How Do You Choose a Realtor for a Sarasota Condo?

What Florida Law Now Requires Every Condo Buyer to Understand

Florida’s Chapter 718 Florida Condominium Act governs every aspect of condo ownership in the state, from board elections to reserve funding to the right to inspect records. After the 2021 Champlain Towers collapse in Surfside, Florida lawmakers passed Senate Bill 4D in 2022 and have continued tightening structural safety requirements heading into 2026. Any agent who cannot explain what those changes mean for a specific building you are considering is not the right agent for a Sarasota condo purchase.

The two most important post-Surfside requirements every buyer should understand before making an offer:

• Milestone Inspections: Condo buildings that are three stories or taller and 30 years old (or 25 years old if within three miles of the coastline) must undergo a structural milestone inspection by a licensed engineer or architect. Buildings that fail Phase 1 must complete a more invasive Phase 2 engineering assessment. If a building you are considering has not completed its required inspection — or if the Phase 2 report revealed deferred maintenance — that is a material fact affecting both safety and resale value.
• Fully Funded Reserves: Starting January 1, 2025, Florida condo associations can no longer vote to waive or reduce structural reserve funding. Associations that have historically underfunded reserves may now face significant special assessments to catch up. Ask your agent to pull the most recent reserve study and the current reserve funding percentage for any building under consideration.

A knowledgeable agent will request the condo documents — the declaration, bylaws, rules, most recent board meeting minutes, reserve study, and financial statements — early in the due diligence process. Under the FAR/BAR contract, buyers have the right to review these materials within the inspection period. Your agent should know exactly what to look for and which red flags to escalate.

Sarasota Condo Submarkets: Why Location Expertise Matters

Sarasota’s condo inventory is not monolithic. Longboat Key, Downtown Sarasota, and Siesta Key each have distinct price ranges, association structures, building ages, and buyer profiles. An agent who knows one submarket well does not automatically know the others.

Eric was extremely knowledgeable and patient!! He found us many homes to view and listened to what we were looking for. He made it his mission to find us the perfect home. Our purchase had a time restraint and Eric never stopped looking. We found the perfect house in Holmes Beach thanks to him! It was fun getting to know him. He felt like family??

– zacmad9, Zillow Review

Longboat Key

Longboat Key is a barrier island accessible by two drawbridges, which affects delivery logistics, contractor access during renovations, and even showing schedules during peak tourist season. Most condo buildings here are mid-rise or high-rise complexes — many built in the 1970s through 1990s — placing them squarely in the milestone inspection window. Flood zone designations on Longboat Key are typically AE or VE, meaning flood insurance is not optional; it is required by most lenders and often priced significantly higher than mainland properties. As of spring 2026, wind insurance costs on the barrier islands have continued to climb, and the agent you hire should be able to help you model total monthly carrying costs — not just the list price — before you make an offer.

Downtown Sarasota

Downtown towers like those along the Bayfront offer a walkable urban lifestyle that attracts a different buyer than the beach communities. Buildings here tend to have more complex amenity packages and higher HOA fees. Some newer towers have passed their initial structural inspections with clean reports, while some older mid-century buildings face more significant remediation costs. Warrantability — whether Fannie Mae or Freddie Mac will purchase the loan — varies dramatically building by building downtown and depends on factors such as the percentage of units that are investor-owned, pending litigation against the association, and how dues delinquencies are tracked.

Siesta Key

Siesta Key condos range from small beachfront cottages to larger resort-style complexes. Many units are enrolled in short-term rental programs, which can trigger non-warrantable status with conventional lenders. If more than a certain threshold of units in a complex are non-owner-occupied or operate as nightly rentals, conventional financing may be unavailable — forcing buyers into portfolio loans at higher interest rates or larger down payment requirements. Your agent must know the current owner-occupancy ratio and rental policy of any building you are evaluating.

When my husband Mike and I bought our condo at Seaplace212 in 2018, we were fortunate that we had the Renick Team on our side. Eric & Mike are very Professional and honest with full disclosure. I am a licensed Real Estate agent in Florida. I feel comfortable referring my clients to Eric and Mike. I know that they will receive competent representation.

– Marge Nuzzo, Google Review

How to Interview a Sarasota Condo Agent: Six Questions That Reveal Real Expertise

The difference between a capable condo agent and a generalist who happens to have a license shows up in the answers to specific questions. Before signing any buyer-broker agreement, consider asking every candidate the following:

1. “Can you walk me through what SB-4D changed for condo buyers in this market?” A strong agent will explain milestone inspections, reserve funding mandates, and how those changes have affected pricing and negotiating leverage for buyers in Sarasota since 2022.
2. “How do you evaluate a reserve study during due diligence?” Look for an agent who can identify whether reserves are adequately funded, whether the study was completed by a qualified professional, and whether any structural components are flagged as deferred.
3. “What buildings in this submarket are currently warrantable for conventional financing?” This question separates agents who track financing conditions building by building from those who will figure it out after you are already in contract.
4. “How have AE and VE flood zone designations affected values in the buildings we’re looking at?” An experienced agent will know which buildings have seen insurance-driven price adjustments and how to factor ongoing premium increases into a realistic offer price.
5. “Have any buildings you’ve sold in the last 12 months received special assessments after closing?” This is a candid question about due diligence quality. A thorough agent who reviews financials and minutes carefully will have a very different answer than one who does not.
6. “What is your experience with the FAR/BAR contract as it applies to condo rider addenda?” The condo rider attached to the FAR/BAR contract governs the document review period, the right to cancel, and how association approval requirements are handled. Mismanaging this rider has cost buyers deposits.

Under Johnson v. Davis, Florida sellers have a legal duty to disclose known material defects — but that disclosure obligation does not replace the buyer’s independent due diligence. A skilled agent does not rely on the seller‘s disclosure alone. They dig into the association’s own records, the inspection history, and the financial statements to give you a complete picture before your inspection period expires.

Financing Sarasota Condos: Warrantable vs. Non-Warrantable

One of the most consequential decisions in a Sarasota condo purchase often happens before the buyer ever tours a unit: choosing a building where conventional financing is available. A warrantable condo is one that meets Fannie Mae and Freddie Mac guidelines, allowing lenders to sell the loan on the secondary market and typically offering buyers the most competitive interest rates and down payment requirements.

A condo building can lose warrantable status for several reasons that are directly relevant to Sarasota’s market in 2026:

Factor	Warrantable Threshold	Buyer Impact if Non-Warrantable
Investor/non-owner-occupancy ratio	Typically ≤50% investor-owned	Portfolio loan required; higher rate, larger down payment
Single entity ownership concentration	No single entity owns >10% of units	Conventional financing unavailable
Pending or active litigation	No material litigation against the association	Lender may decline; FHA/VA financing typically blocked
Delinquency rate on HOA dues	Typically ≤15% of units delinquent by 60+ days	Lender questionnaire failure; deal falls through
Milestone inspection or structural concerns	No unresolved Phase 2 findings	Fannie/Freddie may add building to ineligible list

An experienced Sarasota condo agent maintains awareness of which buildings are currently on lender ineligible lists and which have recently been cleared. This intelligence is not always publicly searchable — it comes from relationships with local lenders and from tracking the market closely over time. Finding out a building is non-warrantable after you are under contract wastes inspection period time and can cost you the deal entirely if your financing falls through.

Questions to Ask Before Making an Offer on Any Sarasota Condo

Once you have selected an agent with genuine Chapter 718 expertise, a disciplined pre-offer checklist will protect your interests further. Before submitting an offer on any Sarasota condo in 2026, confirm the following with your agent:

• Has the building completed its required milestone inspection, and if so, what were the findings?
• What is the current reserve funding percentage, and has the association passed a special assessment in the past three years?
• Is the building on any lender’s ineligible list for conventional, FHA, or VA financing?
• What is the investor-to-owner-occupant ratio, and does the association permit short-term rentals?
• What are the current flood and wind insurance premiums for the building, and how have they changed over the past two years?
• Are there any pending legal actions against the association or any ongoing disputes with the developer?
• What does the most recent board meeting minutes reveal about deferred maintenance, upcoming projects, or budget shortfalls?

Sarasota’s condo market as of spring 2026 rewards prepared buyers. Inventory has shifted in several submarkets, giving buyers more negotiating leverage than in prior peak years — but that leverage only translates into a good deal when the buyer and their agent understand the structural, legal, and financing dimensions of each building. The goal is not just to get to closing; it is to close on a building that will hold its value, remain financeable for the next buyer, and not surprise you with a five-figure special assessment in year two of ownership.

Frequently Asked Questions

What should a Sarasota condo buyer expect a knowledgeable agent to review during due diligence?

A strong Sarasota condo agent will pull the full condo document package early: declaration, bylaws, rules, recent board minutes, reserve study, and financial statements. They should review milestone inspection reports, reserve funding levels, and any signs of deferred maintenance or budget shortfalls. Under the FAR/BAR contract, all of this needs to be evaluated within the inspection period so you can act on any red flags.

How do milestone inspections affect which Sarasota or Longboat Key condos a buyer should target?

Buildings three stories or taller and 30 years old—25 years if they’re within three miles of the coast—must complete milestone inspections by a licensed engineer or architect. If Phase 2 reveals deferred maintenance or if a building hasn’t completed its required inspection, that’s a material fact affecting safety and resale value. As of spring 2026, those findings are reshaping which buildings are smart targets and which to avoid.

Why does warrantable versus non-warrantable status matter so much for Sarasota condo buyers?

Warrantable condos meet Fannie Mae and Freddie Mac guidelines, which allows lenders to sell the loan and usually gives buyers better rates and down payment options. Non-warrantable status can be triggered by high investor ratios, single-entity ownership, litigation, dues delinquencies, or unresolved structural issues. If you discover a building is non-warrantable after going under contract, your financing can fall through and you may lose valuable inspection time.

How are Longboat Key, Downtown Sarasota, and Siesta Key condo markets different from each other?

Longboat Key is a barrier island with AE and VE flood zones, higher flood and wind insurance, and many 1970s–1990s mid- and high-rise buildings squarely in the milestone inspection window. Downtown Sarasota towers tend to have more complex amenities, higher HOA fees, and very building-specific warrantability. Siesta Key mixes small beachfront cottages with resort-style complexes and a heavy short-term rental presence, which often pushes buildings into non-warrantable territory and changes the financing options.

To search for local properties: search.teamrenick.com
To read more insights: blog.teamrenick.com