Condo market has deceased in value faster than single family homes, so there are many good buys, but financing is difficult.
Lenders are hesitant to issue mortgages that is why the values have dropped significantly.
If you have never owned a condo in Florida, this article might be helpful Sarasota Condos Purchase Considerations.
Sarasota Condos For Sale
Condos are governed Florida Statute (718) which governs the use of condominiums and by the condo documents on file with the state. Your review and acceptance of the condo documents (Declaration of Condominium, The Articles of Incorporation, ByLaws, Rules of the Association and a copy of the most recent year end financial) is one of the contingencies that is part of the contract of sale. Download the FAR Residential Sale and Purchase Contract: Comprehensive Addendum A .
Learn about downtown condos .
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