Due-diligence checklist

1325 W 12th St Unit C6 · Panama City, FL 32401

Condo · 2 bd / 2.0 ba · 934 sqft · built 1985 · listed $149,900 · MLS CFR-JQFS89D0K0Y4B0

• Title & lien report

  Confirm clear title; flag mechanics' liens, easements, or active suits.
• Seller disclosure

  Pull the seller's written disclosure for material defects + work done without permits.
• Survey & boundary

  Recent survey verifying lot lines, easements, encroachments.
• Inspection contingency

  General home inspection within 7–10 days; right to renegotiate / cancel.
• Insurance binder

  Get a written insurance quote BEFORE waiving the financing/inspection contingency.
• HOA reserve study

  Funded reserve ratio? <70% funded → special-assessment risk.
• HOA financials (T-12 + budget)

  Operating margin, delinquencies, lawsuits, rising-cost line items.
• Open + pending special assessments

  Get the assessment HISTORY plus any pending — these add to monthly carry.
• Rules: rentals & STR

  Min lease term, STR allowed/banned, ratio of rentals capped by HOA?
• Insurance: HO-6 + master policy

  Confirm the master policy + your HO-6 (walls-in) limits + deductibles match.
• FHA / VA approval status

  Building approval status affects buyer pool when you sell.
• Pet / move-in / parking rules

  Tenant friction — long lists kill turnover.