When buying a Panama City Beach Condo for sale it is important to understand the overall health of the condominium building you are buying into. Many times this situation occurs. A buyer will purchase a condo without fully understanding the financials of the condominium association. Some new owners find things in the associations they were not aware of while under contract. That's why it's important to understand the financial health of the Panama City Beach condominium you're buying.
Once you enter a contract to buy a condo, you're required to be provided a number of condominium documents which include the most recent end of the year financials. It's Florida law.