County, and South Florida. 95% of her business is built on referrals and repeat clients — a testament to the trust she builds and the results she delivers.

Get the Book

Your Complete Florida
Condo Guide Awaits

The Southern Florida Condo Playbook is available now on Amazon. Whether you're a first-time buyer, seasoned investor, or seller ready to navigate today's market — this is the guide that puts you in control.

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