Due-diligence checklist

9902 S Thomas Dr #1138 · Panama City Beach, FL 32408

Condo · 4 bd / 3.0 ba · 1,483 sqft · built 2008 · listed $305,000 · MLS CFR-ZGCPV7EDHSMZ3Y

• 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.