New Condo Forms, Webinar Recording Available

ORLANDO, Fla. — New forms from Florida Realtors® reflecting changes to the state’s condo-safety laws will be released at 8 a.m. today. A recording of Monday’s legal webinar on the updates is available now.

The forms and webinar address changes to section 718.503, Florida Statutes, of the Florida Condominium Act extending the potential purchaser’s period to review association documents to seven days, not including holidays and weekends, and other changes as well.

The forms are available on Form Simplicity at 8 a.m.:

• Comprehensive Rider to the Florida Realtors®/Florida Bar Contract for Sale and Purchase (CR-7) Updated to comply with the changes to section 718.503, Florida Statutes, of the Florida Condominium Act that goes into effect on July 1, 2025. These revisions extend a potential purchaser’s right to review association documents to seven days, not including holidays and weekends. The updated form will also include revisions recommended by the Florida Realtors-Florida Bar Joint Committee as part of its periodic forms review. Click here to preview changes

• CRSP17x_F Condominium Addendum – CRSP17x_F (Addendum to the Contract for Residential Sale and Purchase (CRSP17)) This addendum includes a notice to the parties and licensees that the seller should be the one to complete this form, as well as updating the time for buyer to review condominium documents, milestone inspections, turnover inspections, and SIRS (Structural Integrity Reserve Study) reports, from three days to seven days. Click here to preview changes.
   
• Cooperative Addendum (COOP-4) This addendum incorporates the milestone inspection, turnover inspection and SIRS report language as well as updating the time for the buyer to review these documents and the cooperative documents from three days to seven days. A notice provision for the parties and licensees has been inserted for the seller to fill out this addendum. Click here to preview changes.

The recording of the webinar by Florida Realtors’ legal team, addressing updates to the Condominium Rider, addendum A to the Florida Realtors/Florida Bar and ASIS contracts, as well as other changes, is now available.

Click here to watch the webinar

The changes come in response to updates to Florida condominium and cooperative law that include extending the deadline for SIRS in some cases to Dec. 31, 2025, and narrowing the application of both the milestone inspection and SIRS studies from three stories or more, to three habitable stories or more. The updates also allow for a temporary pause in reserve funding for two years immediately following a milestone inspection, thus providing a longer timeline for associations that need it. Additionally, the updates give condo associations flexibility on meeting reserve requirements and allow associations to use lines of credit to satisfy reserve obligations if a majority of owners approve.

The new bill also improves street address transparency, an effort directly supported by Florida Realtors.

Under the updated law, condominium associations are required to include approved BOD meeting minutes for the preceding 12 months on their website. This will help prospective purchasers learn of special assessments that have not yet been formally adopted. The bill also extends a buyer’s right to cancel the contract to seven days after receipt of the governing documents. This increased transparency will help reduce post-closing litigation.

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