Florida · §718.503(2)Florida condo resale documents and the 7-day right to cancel (§718.503)
A Florida condo buyer who has signed a resale contract is entitled, at the seller's expense, to current copies of the declaration, articles, bylaws and rules, the annual financial statement and budget, the milestone inspection summary and structural integrity reserve study where applicable, and the FAQ document (Fla. Stat. §718.503(2)). Unless the buyer received them more than 7 business days before signing, the buyer may void the contract by written notice within 7 days, excluding weekends and legal holidays, after signing and receiving them. The right cannot be waived and ends at closing.
The rules
Documents (§718.503(2)(a))
Declaration, articles of incorporation, bylaws and rules, annual financial statement and budget, milestone inspection summary (§553.899) if applicable, the SIRS or a statement that none was completed, the turnover inspection report if applicable, and the FAQ document.
7 business days (§718.503(2)(d))
The contract must either acknowledge the buyer received the documents more than 7 days (excluding weekends and holidays) before signing, or make the contract voidable for 7 days after signing and receipt.
Closing extension
The buyer may extend closing by up to 7 business days after receiving the documents. A non-conforming contract is voidable by the buyer before closing.
Governance form (§718.503(2)(b))
The buyer is also entitled to the state's governance form summarizing how condominium associations are run.
Contracts signed after December 31, 2024 (§718.503(2)(e))
- If the association must have a milestone inspection, turnover inspection report or SIRS and has not completed it, the contract says so in conspicuous type.
- If it is not required, the contract states that it is not required.
- If completed, the contract carries the acknowledgment and 7-business-day voidability clauses for the milestone summary, turnover report and SIRS.
What the TC tracks
- The date the buyer received the full document set.
- The 7-business-day rescission deadline – weekends and legal holidays excluded.
- The milestone, turnover and SIRS clause that fits the association.
- Association approval and estoppel certificate before closing.
Questions about Florida condo resale documents
How many days does a Florida condo buyer have to cancel?
7 days, excluding Saturdays, Sundays and legal holidays, after signing and receiving the documents – unless the documents were received more than 7 such days before signing (§718.503(2)(d)).
Who pays for the Florida condo documents?
The seller. The buyer is entitled to current copies at the seller's expense (§718.503(2)(a)).
Can a Florida condo buyer waive the 7-day right?
No. Any purported waiver has no effect; the right terminates at closing.
Does the buyer get the structural integrity reserve study?
Yes – the most recent SIRS or a statement that none was completed, and the milestone inspection summary if applicable.
Is a real estate agent liable for errors in the condo documents?
No. A licensee who provides or obtains the documents is not liable for errors or inaccuracies in them (§718.503(2)(c)).
Related guides
Add the document delivery and the 7-business-day rescission deadline as tasks with owners and due dates in ClosingCode – and keep the condo documents with the deal.
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General information, not legal advice. ClosingCode is software; it is not a law firm or brokerage.