Most buyers spend more time researching restaurants in Sunny Isles Beach than they spend on due diligence before a $2M real estate transaction. I’ve watched it happen more times than I can count — buyers who did everything right up to the contract, then treated the inspection period as a formality rather than an investigation.
This guide is the list of questions I walk through with every serious buyer before they go hard on a deposit at Jade Beach, Jade Ocean, or Jade Signature. Some of these are standard practice. Some are specific to these buildings and this market. All of them matter.
Before You Even Make an Offer
What is the unit’s history on the market?
How many times has this unit been listed in the past three years? Has it sat without selling, had price reductions, or been re-listed after a failed contract? A unit with a troubled market history isn’t necessarily a bad buy — but it tells you something, and you should know what that something is before you write an offer.
What are the seller’s actual motivations?
“Motivated seller” is real estate language for something specific. Are they divorcing? Relocating? Did they buy at peak and need to exit? Is there a financial distress situation? A broker with building relationships can often find out what public listing data won’t tell you — and that intelligence changes how you negotiate.
What did the seller pay and when?
This is public record in Florida — folio number, deed history, and transfer amounts are all accessible through the Miami-Dade Property Appraiser’s website. If the seller bought in 2021 at $2.4M and is listing at $2.1M, they are absorbing a loss. That context changes the negotiating dynamic entirely.
Has the unit ever been rented?
Rental history can reveal how the unit was maintained, whether it attracted quality tenants, and what actual market rents look like for that specific unit — not just the building average. Heavily rented units sometimes show accelerated wear on finishes, HVAC systems, and appliances that a standard inspection won’t fully price.
During the Inspection Period — Building Level
What is the reserve fund balance and what percentage is it funded?
This is the single most important financial question about any condo building and the one most buyers either forget or don’t know how to ask. Florida law now requires adequate reserve funding post-Surfside — but “adequate” is a floor, not a ceiling. A well-funded reserve means lower special assessment risk. Ask for the most recent reserve study and the current balance.
Are there any pending or recently passed special assessments?
A special assessment is a one-time charge to unit owners for a major repair or capital project the reserve fund can’t cover. Ask for the last 24 months of HOA board meeting minutes — special assessments are voted on at board meetings, and the minutes will show you what’s been discussed, approved, and levied. This is non-negotiable due diligence regardless of how new the building is.
What is the building’s current litigation status?
Is the HOA involved in any active lawsuits — against the developer, a contractor, an insurance company, or a unit owner? Building litigation can affect insurance rates, reserve requirements, and in extreme cases your ability to obtain financing if lenders view the situation as material risk. Ask your attorney to review the HOA documents for any disclosed litigation.
What does the building’s financials show over the last three years?
HOA boards are required to share financial statements with prospective buyers during the due diligence period. Look for: consistent operating surpluses or deficits, any unusual line-item expenses, reserve contributions relative to the reserve study recommendations, and how the building has managed its budget through the insurance cost increases of the past several years.
What is the current delinquency rate on HOA fees?
A building with significant HOA fee delinquencies has two problems: less cash to operate and a signal that some owners are in financial distress. Lenders typically require delinquency rates below 15% — but even at legal financing thresholds, higher delinquency rates are a yellow flag worth understanding before you close.
What are the building’s insurance coverages and deductibles?
The building’s master insurance policy covers the structure and common areas — but the deductibles on that policy matter to you as an individual unit owner, because loss assessment coverage on your HO-6 policy needs to be calibrated against what the building might levy on unit owners in a major claim. Ask for the building’s current master policy summary page.
During the Inspection Period — Unit Level
What is the unit’s HVAC history?
Air conditioning systems in South Florida run twelve months a year. At Jade Beach (2006) and Jade Ocean (2009), original HVAC systems are approaching or past typical replacement age. A unit with an original HVAC system is a capital expenditure waiting to happen — budget $15,000–$30,000 for a full system replacement and factor that into your offer.
When was the unit last renovated and what was done?
Cosmetic renovation (paint, flooring, fixtures) is easy to see. Mechanical renovation (electrical, plumbing, HVAC) is not. Ask specifically about what was done in any renovation — a kitchen that looks updated but has 2006 plumbing is a different asset than one that was completely overhauled. Get the names of contractors if possible and verify permits were pulled for structural or mechanical work.
Is there any history of water intrusion or mold?
South Florida’s humidity and storm exposure make water intrusion the most common and most consequential latent defect in oceanfront condos. A thorough inspector should test for moisture in walls and ceilings, particularly around balcony doors, sliding glass door thresholds, and under sinks. Ask the seller directly about any prior water intrusion events and look for disclosure history.
What are the actual utility costs for this specific unit?
Ask the seller for twelve months of FPL electric bills for the unit. The difference between a well-insulated, efficiently air-conditioned unit and one with aging HVAC and inadequate sealing can be $400–$800 per month in electric costs. That’s $4,800–$9,600 per year — material to your carrying cost calculation.
Are all appliances, fixtures, and systems in working order — and are they included?
This sounds obvious, but surprises happen. Confirm in writing exactly what conveys with the sale: washer/dryer, refrigerator, wine cooler, window treatments, built-in audio systems. Sellers occasionally remove items between contract and closing that buyers assumed were included.
Rental-Specific Questions (If You Intend to Rent)
What are the building’s exact rental rules — and have they changed recently?
All three Jade buildings currently require a 6-month minimum lease, twice per year — but building rules can be amended by HOA board vote. Confirm the current rules directly with the building management office, not just from the listing broker or old documentation. Ask whether any rental rule changes have been discussed at recent board meetings.
Has this specific unit been rented successfully, and at what rate?
If the seller has rental income history for the unit, request it. Actual lease comps from the unit itself are more valuable than building-average estimates. A unit that has consistently rented for $8,500/month is a different asset from one that struggled to achieve $6,500 despite being in the same building.
What is the current rental inventory in the building?
Before you buy a unit for rental purposes, know how many competing units in the same building are also available for rent right now. A building with 20 units listed for rent simultaneously is a different rental market than one with 3. Your broker should pull this data before you close.
Questions Specific to Each Building
Jade Beach (2006):
- Has the building completed its Florida structural integrity reserve study, and what were the findings?
- Are there any planned façade, balcony, or waterproofing projects in the next 3–5 years?
- What is the current status of the building’s pool deck and amenity infrastructure — any planned upgrades or assessments?
Jade Ocean (2009):
- Same structural integrity questions as Jade Beach
- The building’s all-glass curtain wall is a distinctive architectural feature that requires specific maintenance — ask about the current condition of the glass system and any recent or planned work on the exterior envelope
- Has the west-facing waterfall feature had any maintenance issues or assessments associated with it?
Jade Signature (2018):
- As a 2018 building, Jade Signature’s mechanical systems are still relatively young — but confirm warranty status on key building systems
- Ask about the building’s Raymond Jungles landscape maintenance program and whether any replanting or irrigation projects are planned
- Jade Signature’s HOA fees are the highest in the collection — ask for a line-item breakdown of what drives the fee and whether any cost increases are anticipated
The Question Most Buyers Forget Entirely
Who manages this building, and what is their reputation?
Building management quality affects your daily life, your rental tenant’s experience, and — over time — the building’s physical condition and financial health. Ask other residents, not just the HOA board, what the management is like. Ask your broker. The quality of a building’s management team is one of the most underappreciated factors in long-term ownership satisfaction at any luxury condo — and it’s something you can investigate before you buy.
What Happens If You Skip This
I’ve seen buyers skip due diligence on a $2M purchase because the building “seemed fine” and the inspection report came back clean on the unit. Six months after closing: a special assessment for a building-wide waterproofing project that was in the board minutes the whole time, which nobody had read. The assessment was $45,000 per unit.
That’s not a horror story — that’s a normal outcome of incomplete due diligence in this market. The inspection period exists for a reason. Use all of it.
Frequently Asked Questions
How long is the inspection period for a Jade condo purchase?
Typically 10–15 days from the executed contract date, though this is negotiable. In the current buyer’s market, some sellers will accommodate 15–20 day inspection periods for serious buyers. Use every day of it.
Can I get HOA documents before making an offer?
In Florida, sellers are required to provide HOA documents (including financials, rules, meeting minutes, and reserve studies) upon request during the inspection period — but you can often request them informally before making an offer through your broker, particularly if the seller’s broker is cooperative. Getting a head start on document review is always worthwhile.
What should I look for in HOA meeting minutes?
Focus on the last 24 months of minutes. Look specifically for: special assessment discussions or votes, any mention of litigation, deferred maintenance discussions, reserve study findings, and any owner complaints about building systems or management. The minutes are the most honest document in the HOA package — they capture what was actually discussed, not just what the building wants to present.
Do I need an attorney for a Jade condo purchase?
Florida does not legally require a buyer’s attorney. However, for purchases involving LLCs, trusts, foreign ownership structures, or any complexity in the transaction, an attorney is strongly recommended. At $2M+, the cost of legal counsel is immaterial relative to the risk of a poorly structured closing.
What is a reserve study and why does it matter?
A reserve study is an engineering and financial analysis of a building’s major components — roof, mechanical systems, exterior envelope, pool, elevators — and what it will cost to repair or replace them over a 30-year horizon. It determines how much the HOA should be collecting in reserves annually. A building that is significantly under-funded relative to its reserve study is a special assessment waiting to happen.
Before You Write an Offer — Talk to Someone Who Knows the Building
Due diligence questions are only valuable if you know what the answers mean in context. A reserve study that shows 60% funding is fine at one building and a red flag at another, depending on the building’s age, systems, and recent capital expenditures. That’s the kind of context that comes from 23 years in these specific buildings — not from a generic checklist.
Call or text: 305.978.7704
Email: AColeman@onesothebysrealty.com
Schedule a conversation before you offer →
Related reading:
Jade Condos Complete Buyer’s Guide | HOA Fees & Cost of Ownership | What $2 Million Buys at the Jade Condos | Foreign National Buyer’s Guide
