The 15 Documents — What to Request and What to Look For
1. Structural Integrity Reserve Study (SIRS)
Required under Florida SB 4-D for buildings 3+ stories and 30+ years old. CV East buildings built before 1996 all qualify.
What to look for: Has the study been completed? What is the estimated total reserve funding need? Is the association on a funded schedule or are they planning a special assessment? A building that hasn't completed its SIRS by the deadline is a building you should not buy into.
Red flag: "The study is in progress" with no completion date or cost estimate.
2. Milestone Structural Inspection Report
Florida requires milestone inspections at 30 years for buildings within 3 miles of the coast (CV East qualifies — approximately 3 miles from the Atlantic). Phase 1 visual inspection, Phase 2 if structural concerns found.
What to look for: Phase 1 pass with no Phase 2 required is ideal. If Phase 2 was triggered, what were the findings? What remediation is planned and at what cost?
Red flag: Phase 2 triggered with no remediation timeline or cost estimate.
3. Reserve Fund Balance and Funding Schedule
Florida law now prohibits associations from waiving reserves for structural components (roof, electrical, plumbing, waterproofing, windows, fire protection, elevators, concrete, load-bearing walls, foundation, parking structure).
What to look for: Is the reserve fully funded to the SIRS recommendation? What percentage funded is it? A 30% funded reserve on a building that needs $2M in structural work means a special assessment is coming.
Red flag: Reserve fund below 50% of the SIRS-recommended amount.
4. Insurance Declarations Page (Master Policy)
The master insurance policy covers the building structure. Individual HO-6 policies cover your unit interior. You need to see the master policy declarations page to understand what you are actually buying into.
What to look for: Carrier name and AM Best rating (B+ or better). Coverage limits vs replacement cost. Deductible amount (hurricane deductibles can be 2-5% of building value). Named storm vs all-perils coverage. Whether the policy is with Citizens (insurer of last resort) or a private carrier.
Red flag: Citizens policy with a high deductible and coverage limits below replacement cost.
5. Three-Year HOA Fee History
CV East HOA fees range from $300 to $500+/month depending on the building. The trend matters more than the current number.
What to look for: Annual increase percentage. A building that went from $280/mo in 2022 to $450/mo in 2025 is telling you something about its financial trajectory. Compare the increase rate to other buildings in CV East.
Red flag: HOA increases exceeding 15% per year for two or more consecutive years.
6. Special Assessment History (Last 5 Years)
Special assessments are one-time charges for expenses not covered by reserves. In older communities like CV East, these can be $5,000 to $50,000+ per unit for roof replacement, elevator repair, or structural remediation.
What to look for: How many special assessments in the last 5 years? What were they for? How were they paid — lump sum or financed? Are any currently being collected?
Red flag: Multiple special assessments totaling more than $10,000 in a 5-year period.
7. Association Financial Statements (Audited)
Florida law requires associations with 50+ units to have their financials audited annually. Every CV East building qualifies.
What to look for: Operating surplus or deficit. Accounts receivable (how many owners are behind on HOA payments). Cash reserves vs upcoming capital expenditures. Auditor's notes or qualifications.
Red flag: More than 15% of owners delinquent on HOA payments — this means the remaining owners are subsidizing non-payers.
8. Pending or Threatened Litigation
Construction defect claims, slip-and-fall lawsuits, disputes with contractors — litigation costs money, and that money comes from HOA fees or special assessments.
What to look for: Any pending lawsuits listed in the association's disclosures. The estimated financial exposure. Whether the association has D&O (Directors and Officers) insurance.
Red flag: Active construction defect litigation with exposure exceeding the association's insurance limits.
9. Board Meeting Minutes (Last 12 Months)
Meeting minutes reveal what the board is discussing — upcoming projects, owner complaints, insurance negotiations, budget pressures.
What to look for: Discussions about insurance renewals and cost increases. Planned capital projects. Owner complaints about deferred maintenance. Board member turnover (instability signals governance problems).
10. 40-Year Recertification Status
Broward County requires structural recertification at 40 years for buildings 3+ stories, and every 10 years after. Many CV East buildings have already completed this or are due.
What to look for: Has the building passed its 40-year recertification? If it is a 50-year-old building, has it passed the 50-year recertification? What repairs were required, and have they been completed?
Red flag: Building overdue for recertification with no scheduled inspection date.
11. Rental Restrictions and Lease Cap
If you ever need to rent your unit — whether for income or because you cannot sell — rental restrictions determine your options.
What to look for: Minimum lease term (many CV East buildings require 1-year minimum). Maximum percentage of units that can be rented simultaneously. Waiting period before you can rent after purchase.
12. Estoppel Letter
The legal document that confirms the seller's account status with the association. Required before closing in Florida.
What to look for: Any outstanding balances, pending special assessments, or liens against the unit. Confirm the current monthly HOA amount matches what the seller disclosed.
13. Building Maintenance Schedule
Roof age, elevator service dates, HVAC system age, plumbing condition — these determine future costs.
What to look for: Roof age (asphalt shingle roofs last 15-20 years in South Florida; tile roofs 25-40 years). When was the last elevator modernization? Has the building completed concrete restoration?
14. Turnover Ratio and Unit Vacancy
How many units in the building are currently for sale? How many are vacant or owned by estates?
What to look for: If more than 20% of units in a building are listed for sale simultaneously, owners are fleeing. High vacancy means fewer owners paying HOA fees, which means higher assessments for remaining owners.
Red flag: More than 15% of units listed for sale or vacant in a single building.
15. Proposed Budget for Next Fiscal Year
The current HOA fee is what you pay today. The proposed budget tells you what you will pay next year.
What to look for: Line items for insurance (has it increased?), reserves (are they being funded to the SIRS level?), and any new capital projects. Calculate the implied HOA increase from the proposed budget.
Red flag: Proposed budget showing a 20%+ increase in insurance or reserve line items.
CV East Building Age Tiers — Why It Matters
| Construction Era | Building Age (2026) | Key Concerns | Required Inspections |
|---|---|---|---|
| 1970-1975 | 51-56 years | Concrete spalling, rebar corrosion, original plumbing, electrical panel upgrades needed | 40-year + 50-year recertification, SIRS, milestone inspection (coastal proximity) |
| 1976-1985 | 41-50 years | Roof replacement cycle, elevator modernization, waterproofing | 40-year recertification, SIRS, milestone inspection |
| 1986-1995 | 31-40 years | HVAC replacement, window/slider upgrades, balcony waterproofing | SIRS required, milestone inspection approaching |
The oldest buildings in CV East — those constructed in the early 1970s — face the most regulatory requirements and the highest remediation costs. A 1972 building with original cast-iron plumbing, a roof approaching end-of-life, and concrete restoration needs could easily require $15,000-$30,000 per unit in combined special assessments over the next 5 years.
That does not mean 1970s buildings are bad purchases. It means you need to verify the work has already been done or is fully funded in reserves before you buy. A 1972 building that completed concrete restoration in 2020, replaced its roof in 2018, and has a fully funded SIRS reserve is in better shape than a 1990 building that has deferred everything.
The CV East-Specific Complication: Dozens of Separate Associations
Century Village East is not one condo association — it is dozens of individual building associations under a master community association. This means every building has its own financial health, its own reserve fund, its own insurance policy, and its own HOA fee. Two identical floor plans in buildings 200 feet apart can have a $200/month difference in HOA fees because one building funded its reserves and the other did not.
When your agent says "CV East HOA is around $400/month," ask which building. The answer determines whether you are buying into a well-managed association or inheriting someone else's deferred maintenance bill.
What Your Agent Should Request For You
Any buyer's agent working in Century Village East should request documents 1 through 15 as a standard part of their due diligence process. If an agent tells you this is "unusual" or "not necessary," find a different agent. In a community with buildings this old and this much SB 4-D exposure, skipping due diligence is financial negligence.
Florida Statute 718.111 requires associations to make most of these documents available to prospective buyers. If an association refuses to provide them, that refusal is itself a red flag.
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