Facing a looming special assessment from your HOA or condo association? You’re not alone—and you’re not stuck. Homeowners across Florida are discovering ways to sell fast, avoid financial fallout, and walk away before the real bill arrives. If you’re under pressure, this guide will explain exactly how to exit smart.
What Are Special Assessments?
Special assessments are surprise expenses levied by your HOA or condo board to cover large, often urgent costs: roof replacements, structural repairs, lawsuits, hurricane damage, or reserve shortfalls. Unlike monthly dues, they aren’t predictable. And they can range from a few thousand to six figures per unit.
Example: You get a letter saying your share of the $2M roof replacement is $18,600. It’s due in 90 days. Financing? Maybe. But expect high rates, if you qualify at all.
When that happens, many owners scramble. But the longer you wait, the fewer options you have.
Why This Crushes Buyer Financing
Most buyers rely on financing. But lenders hate uncertainty.
When there’s a special assessment on the table—or even a whisper of one—here’s what happens:
- Appraisers flag it
- Underwriters pause deals
- Condo questionnaires trigger red flags
- Lenders decline loans
Buyers get spooked. Deals collapse. You’re stuck holding the bag.
But there is a way out.
Why Cash Buyers Are Your Best Exit
Cash buyers don’t worry about financing. No appraisals. No underwriting. No financing contingencies.
That means:
- Faster sales (7-14 days)
- No repair requests
- No back-and-forth negotiations
- You avoid paying the special assessment if it’s not yet due
Pro Tip: If your assessment isn’t legally recorded yet, you may be able to sell without paying it depending on the terms of your contract and the buyer’s position.
What Is an Estoppel Letter?
An estoppel letter is a legal document prepared by your HOA or condo association. It outlines:
- Outstanding dues
- Special assessments (approved or upcoming)
- Payment obligations
- Legal fees
Per Florida Statutes §720.30851 (for HOAs) and Chapter 718 (for condos), the association must provide this within 10 business days of request. It’s binding meaning whatever’s on there is what the buyer inherits unless negotiated otherwise.
Key Tip: If the assessment isn’t listed, and isn’t yet approved, a buyer may accept responsibility post-closing. That can be a huge benefit to sellers.
How We Handle Special Assessments
We’re not traditional buyers. We specialize in distressed condos and homes with HOA issues.
We underwrite special assessments directly into our offers.
That means:
- You get a fair price
- You walk away without stress
- We take on the risk, not you
Even if the estoppel letter shows an active assessment, we factor that in.
Selling to an experienced investor gives you options. And peace of mind.
What Happens If You Wait Too Long?
The moment the assessment becomes official:
- You’re liable
- It becomes a lienable debt
- It must be cleared before or at closing
You can try:
- Paying it upfront (if you have the funds)
- Negotiating with buyers (rarely works in tight markets)
- Financing through the association (often high interest and limited terms)
The longer you wait, the fewer cash buyers will touch the deal.
Act Before It’s Too Late
If your HOA or condo board is talking about:
- Reserves running low
- Major upcoming repairs
- Hiring engineering firms
- Structural or milestone inspections
You may already be on the path to a special assessment.
Selling now could save you tens of thousands.
We make it simple.
Request your fast cash offer now
We serve all of Florida. If you’re facing special assessments in Panama City, Destin, Pensacola, Miami, Fort Lauderdale, Tampa, Orlando, or beyond we’re ready.
Don’t let a financial surprise turn into a burden. Exit on your terms. While you still can.
About Panhandle Real Estate Investments
I’m Peyton Saluto, founder of Panhandle Real Estate Investments. For over seven years, I’ve helped homeowners across the Florida Panhandle find fair and stress-free ways to sell their homes—no repairs, no commissions, and no pressure. My goal is always to put people first and make a real difference in our communities by restoring distressed properties and rebuilding neighborhoods. If you’re thinking about selling, reach out for a no-obligation cash offer. I’d love the opportunity to help you find the best path forward.